PCAOB Lacks Formal Audit Quality Definition

Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.

Chapters

• (00:00) - Welcome to The Accounting Podcast
• (00:49) - Blake's Illness and Recovery
• (02:05) - Upcoming Topics
• (04:06) - Cost Segregation Explained
• (06:46) - AI in Cost Segregation
• (11:15) - AI's Current Capabilities and Limitations
• (19:10) - Intuit's OpenAI Deal
• (22:01) - Intuit's Strategy and Industry Implications
• (30:12) - Michael Burry's New Bet Against AI
• (31:21) - Depreciation and AI Companies
• (39:15) - Rippling vs. Deel: Corporate Espionage
• (42:44) - New Jersey's Alternative Pathways Bill
• (44:39) - AI's Role in Tax and Investing Advice
• (47:37) - Defining Audit Quality: PCOB's New Initiative
• (51:56) - FASB's Costly Lease Standard
• (56:13) - Ancient Accounting Systems in Peru
• (58:45) - Conclusion and Viewer Interaction

Show Notes

AI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fast
https://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/

19% lost $100 or more on bad AI financial advice

https://www.accountingtoday.com/news/19-lost-100-or-more-on-bad-ai-financial-advice

Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax

https://www.cnbc.com/2025/11/18/intuit-pays-openai-100-million-turbotax-integrates-chatgpt.html

Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPT

https://www.eweek.com/news/intuit-100m-chatgpt-deal/

Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT

https://techcrunch.com/2025/11/18/intuit-signs-100m-deal-with-openai-to-bring-its-apps-to-chatgpt/

Intuit and OpenAI join forces on new AI-powered experiences

https://openai.com/index/intuit-partnership/

'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earnings

https://www.cnbc.com/2025/11/11/big-short-investor-michael-burry-accuses-ai-hyperscalers-of-artificially-boosting-earnings.html

Michael Burry Hits Back At Critics: Accuses AI Companies Of 'Suspicious Revenue Recognition' And Depreciation Gimmicks: 'Fraud, Not A Flywheel'

https://www.benzinga.com/markets/hedge-funds/25/11/48967194/michael-burry-hits-back-at-critics-accuses-ai-companies-of-suspicious-revenue-recognition-and-depreciation-gimmicks-fraud-not-a-flywheel

Fireside chat with PCAOB acting chair George Botic

https://www.accountingtoday.com/opinion/fireside-chat-with-pcaob-acting-chair-george-botic

New Banking Records Prove Deel Paid Thief Who Stole Trade Secrets from Rippling

 https://www.rippling.com/blog/new-banking-records-prove-deel-paid-thief-who-stole-trade-secrets-from-rippling

Newly unsealed documents tie Deel to payments for alleged Rippling spy, while Deel points to witness incentives

https://www.calcalistech.com/ctechnews/article/h1ysgtng11l

FASB Says Certain Costs of Leases Standard Were Significantly Higher Than Expected

https://www.cpapracticeadvisor.com/2025/11/20/fasb-says-certain-costs-of-lease-accounting-standard-were-significantly-higher-than-expected/173680/

FASB finds leases standard was costlier than expected

https://www.accountingtoday.com/news/fasb-finds-leases-standard-was-costlier-than-expected

NJ's once-stalled CPA licensing bill advances after 'surprise' vote

https://www.cfodive.com/news/njs-once-stalled-cpa-licensing-bill-advances-surprise-vote-accounting/805589/

Indigenous accounting and exchange at Monte Sierpe ('Band of Holes') in the Pisco Valley, Peru

https://www.cambridge.org/core/journals/antiquity/article/indigenous-accounting-and-exchange-at-monte-sierpe-band-of-holes-in-the-pisco-valley-peru/41D83389D230D99CFF18194CF274A9A3

Peru's ancient 'band of holes' mystery may be solved

https://edition.cnn.com/2025/11/21/science/peru-band-of-holes-mystery

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