Carvana Controversies and Corporate Dynamics | 19min snip from The Accounting Podcast

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Ohio Killed The 150-Hour Rule - Who's Next?

The Accounting Podcast

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CHAPTER

Carvana Controversies and Corporate Dynamics

This chapter investigates the claims by Hindenburg Research regarding Carvana's questionable financial practices, including related party transactions and inflated stock prices. It further explores the broader implications of return-to-office policies and client satisfaction measurement in the accounting sector, emphasizing the challenges companies face in engaging employees and clients effectively. The discussion highlights the necessity for transparent financial practices and the proper use of metrics like Net Promoter Score (NPS) to enhance business performance.

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Blake and David dive into major industry news, including Ohio ending the 150-hour CPA rule, setting a potential precedent for other states. They also discuss the Blackston acquisition of Citrin Cooperman and explore the implications of private equity involvement in accounting firms. Moving on, they examine workplace trends, including new data revealing that 61% of medium and large employers now require minimum in-office days, and debate the effectiveness of Net Promoter Scores (NPS) in accounting firms.

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Chapters

(01:03) - Private Equity in Accounting Firms
(03:14) - Personal Update: Blake's Hand Injury
(05:18) - California's Insurance Crisis
(13:57) - Ohio Ends the 150-Hour Rule
(22:02) - App News: OnPay, SafeSend, and More
(30:16) - Carvana's Questionable Accounting Practices
(36:36) - Return to Office Policies
(40:01) - RTO Policies and Office Leases
(41:15) - Client Satisfaction and Net Promoter Score
(42:53) - Debate on the Effectiveness of NPS
(44:20) - Implementing NPS in Accounting Firms
(52:03) - PCAOB Fines and Audit Quality
(01:03:15) - Bitcoin and Government Policies
(01:06:54) - Private Equity in Accounting Firms
(01:15:07) - Earmark App and CPE Credits

Show Notes

Return-to-office policies gain steam

https://www.cfo.com/news/return-to-office-policies-gain-steam-remote-work-hybrid-wtw-resume-org/735710

Citrin Cooperman, a Leading Professional Services Firm, to Receive Significant Investment as Blackstone Acquires Stake from New Mountain Capital

https://www.blackstone.com/news/press/citrin-cooperman-a-leading-professional-services-firm-to-receive-significant-investment-as-blackstone-acquires-stake-from-new-mountain-capital/

Ohio is the first state to end the 150-hour rule for CPA licensure

https://www.blakeoliver.com/blog/ohio-first-state-to-end-the-150-hour-rule-for-cpa-licensure

Ohio gov signs alternative CPA licensure pathway bill into law

https://www.cfodive.com/news/ohio-gov-signs-alternative-cpa-licensure-pathway-bill-law-accounting-aicpa/736942/

Thomson Reuters Acquires SafeSend, Expanding Tax Automation Capabilities

https://www.thomsonreuters.com/en/press-releases/2025/january/thomson-reuters-acquires-safesend-expanding-tax-automation-capabilities.html

Xero Partners with Gusto to Offer Integrated Payroll Solution

https://www.wellesleyhillsfinancial.com/2025/01/05/xero-partners-with-gusto-to-offer-integrated-payroll-solution/

Sync your transactions to QuickBooks Desktop with Ramp's direct integration

https://ramp.com/integrations/quickbooks-desktop

Hindenburg Research short on used-car retailer Carvana

https://www.reuters.com/business/autos-transportation/hindenburg-research-short-used-car-retailer-carvana-2025-01-02/

Enforcement Activity Involving Auditors – 2024 Mid-Year Update

https://www.brattle.com/wp-content/uploads/2024/08/Enforcement-Activity-Involving-Auditors-2024-Mid-Year-Update.pdf

Amid Barely ‘Average’ Client Satisfaction, Why Aren’t More Firms Using NPS to Improve?

https://insidepublicaccounting.com/2024/07/16/amid-barely-average-client-satisfaction-why-arent-more-firms-using-nps-to-improve/

The federal government just got the greenlight to sell $6.5 billion in Bitcoin seized from Silk Road

https://fortune.com/crypto/2025/01/09/federal-government-allowed-sell-bitcoin-silk-road-courts/

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