The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 320 Season 1

China Tells State Firms To Drop Big Four Auditors

00:00
IRS stuck on 1970's technology; Twitter poll says change back to 120 hours; Photos prove accounting thought leaders met; Intuit's 2023 Q2 Results

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  • (00:00) - China Tells State Firms to Drop Big Four
  • (00:25) - Preview: "The IRS is broken"
  • (01:09) - Blake and David recap the CPA Educators Conference
  • (08:27) - Some quick listener feedback and Blake interviewed a guest earlier in the week
  • (10:44) - China is telling firms to drop their Big 4 auditors
  • (14:30) - Some updates from Intuit's latest earnings report
  • (19:27) - Blake gives live Chat GPT demo on email responses
  • (24:19) - Vanderbilt University is getting criticized for using Chat GPT to write sympathy email to Michigan State
  • (25:42) - The IRS is using 60 year old technology and won't upgrade it
  • (30:42) - Open Secrets article on Intuit's lobbying money
  • (34:29) - Blake checks in on some live viewer chat
  • (36:15) - The Big 4 and their purpose statements
  • (39:11) - Interview with Jimmy Corley and the 150 hour rule
  • (55:18) - Blake shares a poll from Twitter on 150 hour requirement
  • (57:01) - Criticism on CPA Practice Advisors photo op and article on future of profession
  • (59:22) - Join us next week and where to reach Blake and David

Show Notes
Opinion | Badly outdated technology plagues the IRS - The Washington Post
https://www.washingtonpost.com/opinions/2023/02/22/outdated-technology-irs/
 
China urges state firms to drop Big Four auditors on data risk | Accounting Today
https://www.accountingtoday.com/articles/china-urges-state-firms-to-drop-big-four-auditors-on-data-risk
 
Twitter Poll: Should 150 college credits be required or 120 to be a CPA?
https://twitter.com/mikesyl36625988/status/1626946277127729155?s=12&t=ETTs0WOvobuoMmjCN8GztQ

What You Should Know About Changing the 150 Hour Rule Before You Debate For or Against It
https://www.goingconcern.com/150-hour-rule-changes-issues/
 
Accounting Thought Leaders Discuss Future of the Profession, Advisory Services, and Tax
https://www.cpapracticeadvisor.com/2023/02/21/accounting-thought-leaders-discuss-future-of-advisory-and-tax/76941/
 
Opinion | The IRS should not be running on 60-year-old technology
https://www.washingtonpost.com/opinions/2023/02/22/outdated-technology-irs/
 
Intuit's (INTU) Q2 Earnings and Revenues Beat Estimates
https://www.zacks.com/stock/news/2058809/intuit-s-intu-q2-earnings-and-revenues-beat-estimates?cid=CS-ZC-FT-analyst_blog|earnings_article-2058809
 
China to shift away from Big Four accounting firms           
https://asiatimes.com/2023/02/china-to-shift-away-from-big-four-accounting-firms/
 
Intuit Inc. (INTU) Q2 2023 Earnings Call Transcript              
https://seekingalpha.com/article/4581444-intuit-inc-intu-q2-2023-earnings-call-transcript
 
Intuit Reports Strong Second Quarter Results and Reiterates Full Year Guidance
http://www.businesswire.com/news/home/20230223005037/en/Intuit-Reports-Strong-Second-Quarter-Results-and-Reiterates-Full-Year-Guidance
 
How CPA Firms Are Engaging the Next Tax and Accounting Pros  
https://news.bloombergtax.com/tax-insights-and-commentary/how-cpa-firms-are-engaging-the-next-tax-and-accounting-pros
 
TurboTax parent company Intuit is pouring more money than ever into lobbying amid push for free government-run tax filing               
https://www.opensecrets.org/news/2023/02/turbotax-parent-company-intuit-is-pouring-more-money-than-ever-into-lobbying-amid-push-for-free-government-run-tax-filing/

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Creators & Guests

Host
Blake Oliver
Founder and CEO of Earmark CPE
Host
David Leary
President and Founder, Sombrero Apps Company

What is The Accounting Podcast?

The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.