Ohio Killed The 150-Hour Rule - Who's Next?
The Accounting Podcast
The Impact of Private Equity on CPA Firms
This chapter discusses the acquisition of CPA practices by private equity firms and the legal loopholes that allow for majority ownership without a CPA license. It highlights the potential repercussions for the profession, including the marginalization of CPAs and a reduction in available services, alongside promoting educational resources for continuing professional education.
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
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
Thomson Reuters Acquires SafeSend, Expanding Tax Automation Capabilities
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
Enforcement Activity Involving Auditors – 2024 Mid-Year Update
Amid Barely ‘Average’ Client Satisfaction, Why Aren’t 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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