Survey Says 80% of CPAs Support Alternatives to 150 Hours
The Accounting Podcast
Flaws in the current system of inspections and the 150-hour rule
The speakers discuss the difficulties of obtaining work experience and finding a CPA to sign off on the required hours, and suggest alternative options such as swapping education for more work experience. They also criticize the lack of requirement for business or accounting courses in some states.
Blake and David mull over the Arizona CPA Society's survey revealing that 80% of Arizona CPAs support 150-hour-rule alternatives. They also examine the UK Post Office scandal that led to hundreds of criminal convictions of postmasters, as well as Deloitte's recent massive audit failures, and the impacts of the talent shortage illustrated by delayed government audits in Wyoming. Wrapping things up, some reflections on the need for major reforms in auditing and regulation of the accounting profession. All this and more, right here, right now!
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Chapters
- (00:29) - Blake goes over the Arizona Society of CPA's survey results
- (06:06) - Do 150-hour employees do better work?
- (09:35) - Are firms facing an accounting shortage?
- (14:42) - Did you know Nikki Haley was an accountant?
- (16:28) - Deloitte audit failure in Nigeria
- (29:35) - Certified Pastry Aficionado
- (31:37) - Tsunami miracle baby, now 19, pursuing an accounting degree
- (34:30) - Fujitsu, Horizon, and the disgusting postal worker prosecution failure by the UK government
- (48:41) - Blake checks in on the live chat
- (53:19) - Going Concern: Wyoming firm faces staffing shortage in critical government audits
- (56:49) - Download Earmark. Earn free CPE for listening
Show Notes
Arizona CPA Society releases 150-hour survey results
https://www.ascpa.com/news/ddf50a1e-70cc-4d5b-9e00-cc9c5f82c17e:az-cpa-januaryfebruary-2024
How Deloitte missed a massive Nigerian company fraud
Tsunami miracle baby now majoring in accounting
Only two firms in Wyoming can do government audits, and one can’t do its job
There Are Only Two Firms in Wyoming That Can Do Government Audits and One Can’t Do Its Job Because of Staff Shortages
Revealed: The Fujitsu fat cats who pocketed huge salaries while its flawed Horizon accounting system ruined...
What should accounting technology providers learn from the Post Office Horizon scandal?
Plans to legislate for resolution of Post Office accounting scandal
https://www.accountancydaily.co/plans-legislate-resolution-post-office-accounting-scandal
Post Office under criminal investigation for potential fraud over Horizon scandal
Some 86 people have seen their convictions for false accounting and theft overturned
UK police launch fraud inquiry over post office IT scandal
How the Post Office’s Horizon system failed: a technical breakdown
Bad software sent postal workers to jail, because no one wanted to admit it could be wrong
Post Office warned of software flaw in 2006, but failed to alert subpostmaster network
Post Office spunks fresh £36m on Fujitsu after cloud fail
https://www.thestack.technology/post-office-fujitsu-extension/
When did the Post Office scandal start? Timeline of key events
Briefing presumption that comp...
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