Feds Target KPMG Polymarket Insider Trading, ComplYant Founder Charged with Wire Fraud

Could AI make a one-person audit firm possible—and what happens if the data-center boom slows down first? Blake and David examine the AI economy’s circular debt, the construction ripple effects of a pullback, and practical ways firms can document workflows before automating them. They also cover AI-powered continuous audits, Mercury’s new general ledger, and tax evasion headlines.SponsorsDigits - http://accountingpodcast.promo/digitsThomson Reuters - http://accountingpodcast.promo/taxautomationOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - OnlyFans Tax Evasion (00:27) - Podcast Welcome Halloween (04:02) - News Lineup (06:34) - AI Bubble Warning (14:14) - AI Adjusted EBITDA (18:07) - SOP Marathon For AI (21:19) - AI SOP Workflow Tip (26:41) - Christina Ho AI Audits (29:22) - Audit Fees Under AI (29:55) - Audit Fees Surge (30:57) - AI Disrupts Audits (33:56) - Solo CPA Audit Firm (35:26) - Who Wins and Loses (35:52) - Audit Demand Explained (36:40) - Tech Enables New Entrants (38:26) - Audit Like Cloud Accounting (42:00) - ‌ (43:03) - IRS Refund Nightmare (44:33) - OnlyFans Tax Evasion (46:51) - Punishing Financial Crime (49:59) - Mercury Launches Books (52:22) - Can Banks Compete (54:33) - Is Mercury Enough (56:44) - Wrap Up and CPE  Show NotesNRF: Halloween spending to remain strong, reach $13.5Bhttps://chainstoreage.com/nrf-halloween-spending-remain-strong-reach-135bToo interconnected to fail? New paper connects the AI dotshttps://www.axios.com/2026/09/21/ai-finance-credit-circularThe AI gold rush has a dress code: steel-toe bootshttps://finance.yahoo.com/economy/articles/ai-gold-rush-dress-code-233725771.html40% of Small Businesses Lack Cash Reserves to Survive a Month of Late Client Paymentshttps://www.cpapracticeadvisor.com/2026/09/21/40-of-small-businesses-lack-cash-reserves-to-survive-a-month-of-late-client-payments/190371/AI Future Savings Is Latest Ebitda Tweak to Jolt Debt Investorshttps://www.bloomberg.com/news/articles/2026-09-17/ai-future-savings-is-latest-ebitda-tweak-to-jolt-debt-investorsHow to run a SOPathon: The missing first step in every AI strategyhttps://www.accountingweb.co.uk/community/industry-insights/how-to-run-a-sopathon-the-missing-first-step-in-every-ai-strategyThe 3-phase roadmap every accounting firm needs before AI delivershttps://www.accountingtoday.com/opinion/the-3-phase-roadmap-every-accounting-firm-needs-before-ai-deliversProcess Street MCP Serverhttps://www.process.st/help/docs/mcp-server/Christina Ho's next acthttps://www.cfobrew.com/stories/christina-hos-next-actAI sounds the death knell for audit fee inflationhttps://www.ft.com/content/80d02797-9a54-47e0-8bc3-a7144354da93Tennessee Farmer Tried to Return $20,000 to IRS. Years Later, He's Still Fightinghttps://www.cpapracticeadvisor.com/2026/07/23/tennessee-farmer-tried-to-return-20000-to-irs-years-later-hes-still-fighting/187281/OnlyFans content creator pleads guilty to tax evasionhttps://www.irs.gov/compliance/criminal-investigation/onlyfans-content-creator-pleads-guilty-to-tax-evasionMercury Launches Intelligent Accounting with Mercury Bookshttps://www.morningstar.com/news/business-wire/20260916850195/mercury-launches-intelligent-accounting-with-mercury-booksNeed 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 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://cloudacctpo...

Is AI the real threat to accounting firms, or is it the client experience? Blake and David unpack a KPMG-linked Polymarket insider-trading investigation, AI-powered fraud, Xero’s influencer backlash, and a tax startup founder charged with defrauding investors. They also share their own experiments using Claude and ChatGPT to prepare tax returns, making the case that firms must eliminate frustrating back-and-forth if they want to keep clients.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casOnPay - http://accountingpodcast.promo/onpayThomson Reuters - http://accountingpodcast.promo/taxautomationSavant Labs - http://accountingpodcast.promo/savantChapters(00:00) - Client Experience Threat (00:30) - Podcast Welcome Banter (02:05) - Week's News Rundown (04:17) - KPMG Polymarket Probe (11:46) - KPMG TaxSim Training (13:40) - KPMG OpenAI Headless UI (17:13) - Deepfake Defense Stakes (18:31) - Revolut Social Engineering (20:33) - Compliant CEO Fraud Case (25:31) - Xero Influencer Backlash (25:41) - Xero Claude Ad Backlash (28:57) - Apology and AI Framing (29:59) - DIY Taxes With AI (34:05) - Client Experience Problem (40:15) - IRS AI Fee Guidance (43:00) - PwC Leaves Downtown LA (44:48) - Wrap Up and CPE  Show NotesPolymarket Trader Won 41 of 42 Earnings Bets on Companies KPMG Auditshttps://www.financemagnates.com/forex/polymarket-trader-won-41-of-42-earnings-bets-on-companies-kpmg-audits/SEC Charges Startup Founder with Fraud (Shiloh Luckey / ComplYant)https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26424KPMG Is Testing a New AI-Powered Tax Simulation Toolhttps://goodfest.westfield.com/2026/05/kpmg-is-testing-a-new-ai-powered-tax-simulation-tool/KPMG working with OpenAI to advance new "headless" enterprise tech modelhttps://www.accountingtoday.com/news/kpmg-working-with-openai-to-advance-new-headless-enterprise-tech-modelKPMG LLP Takes Minority Stake in Deepfake Detection Leader Reality Defenderhttps://kpmg.com/us/en/media/news/kpmg-llp-takes-minority-stake-in-deepfake-detection-leader-reality-defender.htmlCybercriminals using AI for fraud are making far more profit, Interpol claimshttps://www.techradar.com/pro/security/cybercriminals-using-ai-for-fraud-are-making-4-5x-more-profit-interpol-saysRevolut confirms customer data breach after fake government requestshttps://fstech.co.uk/fst/Revolut_Confirms_Customer_Data_Breach_After_Fake_Government_Requests.phpXero issues new apology to accountants, days after controversial social media posthttps://www.smartcompany.com.au/?p=344586To our accountant and bookkeeper communityhttps://blog.xero.com/uk/accountants-bookkeepers/to-our-accountant-and-bookkeeper-community/AICPA seeks IRS clarity on AI guidelines, CPA feeshttps://www.thetaxadviser.com/news/2026/sep/aicpa-seeks-irs-clarity-on-ai-guidelines-cpa-fees/Downtown L.A. Fixture PwC Will Move to Century Cityhttps://www.cpapracticeadvisor.com/2026/07/08/downtown-l-a-fixture-pwc-will-move-to-century-city/186368/Need 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 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/OvercastClassifieds Fearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job post...

Can AI prepare a tax return—and catch errors the software misses? Blake shares how Claude Cowork reconciled books, built workpapers, and completed two business returns, while David examines EY’s bonuses for human judgment, Deloitte’s $21 million DEI settlement, and PwC’s Evergrande exposure. Plus, Cloud Accountant Staffing’s Jordan Sublette explains why onshoring is joining offshore hiring strategies for accounting firms.SponsorsOnPay - http://accountingpodcast.promo/onpayThomson Reuters - http://accountingpodcast.promo/taxautomationSavant Labs - http://accountingpodcast.promo/savantCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Ethics And Job Security (00:18) - Show Intro And Headlines (02:34) - Livestream Shoutouts (03:03) - Claude CoWork Tax Prep (06:54) - AI Catches TaxAct Errors (11:26) - Accrual Buys Puzzle (18:19) - EY Human Skills Bonuses (20:33) - Deloitte DEI Settlement (27:43) - Salaries And Big Four Fallout (31:22) - PwC Evergrande Liability (35:03) - Grant Thornton Buys CBIZ (36:25) - CBIZ Returns Reality Check (37:23) - Marcum Deal And Partner Payouts (38:34) - IRS Revenue Hits Record (40:50) - Chat Reactions And AI Ledgers (44:03) - AI Cost Seg Pitfalls (53:00) - Jordan Joins And Origin Story (55:06) - Jason Staats Partnership Explained (59:37) - Onshoring Portal And Pricing (01:04:58) - Candidate Vetting And Training (01:09:37) - Meetups And CPE Wrap Up  Show NotesAccrual to Acquire Puzzle to Expand Into Client Accounting Serviceshttps://www.cpapracticeadvisor.com/2026/09/02/accrual-takes-the-leap-into-cas-by-acquiring-puzzle/189565/EY Rewards Employees' Human Skills With $100Mhttps://www.accountingtoday.com/news/ey-rewards-employees-human-skills-with-100mDeloitte to Pay $21.5M to Settle Claims Its DEI Programs Violated Federal Civil Rights Lawhttps://www.cfo.com/news/deloitte-to-pay-215m-to-settle-claims-its-dei-programs-violated-federal-c/828948/Accounting Firm Salaries Rose Slightly This Yearhttps://www.cfobrew.com/stories/accounting-firm-salaries-rose-slightly-this-yearKPMG Australia to Axe 5% of Workforcehttps://www.cfo.com/news/kpmg-australia-to-axe-5-of-workforce-John-Sams/828636/PwC International Can't Exit Evergrande Case, HK Court Ruleshttps://www.bloomberg.com/news/articles/2026-08-26/pwc-international-can-t-exit-evergrande-case-hk-court-rulesCBIZ Told Grant Thornton No, No, No, Before Saying Yeshttps://cpatrendlines.com/2026/09/01/cbiz-told-grant-thornton-no-no-no-before-saying-yes/IRS Enforcement Activity Fell Despite Record Tax Collections, TIGTA Sayshttps://www.journalofaccountancy.com/news/2026/aug/irs-enforcement-activity-fell-despite-record-tax-collections-tigta-says/Cost Segregation in the Age of AI: What the IRS Audit Technique Guidelines Revealhttps://www.accountingtoday.com/opinion/cost-segregation-in-the-age-of-ai-what-the-irs-audit-technique-guidelines-revealNeed 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 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/OvercastClassifieds Fearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want 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/RunClassifiedAdTranscriptsTh...

Can AI make tax prep cheaper without replacing the experts behind it? Hector Garcia joins Blake and David to unpack Intuit’s TurboTax pricing pressure, QuickBooks’ push into the mid-market, and whether AI-powered services are a bridge to automation. They also examine Thomson Reuters’ proprietary tax-and-legal AI model, Relate’s $100 million raise, and a student’s unusual path onto the New Mexico Board of Accountancy.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casThomson Reuters - http://accountingpodcast.promo/taxautomationOnPay - http://accountingpodcast.promo/onpaySavant Labs - http://accountingpodcast.promo/savantChapters(00:00) - TAP 503 (02:47) - Intuit earnings overview (03:52) - Meet Hector Garcia (04:40) - Intuit stock and AI fears (07:57) - TurboTax pricing pressure (11:34) - TurboTax Live strategy shift (16:12) - TurboTax Live vs firms (19:47) - AI plus human bridge (22:13) - QuickBooks Free and Light (25:54) - Thomson Reuters builds LLM (30:29) - Trust security and ownership (34:16) - Vertical models disrupt giants (35:18) - Copilot partnership pitch (36:51) - Bulk AI Adoption (38:59) - Rillet Unicorn News (39:21) - Workday Buyout Math (40:50) - Switching Costs Reality (43:12) - Intuit Versus Rillet (45:26) - How Rillet Wins (48:18) - AI Spend Line Item (51:15) - Stripe Buys OpenRouter (53:22) - Reframe Conference Pitch (56:01) - Pablo Pledgebar Cautionary (57:08) - Britton Joins Board (01:01:37) - Student View On PE (01:04:57) - Education And AI Concerns (01:09:33) - Board Dynamics Explained (01:12:12) - Regulation Priorities (01:15:13) - Wrap Up And CPE  Show NotesIntuit Reports Fourth Quarter and Full Year Fiscal 2026 Results; Sets Fiscal 2027 Guidancehttps://investors.intuit.com/news-events/press-releases/detail/1320/intuit-reports-fourth-quarter-and-full-year-fiscal-2026-results-sets-fiscal-2027-guidanceThomson Reuters Leverages its World-Class Data Assets to Launch Its Own Frontier Modelhttps://www.thomsonreuters.com/en/press-releases/2026/august/thomson-reuters-leverages-its-world-class-data-assets-to-launch-its-own-frontier-modelRillet Raises $100 Million Series C at $1 Billion Valuation, Becomes Unicornhttps://techcrunch.com/2026/08/19/rillet-raises-100m-series-c-at-1b-valuation-2-years-after-emerging-from-stealth/Silver Lake Eyes $51 Billion Workday Take-Private in Mega Software Dealhttps://www.axios.com/2026/08/14/silver-lake-workday-take-privateStripe Agrees to Acquire OpenRouter to Help Businesses Optimize Token Routing and Usagehttps://stripe.com/newsroom/news/stripe-agrees-to-acquire-openrouterFrom Accounting Major and Frat Brother to Suspected of Being Penn State's Largest Drug Dealerhttps://www.nbcnews.com/news/us-news/penn-state-agostino-abbatiello-drug-scheme-rcna593041Accounting Student Appointed to the New Mexico Public Accountancy Boardhttps://news.unm.edu/news/accounting-student-appointed-to-the-new-mexico-public-accountancy-boardNeed 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 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/OvercastClassifieds Fearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want 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 to...

AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional.SponsorsCanopy - http://accountingpodcast.promo/canopyThomson Reuters - http://accountingpodcast.promo/taxautomationOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Welcome to The Accounting Podcast (03:00) - Rogue AI Agents Gone Wild (07:53) - Controlling Agent Permissions (12:08) - Microsoft AI Receivables Surge (14:49) - Three Trillion Off Book Commitments (17:09) - Meta Hyperion Lease Loopholes (21:33) - Bubble Risk and Circular Financing (28:24) - XeroCon Highlights and AI Agents (32:21) - Bank Reconciliation and Roadmap Gripes (34:10) - Conference Vaporware Rant (34:37) - Billionaire Tax Preview (36:33) - Prop 40 Basics (38:40) - Revenue Reality Check (42:44) - Residency Cutoff Drama (45:01) - Wealth Tax vs Income Tax (45:52) - One Time Or Not (46:34) - Healthcare Backfill Claims (51:42) - Better Ways To Tax (55:23) - Constitutional Challenges (58:01) - Why Voters Oppose It (01:02:09) - Trial Balloon And Wrap Up  Show NotesComing soon!Need 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 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/OvercastClassifieds Flowglad - https://cal.com/team/flowglad/flowgladFearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want 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

Is AI creating an audit boom—or hiding the next Enron-style risk? Blake and David unpack NVIDIA’s $500 billion data-center financing plan, why Michael Burry sees warning signs, and how AI is speeding up audits while challenging existing standards. They also cover improved PCAOB inspection results, the end of BOI reporting, Tether’s long-awaited audit, QuickBooks Live’s overhaul, and practical AI workflows small firms can use today.SponsorsDigits - http://accountingpodcast.promo/digitsOnPay - http://accountingpodcast.promo/onpayThomson Reuters - http://accountingpodcast.promo/taxautomationCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - AI Biggest Audit Shift (01:35) - Headlines And Sponsors (02:20) - Digits AI Ledger (04:02) - Nvidia Deal Explained (06:31) - Enron Echoes And SPVs (09:46) - Bubble Risks And GAAP (12:31) - EY Audit Efficiency Claims (15:25) - PCAOB Reports Debate (17:40) - OnPay Payroll Sponsor (18:53) - FinCEN Ends BOI (19:52) - Audit AI Adoption Stats (21:08) - PCAOB Must Set AI Rules (25:52) - Quarterly Reporting Comments (29:17) - Tether Finally Audited (33:17) - Thomson Reuters Tax Automation (35:07) - Ancient Rome Tax Scam (38:45) - Why Tax Fraud Meant Death (39:18) - Clients Want AI Dashboards (39:45) - Small Firm AI Workflows (44:35) - Sponsor Cloud Staffing (45:49) - AI Raises Client Demands (46:27) - Audit Disruption Debate (48:35) - QuickBooks Live Rebrand (51:10) - Taiwan Receipt Lottery (54:40) - OnPay Benefits Upgrade (01:05:17) - Switch Payroll Midyear (01:09:19) - Wrap Up And CPE  Show Notes'Shades of Enron': Michael Burry shorts Nvidia as its $500 billion chip-financing deal fuels a bubblehttps://sg.finance.yahoo.com/news/nvidia-ai-push-echoes-enron-123355872.htmlEY leverages AI for audithttps://www.accountingtoday.com/news/ey-leverages-ai-for-auditIn ancient Rome, tax fraud was punishable by deathhttps://www.popsci.com/science/tax-fraud-death-penalty-ancient-rome/PCAOB inspection reports of largest audit firms show improvementshttps://www.accountingtoday.com/news/pcaob-inspection-reports-of-largest-audit-firms-show-improvementsFinCEN ends beneficial ownership reportinghttps://www.accountingtoday.com/news/fincen-ends-beneficial-ownership-reportingGartner Survey Finds Audit Teams' AI Use is Common, But Most Teams are Lacking Strategic Adoption and Applicationhttps://www.gartner.com/en/newsroom/press-releases/2026-08-10-gartner-survey-finds-audit-teams-ai-use-is-common-but-mostIt's Time for the US Audit Board to Set Corporate AI Standardshttps://news.bloombergtax.com/tax-insights-and-commentary/its-time-for-the-us-audit-board-to-set-corporate-ai-standardsSEC quarterly earnings proposal draws flood of public complaintshttps://finance.yahoo.com/markets/stocks/articles/sec-quarterly-earnings-proposal-draws-112015106.htmlFirms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AIhttps://www.goingconcern.com/firms-and-some-guy-obsessed-with-china-have-weighed-in-on-the-pcaob-turning-an-eye-to-ai/Tether says KPMG issued 'clean' opinion in first full audit of USDT issuer's financialshttps://www.coindesk.com/business/2026/08/13/tether-says-it-completed-long-promised-big-four-audit-of-finances-behind-usd180-billion-usdt-stablecoinReal-life ways small firms use AIhttps://www.journalofaccountancy.com/issues/2026/aug/real-life-ways-small-firms-use-ai/QuickBooks Live is Dead, Long Live Intuit Expertshttps://uqb.show/154Need 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 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:

What does episode 500 reveal about where accounting is headed? Blake Oliver and David Leary celebrate the milestone with CFO.com’s Adam Zaki and Going Concern’s Adrienne Gonzalez. They unpack AI’s pressure on billable hours, shrinking entry-level pathways, the changing route to CFO, and PwC’s canceled Disney intern event. Plus, Blake shares what happened after NASBA challenged his CPE comments.SponsorsOnPay - http://accountingpodcast.promo/onpayCanopy - http://accountingpodcast.promo/canopyThomson Reuters - http://accountingpodcast.promo/taxautomationCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - ‌ (00:20) - Episode 500 Kickoff (02:59) - Origin Story Live Chat (07:22) - Billable Hour Fading (13:36) - AI Knowledge vs Data Risk (16:21) - PwC Intern Disney Cut (24:31) - Pyramid to Diamond Firms (34:29) - CFO Pathway Disrupted (37:25) - AI Without Apprenticeship (38:55) - Would You Work for AI (39:47) - CFO Pipeline Shrinking (41:11) - Skipping Entry Level (43:15) - Simulations vs Real Work (45:05) - Metaverse Training Fail (47:35) - Crypto Fraud Irony (49:10) - Listener Milestones (51:58) - Billable Hour Debate (01:01:21) - AI Auditing Future (01:02:33) - NASBA Speech Clash (01:11:48) - Wrap Up and Thanks  Show NotesCrossCountry Consulting's new co-CEOs say billable hour is 'waning'https://www.cfo.com/news/crosscountry-consulting-new-co-ceo-amy-bjarnason-neil-smith-discuss-their-industrys-future/826266/Diamonds May Be a Firm's Best Strategy: How AI Is Rewriting the Structure of Modern Practicehttps://www.cpapracticeadvisor.com/2026/08/05/diamonds-may-be-a-firms-best-strategy-how-ai-is-rewriting-the-structure-of-modern-practice/188060/Teikametrics CFO Brian Beaupre says the career path he took is disappearinghttps://www.cfo.com/news/teikametrics-cfo-brian-beaupre-says-the-career-path-he-took-is-disappearing-cfo-leadership-council-/824716/The Age of Artificial Intelligence: Quinnipiac University Poll on AIhttps://poll.qu.edu/poll-release?releaseid=3955We Went to the Boot Camp Where KPMG Teaches Auditors to Think Criticallyhttps://www.wsj.com/business/kpmg-summer-interns-auditing-ai-training-941ad5ccIn Case You Didn't Hear, PwC Interns Won't Be Swarming Disney World This Yearhttps://www.goingconcern.com/in-case-you-didnt-hear-pwc-interns-wont-be-swarming-disney-world-this-year/Bitquery CEO Faces $5M Theft Claim, 194 Records Deletedhttps://www.analyticsinsight.net/news/bitquery-ceo-faces-5m-theft-claim-194-records-deletedNeed 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 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/OvercastClassifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026Flowglad - https://cal.com/team/flowglad/flowgladWant 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

Could Grant Thornton’s $5 billion CBIZ deal create a Big Five? Blake and David unpack the private-equity-backed combination, what it means for accounting firm ownership, and why controller talent is still hard to find. They also examine AI’s effect on finance judgment—and why nearly half of Gen Z workers say it makes them less intelligent—plus tariff refunds, audit scrutiny, and rising software prices.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casOnPay - http://accountingpodcast.promo/onpayThomson Reuters - http://accountingpodcast.promo/taxautomationVeltrix - http://accountingpodcast.promo/veltrixChapters(00:00) - TAP 499 (02:17) - Livestream and CPE Plug (03:12) - Grant Thornton Buys CBIZ (04:35) - Stock Spike and Activists (09:06) - PE Strategy and IPO Exit (11:09) - Deal Size vs Big Four (13:21) - Trump Immunity and Nominee (16:39) - EY Hack Claim Explained (18:56) - Trump Deal Appeal Update (21:37) - Controller Hiring Crunch (23:21) - Senior Pay Flattening (26:24) - Corporate Hiring Demand (27:59) - AI Boosts Finance Judgment (29:38) - Claude Transforms Forecasting (30:43) - Gen Z AI Dependency Fears (34:32) - Xero Price Hike Backlash (36:45) - Lovable Connector Moat (40:38) - Agents Use Existing SaaS (45:29) - Tariff Refund Windfall (48:20) - NYC Pied-a-Terre Tax (51:44) - PwC UK Audit Failures (55:03) - Wrap Up and Episode 500  Show NotesGrant Thornton Advisors to acquire CBIZ in $5 billion transactionhttps://www.cpapracticeadvisor.com/2026/07/29/grant-thornton-set-to-buy-cbiz-for-5-billion-become-5th-largest-firm-in-u-s/187542/Accounting Firm CBIZ Urged by Activist Investor to Pursue M&Ahttps://www.bloomberg.com/news/articles/2026-07-07/accounting-firm-cbiz-urged-by-activist-investor-to-pursue-m-aTrump floats pulling Blanche's AG nomination until after GOP holdouts leave officehttps://www.cnbc.com/2026/07/30/trump-blanche-ag-doj-cornyn-tillis.htmlDonald Trump's tax audit immunity remains in place as Blanche's path to confirmation is clearedhttps://www.reviewjournal.com/news/politics-and-government/as-blanches-path-to-confirmation-is-cleared-trumps-tax-audit-immunity-remains-in-place-3858601/Ernst & Young data breach claimed by ShinyHunters extortion ganghttps://www.bleepingcomputer.com/news/security/ernst-and-young-data-breach-claimed-by-shinyhunters-extortion-gang/2026 Corporate Finance & Accounting Talent Research Studyhttps://controllerscouncil.org/2026-corporate-finance-accounting-talent-research-study/Accounting's missing middlehttps://www.accountingtoday.com/news/accountings-missing-middleA third of companies look to increase finance and accounting hireshttps://www.cfo.com/news/companies-look-to-boost-hiring-pay-for-finance-and-accounting-staff-controllers-council-report/824667/AI's top value for finance now lies in improving judgment, not efficiencyhttps://finance.yahoo.com/technology/ai/articles/ai-top-value-finance-now-085159658.htmlNearly Half of Gen Z Workers Say AI is Making Them Less Intelligenthttps://www.cpapracticeadvisor.com/2026/05/19/nearly-half-of-gen-z-workers-say-ai-is-making-them-less-intelligent/183621/Xero Announces U.S. Subscription Price Changeshttps://www.xero.com/us/pricing-plans/update/Introducing the Lovable Xero connector: build on your Xero data, no code requiredhttps://devblog.xero.com/introducing-the-lovable-xero-connector-build-on-your-xero-data-no-code-required-386873b591bcWe Peaked at 30 AI Agents. Now We're Coming Back Down to 20https://www.saastr.com/we-peaked-at-30-ai-agents-now-were-coming-back-down-to-20-heres-what-consolidation-actually-looks-like-the-agents-011-live/Amazon Got a $600 Million Tariff Refund, Some Going to Shoppershttps://www.cnbc.com/2026/07/30/amazon-trump-tariff-refunds.htmlNYC Extends Deadline for Pied-à-Terre Tax Exemption Applications to Sept. 18https://www.bloomberg.com/news/articles/2026-08-01/nyc-extends-deadline-for-second-home-levy-exemption-requestsStaten Island Homeowners Say They Fear for Safety After Names, Addresses Published on NYC Tax Listhttps://www.cpapracticeadvisor.com/2026/07/31/staten-island-homeowners-say-they-fear-for-safety-after-names-addresses-published-on-nyc-tax-list/187775/PwC Fined $4.4 Million by UK Watchdog Over Babcock Audit Failureshttps://www.globalbankingandfinance.com/uk-financial-watchdog-fines-pwc-4-4-million-over-babcock/New York Governor Trolls LeBron James with Tax on Rumored NYC Homehttps://www.cpapracticeadvisor.com/2026/07/31/new-york-governor-trolls-lebron-james-with-tax-on-rumored-nyc-home/187765/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: ...

Could an AI agent decide to hack a system, or cancel your software subscription just to complete its task? Blake and David examine reports of AI agents escaping guardrails, flooding IRS rulemaking with generated comments, and taking autonomous business actions. They also trace accounting from ancient clay tokens to today’s AI economy, exploring why calculating profit and trustworthy records matter more than ever.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casThe Value Builder System - http://accountingpodcast.promo/valueOnPay - http://accountingpodcast.promo/onpayVeltrix - http://accountingpodcast.promo/veltrixChapters(00:00) - Profit First Accounting (00:33) - Dumb Accounting AI (02:40) - AI Guest Pitch Email (07:21) - When Agents Go Rogue (09:38) - OpenAI Agent Hacks Out (11:57) - Waymo Laws And Goals (16:33) - IRS Chief Spy Claims (19:28) - AI Floods IRS Comments (23:30) - SaaStr AI Cancels SaaS (28:09) - Ode To Accounting Site (29:54) - Accounting Births Writing (31:24) - Double Entry Changes Everything (32:09) - Industrial Era Standards (33:29) - Internet Cloud And AI (34:19) - Hosts React Tokens Return (36:49) - Profit Cost Accounting And AI (39:33) - Round Tripping Explained (44:00) - IRS EIN Breakdown (46:19) - Trump Accounts Adoption (48:20) - Tax Leak Sentencing Debate (50:23) - KPMG Australia Shakeup (52:09) - QuickBooks MCP Workflows (55:52) - Intuit Card Versus Ramp (57:35) - Ramp Stablecoin And Token Spend (01:00:39) - Wrap Up And Where To Find Us  Show NotesOpenAI and Hugging Face partner to address security incident during model evaluationhttps://openai.com/index/hugging-face-model-evaluation-security-incident/Trump's IRS Chief Frank Bisignano Accused of Using Hi-Tech Software to Spy on Colleagues' Emails at JPMorganhttps://www.thedailybeast.com/trumps-irs-chief-frank-bisignano-accused-of-using-hi-tech-software-to-spy-on-colleagues-emails-at-jpmorgan/IRS blitzed with AI-generated comments on proposed tax ruleshttps://www.accountingtoday.com/news/irs-blitzed-with-ai-generated-comments-on-proposed-tax-rulesYour Agents Are About to Start Firing Your Vendors. Ours Fired Marketo.https://www.saastr.com/your-agents-are-about-to-start-firing-your-vendors-ours-fired-marketo/Basis offers AI agents, love letters and an ode to accountinghttps://www.accountingtoday.com/news/basis-offers-ai-agents-love-letters-and-an-ode-to-accounting7 Million Trump Accounts Have Been Opened, Administration Sayshttps://www.cpapracticeadvisor.com/2026/07/29/7-million-trump-accounts-have-been-opened-administration-says/187586/DC Circuit Denies Littlejohn Appeal and the Need for Privacy Protections Remainshttps://www.ntu.org/foundation/detail/dc-circuit-denies-littlejohn-appeal-and-the-need-for-privacy-protections-remainsKPMG Australia appoints new CEOhttps://www.internationalaccountingbulletin.com/news/kpmg-australia-appoints-new-ceo/KPMG Fires Former COO Eileen Hoggett Over Confidentiality Breachhttps://news.ssbcrack.com/kpmg-fires-former-coo-eileen-hoggett-over-confidentiality-breach/QuickBooks Expands Into Claude and ChatGPT with New Featureshttps://www.intuit.com/blog/news-social/quickbooks-expands-into-claude-and-chatgpt-with-new-sales-invoicing-payroll-and-lending-features/Intuit Launches Business Credit Card That Brings Spend Management, Rewards, and Insights Together in QuickBookshttps://investors.intuit.com/news-events/press-releases/detail/1316/intuit-launches-business-credit-card-that-brings-spend-management-rewards-and-insights-together-in-quickbooksRamp Brings Stablecoin Accounts and Payments to All Customershttps://www.prnewswire.com/news-releases/ramp-brings-stablecoin-accounts-and-payments-to-all-customers-302830447.htmlRamp Launches AI Token Spend Controlshttps://www.prnewswire.com/news-releases/ramp-launches-ai-token-spend-controls-302827389.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 Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessities

Can one accountant really do tax prep five times faster with AI? Blake and David talk with Sam Leon, founder of The Millennial CPA, about how he uses Claude projects to turn client documents into tax workpapers, speed up review, and run a solo firm built around software. They also dig into where AI still falls short, why review remains the bottleneck, and what firms can realistically automate today.SponsorsDigits - http://accountingpodcast.promo/digitsThe Value Builder System - http://accountingpodcast.promo/valueOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Autonomous AI Reality Check (00:11) - Show Welcome and Interview Tease (00:55) - Sponsor Spotlight Digits (02:34) - Trump IRS Deal Dismissed (05:20) - California Billionaire Tax Fight (07:35) - New York Pied a Terre Tax (09:29) - Sponsor Spotlight Value Builder System (11:18) - Xero CEO Pay and Stock Sale (16:39) - Verification Tax and AI Jobs (22:06) - Sponsor Spotlight OnPay (23:21) - 1948 IBM Accounting Machine Lesson (29:56) - Sponsor Spotlight Cloud Accountant Staffing (31:07) - Meet Sam Leon Millennial CPA (32:01) - Solo Firm Vision (33:15) - From Big Firms to Millennial CPA (35:42) - Why AI Agents Weren’t Ready (37:19) - Automating Tax Prep Workflow (40:33) - Smart Intake for Better Scoping (43:06) - End to End Return Automation (46:04) - AI Workpapers and Review (49:38) - Claude Setup and Time Savings (58:18) - Tech Spend and Pricing Strategy (01:02:52) - Building TaxWeave Platform (01:06:21) - Wrap Up and CPE Info  Show NotesJudge Smacks Down Trump's IRS Settlement And Orders Sanctionshttps://www.cnn.com/2026/07/13/politics/trump-irs-judge-ruling-settlement-sanctionsInstead of Uniting the Left, California's Billionaire Tax Measure Has Split Democratic Allieshttps://www.cpapracticeadvisor.com/2026/07/08/instead-of-uniting-the-left-californias-billionaire-tax-measure-has-split-democratic-allies/186379/NYC lawyers slam pied-a-terre tax as a half-baked money grabhttps://www.audacy.com/1010wins/news/local/nyc-lawyers-slam-pied-a-terre-tax-as-a-half-baked-money-grabA 1948 IBM computer with no memory at all, fed by punchcards, was still doing the accounting at a Texas filtration company as recently as 2020https://scienceblog.com/t-1948-ibm-402-punchcards-sparkler-filters-accounting-2020/Time saved by AI partially canceled out by time spent checking AIhttps://www.accountingtoday.com/news/time-saved-by-ai-partially-cancelled-out-by-time-spent-checking-aiResearch Suggests Jobs May be Safer at Companies that Embrace AIhttps://www.cpapracticeadvisor.com/2026/07/07/research-suggests-jobs-may-be-safer-at-companies-that-embrace-ai/186281/AI Is No Longer Just a Tech Occupation Story: It's Spreading Across Job Titles in the US and Europehttps://www.hiringlab.org/2026/07/08/ai-is-no-longer-just-a-tech-occupation-story/The 2026 Best Accounting Firms for Technologyhttps://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technologyNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comMeet Our Guest, Sam Leon, CPALinkedIn: https://www.linkedin.com/in/samuelaaronleon/ Website: https://www.millennialcpa.tax/Website: https://www.taxweave.ai/Get 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 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/OvercastClassifieds REFRAME 2026 - http://accountingpodcast.promo/reframe2026Flowglad - https://cal.com/team/flowglad/flowgladWant 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 classi...