Firms Using AI Make More $, PCAOB Shutdown Fight, The Impossible Tariff Test
The Accounting Podcast
Intro
This chapter delves into a Deloitte prediction about AI-enabled fraud losses potentially hitting $40 billion by 2027, underscoring its impact on the accounting sector. It also explores the dual-edged sword of AI in firms, highlighting increased profits while addressing the rising threat of voice AI scams stemming from advancements in voice cloning technology.
Could AI create a $20 trillion professional services earthquake? In this episode, Blake and David dive into the data showing that AI firms generate $45,000 more revenue per employee than non-adopters. You'll discover how AI is reshaping traditional accounting and what Claude's new ability to connect with your Gmail and calendar means for productivity. They also demonstrate how indistinguishable AI-cloned voices have become, sharing practical tips to protect yourself and clients from increasingly sophisticated voice scams. Plus, hear why the "impossible" US customs broker exam (with its shocking 4% pass rate) might offer accountants a lucrative alternative career path as tariff disputes heat up.
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Chapters
- (00:37) - The Impact of AI on Accounting Firms
- (02:04) - Voice AI Scams and Protection Tips
- (03:34) - Legislative Updates and Industry News
- (05:44) - Live Stream Shoutouts and Sponsor Acknowledgements
- (06:50) - AI in Accounting: Revenue and Efficiency Insights
- (14:01) - AI Voice Cloning Demonstration
- (16:29) - Protecting Against AI Voice Scams
- (24:12) - AI's Impact on Work and Productivity
- (32:32) - AI in Tax and Accounting Firms
- (38:19) - Success in Contract Drafting
- (38:43) - Starbucks' Automation Reversal
- (41:07) - AI and Productivity Gains
- (53:58) - The Great Legacy Extinction
- (01:08:58) - The Impossible Tariff Test
- (01:13:09) - Private Equity in Accounting Firms
- (01:16:03) - Conclusion and CPE Credits
Show Notes
Firms with AI report higher per-employee revenue vs others
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others
Nine Ways to Protect Yourself from 'Impostor' Voice Scams
https://www.magzter.com/stories/newspaper/The-Wall-Street-Journal/NINE-WAYS-TO-PROTECT-YOURSELF-FROM-IMPOSTOR-VOICE-SCAMS
Danish study challenges claims about AI disrupting the labor market
https://getcoai.com/news/danish-study-challenges-claims-about-ai-disrupting-the-labor-market/
50% of finance teams still take over a week to close the books
https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/
The Great Legacy Extinction: AI's $20T Takeover of Professional Services
https://www.venrock.com/insights/insights-technology/the-great-legacy-extinction-ais-20t-takeover-of-professional-services/
What Do You Think of the New PwC Logo?
https://www.cpapracticeadvisor.com/2025/04/30/what-do-you-think-of-the-new-pwc-logo/159946/
Big Four accounting firm PwC to slash about 1,500 jobs in the US
https://www.reuters.com/sustainability/accounting-firm-pwc-cut-1500-us-jobs-ft-reports-2025-05-05/
How are different accounting firms using AI?
https://tax.thomsonreuters.com/blog/how-do-different-accounting-firms-use-ai/
Customs Broker License Exam (CBLE)
https://www.cbp.gov/trade/programs-administration/customs-brokers/license-examination-notice-examination
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Get in Touch
Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.
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Transcripts
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