Blake and David discuss the factors that impact accountant salaries, including location, experience, and industry, and highlight the correlation between accounting salaries and overall economic conditions, noting that periods of economic growth can lead to higher salaries. They also take a look at the partnership between PwC and OpenAI and speculate on the potential impact of AI on accounting consulting and fraud detection. All this and more, right now!

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• (00:27) - Blake and David are back from SuiteWorld and talk about NetSuite's new AI features
• (09:31) - Using AI to audit cattle
• (12:22) - Former Trump CFO, Allen Weisselberg, describes GAAP
• (14:03) - FTX trial update
• (17:27) - The "proof of reserves" myth in crypto
• (20:22) - Are financial statements and audits irrelevant in 2023
• (26:45) - QuickBooks is launching bill pay
• (33:01) - The 150-hour rule is a barrier, not a bar
• (40:24) - Should CPAs have more specific designations and should bookkeeping require licensure?
• (43:10) - 3 professors know how to solve the pipeline problem?
• (46:45) - Some ChatGPT updates
• (50:44) - PwC partners with OpenAI
• (55:53) - Xero announces AI with searches
• (57:38) - Wrap up and where to reach Blake and David

Show Notes

Bill to compete with Intuit after partnership ends               

https://www.paymentsdive.com/news/bill-intuit-partnership-embedded-payments-smb-competition-b2b/691269/

BILL Introduces Integrated Financial Operations Platform for Small Businesses

https://www.pymnts.com/smbs/2023/bill-introduces-integrated-financial-operations-platform-for-small-businesses/

Intuit Introduces QuickBooks Bill Pay, Expanding Money Platform to Deliver Business-to-Business Payments with AP Automation        

https://investors.intuit.com/news/news-details/2023/Intuit-Introduces-QuickBooks-Bill-Pay-Expanding-Money-Platform-to-Deliver-Business-to-Business-Payments-with-AP-Automation/default.aspx

Intuit Introduces QuickBooks Bill Pay       

https://thepaypers.com/online-mobile-banking/intuit-introduces-quickbooks-bill-pay--1265038

Is FTX the biggest audit disaster ever?     

https://www.accountingweb.co.uk/community/blogs/philip-fisher/is-ftx-the-biggest-audit-disaster-ever

The mystery of FTX's missing $9B is unraveled     

https://www.accountingtoday.com/articles/the-mystery-of-ftxs-missing-9b-is-unraveled-at-sbf-trial

Bill Unveils Accountant Console for Accountant Partners 

https://insightfulaccountant.com/accounting-tech/vendor-news/bill-unveils-accountant-console-for-accountant-partners/

Stick with high standards — and 150 hours           

https://www.accountingtoday.com/opinion/stick-with-high-standards-and-the-150-credit-hour-requirements-for-cpas

With annual reports in the hundreds of pages, who has time to run a business?   

https://www.cityam.com/with-annual-reports-in-the-hundreds-of-pages-who-has-time-to-run-a-business/

PwC partners with ChatGPT creator OpenAI         

https://www.accountingtoday.com/articles/pwc-offers-advice-from-bots-in-deal-with-chatgpt-firm-openai

Avalara Expands Partnership with Oracle NetSuite to Deliver Integrated E-Invoicing Solution

https://www.cpapracticeadvisor.com/2023/10/17/avalara-expands-partnership-with-oracle-netsuite-to-deliver-integrated-e-invoicing-solution/96047/

New York AG accuses crypto firms of deceiving investors in $1 billion fraud

https://www.cnn.com/2023/10/19/tech/crypto-firms-fraud-charges-new-york/index.html

CPA Standoff: Why haven't the other provincial bodies joined the ...          

https://www.canadian-accountant.com/content/profession/cpa-standoff-other-provincial-bodies

Accounting is facing a labor crisis. Could fraud be part of the solution?     

https://phys.org/news/2023-10-accounting-labor-crisis-fraud-solution.html

FTX Used Billions in Customer Funds to Buy Back Binance Stake   

https://www.coindesk.com/policy/2023/10/19/ftx-used-billions-in-customer-funds-to-buy-back-binance-stake/

Accounting is facing a labor crisis. Could fraud be part of the solution?     

https://news.ufl.edu/2023/10/accounting-facing-labor-crisis/

Accountants battle software integration frustration          

https://www.accountingweb.co.uk/tech/accounting-software/accountants-battle-software-integration-frustration

Oracle NetSuite Embeds Generative AI Throughout the Suite to Help Organizations Boost Productivity