Intuit Product Debates and Significant Audit Failures

Blake and David explore Intuit's new Enterprise Suite, a product that appears to compete with NetSuite in the mid-market ERP space. They also
discuss a major audit failure by PwC in China related to Evergrande, raising concerns about the ethics and integrity at large accounting firms.
They also discuss the tragic death of a young accountant at EY in India due to overwork and explore the implications of OpenAI's latest model
outperforming humans on IQ tests.

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• (01:32) - Intuit's New ERP System
• (03:43) - Target Market and Pricing Concerns
• (06:11) - Comparing to Competitors
• (18:18) - PwC's Massive Fine in China
• (19:04) - Evergrande's Financial Collapse
• (26:59) - The Bigger Picture of Audit Quality
• (30:08) - Australian Accountants and the PwC Debacle
• (31:05) - Tragic Death of EY Employee in India
• (33:16) - The Hypocrisy of Overwork in the Big Four
• (40:42) - OpenAI's New Model: A Game Changer
• (49:43) - Driverless Cars: The Future of Transportation
• (53:15) - NASBA's New Competency-Based CPA Pathway
• (01:01:23) - Conclusion and Farewell

Show Notes

Intuit Introduces Intuit Enterprise Suite to Help Businesses Grow, Streamline Operations, and Scale

https://investors.intuit.com/news-events/press-releases/detail/1213/intuit-introduces-intuit-enterprise-suite-to-help-businesses-grow-streamline-operations-and-scale 

PwC faces record fine over Evergrande audit in China

https://finance.yahoo.com/news/pwc-faces-record-fine-over-131518742.html

 Death of young Ernst & Young employee raises questions about workplace culture

https://www.nbcnews.com/news/world/death-young-ernst-young-employee-raises-questions-workplace-culture-rcna171945 

Comparison of Models: Quality, Performance & Price Analysis

https://artificialanalysis.ai/models

Waymo significantly outperforms comparable human benchmarks over 7+ million miles of rider-only driving

https://waymo.com/blog/2023/12/waymo-significantly-outperforms-comparable-human-benchmarks-over-7-million 

AICPA, NASBA propose a new pathway to CPA licensure

https://www.journalofaccountancy.com/news/2024/sep/cpa-competency-based-licensure-pathway.html

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Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page