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The Accounting Podcast

15-Year-Old Passes CPA Exam & NY Requires Independent Audits of AI Hiring Processes

Jul 11, 2023

55:58

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Episode notes

1.

Introduction

4min

2.

Jimmy Chilla-Migres Passes the Certified Public Accountant Exam

4min

3.

The Intuit White Glove Test

2min

4.

How to Use an Accounting Artist to Pass the CPA Exam

2min

5.

Surviving the People Crisis

4min

6.

The Talent Crisis

2min

7.

The Change Coming to BDO USA

5min

8.

Microsoft's Co-Pilot System

2min

9.

Microsoft Graph: A New AI Assistant

4min

10.

Relay: The Future of Accounting

5min

11.

How to Use CHAC-GPT to Capture Your Knowledge

2min

12.

AI Tax Prep Bot to Streamline the Tax Filing Process

5min

13.

AI Audits: A New Opportunity for Accounting Firms

3min

14.

The Fear of the IRS Connecting to the Server

5min

15.

How to Integrate Email With Client Portals

2min

16.

How to Get Your Firm Fit

6min

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!

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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

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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

https://www.cpapracticeadvisor.com/2023/06/26/bdo-usa-is-shifting-from-a-partnership-to-a-corporation/81445/

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

https://news.bloombergtax.com/financial-accounting/kpmgs-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

https://www.ctvnews.ca/business/shopify-vows-to-fight-cra-request-to-hand-over-records-from-more-than-121-000-canadian-businesses-1.6454822

Accounting firm EY calls off ‘Project Everest’ to break up firm ...

https://www.dailymirror.lk/business/Accounting-firm-EY-calls-off-Project-Everest-to-break-up-firm/215-261867

Finance Automation Platform Ramp Acquires AI Startup Cohere.io

https://www.pymnts.com/artificial-intelligence-2/2023/finance-automation-platform-ramp-acquires-ai-startup-cohere-io/

BDO USA is Shifting From a Partnership to a Corporation

https://www.cpapracticeadvisor.com/2023/06/26/bdo-usa-is-shifting-from-a-partnership-to-a-corporation/81445/

M365 Copilot, Microsoft’s generative AI tool, explained

https://www.computerworld.com/article/3700709/m365-copilot-microsofts-generative-ai-tool-explained.html

Intuit Supercharges Intuit GenOS with OpenAI’s Large Language Models to Bring GenAI Experiences to Customers

https://investors.intuit.com/news/news-details/2023/Intuit-Supercharges-Intuit-GenOS-with-OpenAIs-Large-Language-Models-to-Bring-GenAI-Experiences-to-Customers/default.aspx

Wrapbook Expands its Payroll Platform to Enable Seamless ...

https://www.businesswire.com/news/home/20230629819270/en/Wrapbook-Expands-its-Payroll-Platform-to-Enable-Seamless-Collaboration-Across-Production-and-Accounting-Teams

Kraken ordered to turn over its users' information to the IRS

https://www.accountingtoday.com/articles/kraken-ordered-to-turn-over-its-users-information-to-the-irs

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