The Accounting Podcast

AJ Yawn, partner at Armanino LLP, discusses Audit Ally, an AI tool for SOC 2 audits. They explore how tech companies are entering the audit space, and how AI can streamline audits. The podcast delves into using AI to verify employee training dates and the impact of technology on SOC 2 audits.

We're celebrating surpassing 10,000 YouTube subscribers! Thank you! Blake and David look into H&R Block's new reality show about teaching people life skills like doing their taxes. They also talk about workflow automation challenges for accounting firms, how the IRS is contacting wealthy non-filers, and the Trump Organization CFO pleading guilty to perjury. They also break down the SEC's extensive new climate disclosure rules and the job opportunities this could create for accountants.Sponsors FreshBooks - http://accountingpodcast.promo/freshbooksRelay - http://accountingpodcast.promo/relay Webgility - http://accountingpodcast.promo/webgilityChapters(03:04) - H&R Block is creating a reality TV show (08:51) - WSJ Op-Ed says IRS agents shouldn't work from home (12:21) - The Accountant 2 gets a big tax credit (14:42) - South Carolina finds $2 billion in bank account (20:49) - Bloomberg article on the lack of accountants (23:18) - Regional banks in trouble? (27:00) - Lyft being sued by their shareholders (29:39) - Is bad workflow automation the cause of bad work/life balances? (37:42) - CPA Trendlines: "Which Niche is the Best Niche?" (46:28) - TurboTax and H&R Block are using AI giving awful tax advice (50:12) - Blake shares new SEC rule's GPT he made (53:19) - AI and data privacy concerns (55:48) - Can AI predict when you'll die? (01:01:37) - Former Trump CFO Allen Weisselberg pleads guilty to perjury (01:03:56) - Thanks for listening and remember to subscribe  Show Notes2024 Report: The State of Accounting Workflow Automationhttps://financial-cents.com/resources/articles/2024-report-state-of-accounting-workflow-automation/ Gartner Survey Shows That a Third of Accountants Make Several Financial Errors Per Week due to Capacity Constraints       https://www.gartner.com/en/newsroom/press-releases/2024-02-21-gartner-survey-shows-that-a-third-of-accountants-make-several-error-per-weeo-due-to-capacity-constraints The U.S. is short 340,000 accountants-just look at the wave of earnings report mistakeshttps://fortune.com/2024/03/01/accounting-shortage-earnings-report-mistakes/ Intuit, H&R Block tax AIs critiqued on accuracyhttps://www.accountingtoday.com/news/intuit-h-r-block-tax-ais-critiqued-on-accuracy-of-answers-many-inaccurate SC accounting error gets renewed focus over $1.8B sitting in state bank accounthttps://www.southcarolinapublicradio.org/sc-news/2024-03-05/legis-treasurermoney Ex-Trump Org CFO Pleads Guilty to Perjury in Fraud Casehttps://www.cpapracticeadvisor.com/2024/03/05/ex-trump-org-cfo-pleads-guilty-to-perjury-in-fraud-case/102306/ H&R Block to Release Short Format Comedy Streaming Series, “Responsibility Island”https://www.cpapracticeadvisor.com/2024/02/29/hr-block-to-release-short-format-comedy-streaming-series-responsibility-island/102172/ Federal court holds Corporate Transparency Act unconstitutionalhttps://www.journalofaccountancy.com/news/2024/mar/federal-court-holds-corporate-transparency-act-unconstitutional.html Lyft earnings report error prompts shareholder lawsuit              https://finance.yahoo.com/news/lyft-earnings-report-error-prompts-150849490.htmlNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsFutureFirm - https://futurefirmaccelerate.com/capRoyalwise - https://royalwise.com/partnerForwardly - https://www.forwardly.com/ClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel ma...

Discussing Withum's $2M fine for poor audit quality on SPAC audits, the podcast explores workload issues with overworked teams and partners clocking 100+ hour weeks. Delving into resource management challenges, the episode debates whether fines are enough to bring about change or just seen as a cost of business.

Exploring surge pricing in tax returns to boost revenue, new AI tools from Sage and Xero, Zoho's practice management suite, FTC vs. H&R Block, can AI teach accounting, listener survey results, AI generating average listener image

Aaron Harris joins Blake and David to discuss Sage's new AI offering, Sage Copilot, which brings generative intelligence into Sage Intacct to eliminate routine accounting work. They discuss specific use cases Copilot handles, like chasing people for approvals/documents, drafting emails, and answering ad hoc questions without running reports. Aaron also shares his perspective on AI’s impact on the accounting profession and why increased automation will make human review and trust even more essential.Meet Our Guest, Aaron Harris, CTO, SageLinkedIn: https://www.linkedin.com/in/aaron-harris-7407b2/Twitter: https://twitter.com/i/flow/login?redirect_after_login=%2FAaronRHarrisLearn more about Sagehttp://www.sage.comListener SurveyPlease take our listener survey: https://accounting.show/surveyNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

The podcast discusses Lyft's stock price surge due to a financial typo, AI in customer service, alternatives to the 150-hour rule. They also cover commercial real estate taxes, AI monitoring of employee communications, and IRS plans to collect $500 billion more in taxes.

Exploring reasons why accountants quit public firms, including salary, burnout, and work-life balance. Discussing career transitions to public accounting, companies, and private equity. Addressing talent shortage, online perceptions, and career progression challenges. Highlighting solutions for improving retention rates through increased compensation and flexible benefits.

Blake and David break down the IRS's $99 million paper-check limit, how states use tax credits to attract movie productions (sometimes unsuccessfully) and give their take on actor Kenan Thompson losing $1.5 million to fraud as a child. They also cover couples arguing over finances, AI answering tax questions in California, accounting rules hiding commercial real estate loan losses on bank balance sheets, and the lack of action from accounting standards boards to change these rules.SponsorsLiveFlow - http://accountingpodcast.promo/liveflow Relay - http://accountingpodcast.promo/relayClient Hub - http://accountingpodcast.promo/clienthubChapters(00:40) - What's the largest check you can write to the IRS? (05:38) - Jeff Bezos could be saving $600 million from moving to Florida (14:44) - Why movie studios are throwing out projects for tax breaks (21:03) - Keenan Thompson's accountant stole $1.5 million from him (26:27) - How much of relationship problems are finance-related? (31:38) - California plans to use AI to help answer people's tax questions (35:51) - PwC UK boss says AI is why workers should be in the office (40:45) - Silicon Valley Bank collapse follow-up and why it could happen again (51:09) - Thanks for listening and check out the Unofficial Quickbooks Accountants Podcast  Show NotesWarner Bros.' Disgusting Accounting Trick May Find an Opponent in the U.S. GovernmentIRS Seeks More Than $1 Billion From SVB for TaxesIRS sues FDIC to get $1.45B in SVB back taxes       Mayweather’s $18 Million Check To The IRS Packs A Punch, But Is Under The $100 Million Weight LimitCalifornia plans to use AI to answer your tax questionsJeff Bezos will save over $600 million in taxes by moving to MiamiThe Indicator from Planet Money : NPR  Mayweather’s $18 Million Check To The IRS Packs A Punch,But Is Under The $100 Million Weight Limit Jeff Bezos reaps Florida tax benefit with $4B Amazonshare sale Young staff need to be in the office because of AI, saysPwC's UK boss | Accounting Today Money is the Biggest Relationship Hurdle for 1 in 4Couples, Survey Reveals - CPA Practice Advisor Kenan Thompson Reveals a Crooked Accountant Stole $1.5Million From Him During His Nickelodeon Days | Video When accountants attack: why Netflix is cancelling HalleBerry’s new sci-fi movie Ben Affleck Reportedly Filming The Accountant 2 This Year FASB Won’t Consider Changes in Securities AccountingAfter Bank Failures - WSJNew York Community Bank’s Commercial Real Estate LoanProblem May Be Isolated, Experts Say Banking Crisis Plays Out at America’s Smallest LendersListener SurveyPlease take our listener survey: https://accounting.show/surveyNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast:...

Chayton Farlee, an accounting student, shares his journey from cleaning carpets to pursuing CPA and CMA. They discuss the disconnect between accounting theory and real-world application, the importance of bookkeeping skills, and considerations between Big Four firms and smaller firms.

The podcast discusses the risks of e-filing taxes, deepfake video calls causing theft, AI accounting startups raising money, major accounting firms turning to private equity, the impact of 150-hour rule on diversity in the accounting profession, and Google's Gemini AI release.