15-Year-Old Passes CPA Exam & NY Requires Independent Audits of AI Hiring Processes
The Accounting Podcast
The Change Coming to BDO USA
BDO USA LLP will change its name to BDO USAPA on July 1st. The move will provide advantages such as lower corporate tax rates, simplified tax filing for partners. We're going to see more and more partnerships turn into corporations just because it's easier. This episode of the Cloud Accounting Podcast is sponsored by OnPay. To learn more about switching your clients to award-winning payroll in cloud accountants head over to O-promo.com.
In this episode, Blake and David examine the story of the 15-year-old who recently passed the CPA exam, as well as recent news involving accounting firms transitioning to corporations, AI investments, and new laws concerning AI hiring. They also cover several tech stories related to accounting, problems with client portals, and much more!
Sponsors
OnPay - https://cloudaccountingpodcast.promo/onpay
Relay - https://cloudaccountingpodcast.promo/relay
Forwardly - https://cloudaccountingpodcast.promo/forwardly
Chapters
- (00:04) - Preview: Accounting firms will transition to corporations
- (01:00) - Blake and David are back from their trips
- (05:03) - A 15-year-old in Mississippi has passed the CPA exam
- (07:00) - Jennifer asks about TAP's TurboTax Live Business experience
- (10:05) - Mackenzie's voicemail re: accounting shortage
- (18:37) - BDO USA is shifting from a partnership to a corporation
- (20:55) - EY officially announces it has called off "Project Everest" but is still the number one US audit firm for public companies
- (24:25) - M365 Co-Pilot updates
- (29:50) - Thomson Reuters announces $100 million per year AI investment
- (32:04) - Avalara launches a sales tax calculator in ChatGPT
- (36:17) - Gusto hires former head of data science and analytics from Google
- (37:09) - Taxfyle releases AI tax-prep bot
- (39:04) - New York announces new AI law for hiring
- (44:15) - A few more quick tech stories and the problems with client portals
- (47:06) - Wrapbook wrap-up
- (51:45) - Where to reach David and Blake
Need CPE?
Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com
Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe
Show Notes
Tech News: TaxFyle releases AI tax prep bot
https://www.accountingtoday.com/list/tech-news-taxfyle-releases-generative-ai-tax-prep-bot
Why everyone is mad about New York’s AI hiring law
https://www.technologyreview.com/2023/07/10/1076013/new-york-ai-hiring-law/
Mississippi youth passes CPA Exam – at Age 15
https://www.journalofaccountancy.com/news/2023/jun/mississippi-youth-passes-cpa-exam-at-age-15.html
BDO USA is Shifting From a Partnership to a Corporation - CPA Practice Advisor
Gusto hires former Google exec to add AI to products | Accounting Today
https://www.accountingtoday.com/news/gusto-hires-former-google-exec-to-add-ai-to-products
KPMG cuts 5% of U.S. workforce | Accounting Today
https://www.accountingtoday.com/news/kpmg-cuts-5-of-u-s-workforce
KPMG’s Big Four Dominance on Bank Audits Shaken by Failures
Thomson Reuters adding AI to tax software | Accounting Today
https://www.accountingtoday.com/news/thomson-reuters-adding-ai-to-tax-software
EY Tops Rival Audit Firms in Public Company Clients - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2023/06/20/ey-tops-rivals-in-public-company-audit-clients/81193/
Shopify vows to fight CRA request to hand over records from more than 121,000 Canadian businesses
Accounting firm EY calls off ‘Project Everest’ to break up firm ...
Finance Automation Platform Ramp Acquires AI Startup Cohere.io
BDO USA is Shifting From a Partnership to a Corporation
M365 Copilot, Microsoft’s generative AI tool, explained
Intuit Supercharges Intuit GenOS with OpenAI’s Large Language Models to Bring GenAI Experiences to Customers
Wrapbook Expands its Payroll Platform to Enable Seamless ...
Kraken ordered to turn over its users' information to the IRS
The AI-powered Podcast Player
