EY's Audit Quality Turnaround

Are accountants no longer “professionals”? We unpack the DOE proposal that could slash grad loan limits—and what AICPA/NASBA plans to do about it. Plus: Deloitte’s AI-made citations, EY’s audit turnaround, PwC’s end‑to‑end AI audit ambitions, and OpenAI’s circular investment into accounting rollups. We also cover Xero’s new auto‑reconcile, Intuit’s small‑biz data ad play, and two practical wins: Google’s shared inboxes and unexpected networking tactics for landing that first job.

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• (00:00) - Introduction and Podcast Overview
• (00:44) - Headline: Accountants No Longer Professionals?
• (02:18) - Department of Education's Proposal and Reactions
• (03:50) - Implications for Accounting Students and Professionals
• (09:28) - Deloitte's AI Work Swap Controversy
• (12:46) - EY's Audit Quality Improvements
• (20:56) - Economic Update: Tariffs and Job Market
• (34:02) - Circular AI Investments: A Closer Look
• (36:31) - AI Tools for Accountants: New Features
• (39:32) - Xero's New Pricing and AI Policies
• (49:13) - PWC's AI-Driven Audit Automation
• (52:39) - Google Workspace Shared Inboxes
• (55:49) - Dissolution of the Department of Government Efficiency
• (56:47) - Career Networking Tips for Accountants
• (01:01:16) - Outsourcing Talent: A Global Perspective

Show Notes

Department of Education Accounting Professional Degree Classification
https://www.newsweek.com/full-list-degrees-professional-trump-administration-11085695

Accountants Inexplicably Deemed "Not Professional" Under OBBBA Student Loan Rules
https://www.goingconcern.com/accountants-inexplicably-deemed-not-professional-under-obba-student-loan-rules/

Department of Education Unclassifies Accounting as a Professional Degree
https://www.cpapracticeadvisor.com/2025/11/24/department-of-education-unclassifies-accounting-as-a-professional-degree/173875/

Deloitte allegedly cited AI-generated research in a million-dollar report for a Canadian provincial government https://fortune.com/2025/11/25/deloitte-caught-fabricated-ai-generated-research-million-dollar-report-canada-government/

Major N.L. healthcare report contains errors likely generated by A.I.
https://theindependent.ca/news/lji/major-n-l-healthcare-report-contains-errors-likely-generated-by-a-i/

N.L. asks Deloitte to carry out review after 'incorrect' citations found in $1.6M provincial health plan

https://www.cbc.ca/news/canada/newfoundland-labrador/nl-deloitte-citations-9.6990216

OpenAI's investment into Thrive Holdings is its latest circular deal
https://techcrunch.com/2025/12/01/openais-investment-into-thrive-holdings-is-its-latest-circular-deal/

Thrive-backed accounting firm Crete to spend $500 million in AI roll-up
https://finance.yahoo.com/news/thrive-backed-accounting-firm-crete-130200467.html

Crete PA plans $500 million spend to buy and upgrade accounting firms with AI
https://www.accountingtoday.com/news/crete-pa-plans-500-million-spend-to-buy-and-upgrade-firms-with-ai

OpenAI takes an ownership stake in Thrive Holdings to accelerate enterprise AI adoption
https://openai.com/index/thrive-holdings/

Trump Tariffs: The Economic Impact of the Trump Trade War
https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/

IEEPA Tariffs Are Down from April Threats

https://taxfoundation.org/blog/ieepa-tariffs-rates-down-april-threats/

Intuit SMB MediaLabs Audiences Now Available on The Trade Desk Platform
https://investors.intuit.com/news-events/press-releases/detail/1288/intuit-smb-medialabs-audiences-now-available-on-the-trade-desk-platform-connecting-advertisers-with-small-and-mid-market-businesses

Intuit SMB MediaLabs | Advertising Network

https://medialabs.intuit.com/

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