Accounting Today said ChatGPT failed the CPA Exam — here's why that's misleading; a WSJ reporter clones herself with AI and tricks her bank and family; TurboTax tops the TV ads for tax year 2022; Audit firms remove partners who fault clients' internal controls; 80 percent of BDO Alliance partners vote to eliminate or modify the 150-hour rule
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Chapters- (00:00) - ChatGPT Was Set Up To Fail The CPA Exam
- (00:30) - Does the accounting profession give your life meaning?
- (01:00) - Welcome to the show, David is on the road this week
- (04:49) - Accounting Today says ChatGPT completely failed CPA exam
- (07:48) - Blake ran some of his own tests with GPT-4 and takeaways people should get from this article
- (13:23) - WSJ article on the potential of AI and fraud
- (15:09) - Blake plays clips of Joanna's voice cloned compared to her actual voice
- (18:28) - TechCrunch article on Intuit's AI journey
- (23:35) - Accounting Today article on firms removing audit partners from engagements where they found internal control problems
- (28:41) - Accounting Today: PCAOB turns up the heat on auditing firms
- (32:20) - Three failed banks all had KPMG in common
- (38:26) - Which brands spent the most money on ads around tax day 2023?
- (41:30) - TurboTax starts sending out checks as part of "free free free" settlement
- (42:58) - Listener email about the 150 hour rule and underpaid CPAs
- (46:57) - BDO Alliance poll results on the 150 hour requirement
- (50:29) - Blake buys MedEvac insurance for the first time
- (53:09) - Some quick app news roundup
- (58:33) - Wrap up and where to reach us
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Show Notes
KPMG pens deal with MindBridge to apply AI to digital audits | Accounting Today
https://www.accountingtoday.com/news/kpmg-pens-deal-with-mindbridge-to-apply-ai-to-digital-audits
We ran the CPA exam through ChatGPT and it failed miserably | Accounting Today
https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably
I Cloned Myself With AI. She Fooled My Bank and My Family.
https://www.wsj.com/articles/i-cloned-myself-with-ai-she-fooled-my-bank-and-my-family-356bd1a3
Audit firms remove partners who fault clients' internal controls | Accounting Today
https://www.accountingtoday.com/news/audit-firms-remove-partners-who-fault-clients-internal-controls
BDO Alliance poll of managing partners on 150-hour rule
https://twitter.com/BlakeTOliver/status/1654553693830914048
TurboTax customers to receive checks for $141M settlement
https://apnews.com/article/turbotax-inuit-settlement-checks-mail-0c01cf25aa34693163886d135f7a6560
Accounting automation developer Gappify scores $10m
https://fintech.global/2023/05/02/accounting-automation-developer-gappify-scores-10m/
Intuit’s shift
https://techcrunch.com/2023/04/27/intuit-ai-shift/
Hundreds Of Tax Prep Services Hit The Airwaves Before April https://www.insideradio.com/free/hundreds-of-tax-prep-services-hit-the-airwaves-before-april-18/article_b59beb46-e5a2-11ed-a08f-d7b730e240b8.html
We had ChatGPT take the CPA exam — and it failed
https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably
ChatGPT Just Failed This Accounting Exam
https://www.digitalinformationworld.com/2023/04/chatgpt-just-failed-this-accounting-exam.html
Accounting clerk created original art on billing statements to help a patient heal
https://www.cbsnews.com/video/accounting-clerk-created-original-art-on-billing-statements-to-help-a-patient-heal/
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