The Accounting Podcast

The Accounting Podcast Trailer Bonus Episode 318 Season 1

AICPA's 8-Point Plan To Fix The Accounting Pipeline Problem

00:00
We dissect the AICPA's plan; Short seller Hindenburg Research reports that Adani Group had 23 and 24 year-old auditors sign off on financials. WSJ asks: "How can we make accounting cool?"; Biden vows to veto GOP plan to abolish the IRS; CPA exam takers down 25% since 2018; IRS too busy to replace old computers, suspends project

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  • (00:00) - Thank you to our sponsor, OnPay
  • (00:19) - Preview:
  • (01:01) - Introduction and some of what we'll cover this episode
  • (03:13) - NPR Marketplace interview with Adrienne Gonzalez and the struggle to find accountants
  • (10:30) - AICPA's town hall
  • (16:43) - Thank you to our sponsor, OnPay
  • (18:01) - Checking in on our live chat
  • (21:12) - Matt asks for ideas on how he should obtain his 150 hours
  • (27:47) - Thank you to our sponsor, Relay
  • (29:55) - Accounting Today article on CPA exam pass rates falling in 2022
  • (35:59) - GAO says IRS gave up on computer systems upgrade
  • (39:49) - Thank you to our sponsor, First Republic Bank
  • (40:35) - Republican bill to abolish the IRS
  • (43:15) - Lets talk about Adani Group's auditors
  • (46:20) - Tether releases latest attestation report
  • (48:51) - Nikole's voicemail and the Accounting High bracket
  • (51:32) - Company holds "funeral" for QuickBooks
  • (53:35) - Blake reads some listeners comments and feeback
  • (58:05) - Wrap up and the CAP is going ti Expensicon!
  • (59:46) - Classifieds
  • (59:48) - Client Hub
  • (01:00:24) - RightTool
  • (01:00:46) - Federal Tax Updates Podcast
  • (01:01:59) - How to advertise in these classifieds

Show Notes
How Can We Make Accounting Cool? - WSJ          
https://www.wsj.com/articles/how-can-we-make-accounting-cool-11675973909
 
If You Let 23-Year-Olds Sign Off on Audits, You're Gonna Have a Bad Time
https://www.goingconcern.com/adani-group-auditors/
 
Why there's a national shortage of accountants 
https://www.marketplace.org/2023/02/07/as-tax-season-approaches-accounting-firms-are-short-on-staff/
 
Biden Vows to Veto GOP Plan to Abolish the IRS 
https://www.cpapracticeadvisor.com/2023/02/02/biden-vows-to-veto-gop-plan-to-abolish-the-irs/76458/
 
Controller - National Women's Soccer League (New York · NY)     
https://www.teamworkonline.com/soccer-jobs/nwslsoccer/nwsl-league-office/controller-2034269
 
What’s New in FreshBooks – 2023             
https://www.freshbooks.com/blog/product-updates-2023
 
Self-employed bookkeeping platform Hnry books $35 million Series B
https://www.startupdaily.net/topic/funding/self-employed-bookkeeping-platform-hnry-books-35-million-series-b/
 
McDonalds Presidents Says California FAST Act Will Kill Restaurants
https://smallbiztrends.com/2023/01/mcdonalds-presidents-says-california-fast-act-will-hurt-small-business.html
 
New York Requires Disclosure in Small Businesses Financing
https://www.pymnts.com/news/regulation/2023/new-york-requires-disclosure-in-small-businesses-financing/
 
Almost 70K ‘questionable’ Social Security numbers used for $5.4B in pandemic-related loans: watchdog  
https://thehill.com/policy/finance/3837329-almost-70k-questionable-social-security-numbers-used-for-5-4b-in-pandemic-related-loans-watchdog/
 
The 15 largest banks in the US    
https://finance.yahoo.com/news/15-largest-banks-us-160040404.html
 
Football, lifeguarding, college and accounting      
https://hoganstand.com/article/index/326378
 
Password Managers – An Insightful Accountant Software Comparison
https://www.intuitiveaccountant.com/accounting-tech/vendor-news/password-managers-an-insightful-accountant-software-comparis/
 
IRS more likely to audit Black taxpayers 
https://www.accountingtoday.com/news/irs-more-likely-to-audit-black-taxpayers
 
Press Release- February 1, 2023: Superintendent Adrienne A. Harris Adopts Updated Regulation For Disclosure Requirements For Commercial Financing
https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202302011
 
Crypto’s One-Time Favorite Bank Faces Federal Probe Into FTX Relationship
https://www.pymnts.com/cryptocurrency/2023/cryptos-one-time-favorite-bank-faces-federal-probe-into-ftx-relationship/
 
US Bank launches automated direct deposit switching
https://bankautomationnews.com/allposts/payments/us-bank-launches-automated-direct-deposit-switching/
 
Chase to Expand Small Business Banking Workforce by 20%          
https://www.pymnts.com/digital-first-banking/2023/chase-to-expand-small-business-banking-workforce-by-20-pct/
 
How Can We Make Accounting Cool? - WSJ          
https://www.wsj.com/articles/how-can-we-make-accounting-cool-11675973909
 
Passing or failing? Pass rates for CPA exam fell in 2022
https://www.accountingtoday.com/news/passing-or-failing-pass-rates-for-cpa-exam-fell-in-2022
 
How inclusive is your accounting firm?   
https://www.accountingtoday.com/opinion/how-inclusive-is-your-firm
 
AICPA proposes extensive tax changes to Congress
https://www.accountingtoday.com/news/aicpa-proposes-extensive-tax-changes-to-congress
 
Tether Releases Attestation Report Showing $960M Excess Reserves
https://www.pymnts.com/cryptocurrency/2023/tether-releases-attestation-report-showing-960m-excess-reserves/
 
The Quickbooks And The Dead
https://www.realclearmarkets.com/2023/02/09/the_quickbooks_and_the_dead_880636.html
 
Tax Policy in Biden’s 2023 State of the Union Address      
https://taxfoundation.org/biden-state-of-the-union-tax-proposals/
 
Watch for accidental fraud, forensic accounting expert says          
https://www.cfodive.com/news/watch-accidental-fraud-author-says/642358/
 
Accounting Services: The Talent War       
https://www.lanereport.com/162724/2023/02/accounting-services-the-talent-war/
 
Most accounting professionals want more mental health help: study
https://www.cfodive.com/news/most-accounting-professionals-want-more-mental-health-help-study/642315/
 
Finzly Launches API Giving Developers Access to FedNow Service
https://www.pymnts.com/news/faster-payments/2023/finzly-launches-api-giving-developers-access-to-fednow-service/
 
Growblocks Raises $6M to Help Businesses Forecast Revenues
https://www.pymnts.com/news/investment-tracker/2023/growblocks-raises-6m-to-help-businesses-forecast-revenues/
 
Gusto lays off 5% of staff              
https://www.accountingtoday.com/news/gusto-lays-off-5-of-staff
 
Students learn all about accounting at High School Leaders Conference at UM-Dearborn
https://www.pressandguide.com/2023/02/08/students-learn-all-about-accounting-at-high-school-leaders-conference-at-um-dearborn
 
Don’t Let Clients Dictate Tax Workflow   
https://cpatrendlines.com/2023/02/07/dont-let-clients-dictate-tax-workflow/
 
Center Your Firm Around Your Client       
https://cpatrendlines.com/2023/02/03/center-your-firm-around-your-client/
 
How Marketing in Accounting Has Evolved           
https://cpatrendlines.com/2023/02/03/how-marketing-in-accounting-has-evolved/
 
Jobber fixes on $100M as its platform for home services pros hits ...
https://techcrunch.com/2023/02/07/jobber-fixes-on-100m-as-its-platform-for-home-services-pros-hits-200k-users/
 
Are SMBs invited to the business intelligence (BI) party? 
https://www.cio.com/article/453900/are-smbs-invited-to-the-business-intelligence-bi-party.html
 
H&R Block went through 6 CEOs in a decade. Its latest chief exec is a marketing whiz with plans to claw back market share: ‘We were kind of that dusty place on the corner’
https://fortune.com/2023/02/03/hr-block-ceo-taxes-growth-gig-workers-freelance-small-business/
 
IRS tells taxpayers in some states to wait to file taxes       
https://www.accountingtoday.com/news/irs-tells-taxpayers-in-states-like-california-to-wait-to-file-taxes
 
There’s a surprising culprit behind mass layoffs, says a prominent management professor at Wharton
https://fortune.com/2023/02/08/surprising-culprit-behind-mass-layoffs-says-management-professor-wharton/
 
Americanas' $4B Accounting Scandal Puts More Scrutiny on PwC's ...
https://www.insurancejournal.com/news/international/2023/02/08/706637.htm
 
AICPA publishes audit risk guide 
https://www.accountingtoday.com/news/aicpa-publishes-audit-risk-guide
 
CoinTracker unveils real-time crypto tax advice from live experts
https://www.accountingtoday.com/news/cointracker-unveils-real-time-crypto-tax-advice-from-live-experts
 
IRS dropped plans to modernize some of its outdated systems
https://www.accountingtoday.com/news/irs-dropped-plans-to-modernize-some-of-its-outdated-systems
 
Accounting students provide volunteer income tax filing services to ...
https://www.psu.edu/news/scranton/story/accounting-students-provide-volunteer-income-tax-filing-services-community/
 
Intuit study reveals Gen Z doesn't want to talk about finances
https://www.atmmarketplace.com/news/intuit-study-reveals-gen-z-doesnt-want-to-talk-about-finances/
 
The past and future of accounting             
https://www.accountingtoday.com/podcast/the-past-and-future-of-accounting
 
Senators demand an accounting of how ServSafe fees are used  
https://restaurantbusinessonline.com/operations/senators-demand-accounting-how-servsafe-fees-are-used
 
Talent acquisition: AICPA chair hears student voices, shares strategies
https://www.journalofaccountancy.com/news/2023/feb/talent-acquisition-aicpa-chair-hears-student-voices-shares-strategies.html
 
Inkle Raises $1.5M to Power Tax & Accounting for US Cross-border ...
https://financialit.net/news/fundraising-news/inkle-raises-15m-power-tax-accounting-us-cross-border-companies
 
Does ChatGPT have any of the answers for accounting?
https://www.accountantsdaily.com.au/technology/18115-does-chatgpt-have-any-of-the-answers-for-accounting
 
OakNorth set to close Fluidly following 2021 acquisition 
https://www.altfi.com/article/10379_oaknorth-set-to-close-fluidly-following-2021-acquisition
 
Lawyers wanted at the IRS           
https://www.accountingtoday.com/news/lawyers-wanted-at-the-irs
 
Fluidly to close its doors in April 
https://www.accountingweb.co.uk/tech/accounting-software/fluidly-to-close-its-doors-in-april
 
Simu Liu praised for giving advice on accounting, burnout and ... 
https://www.independent.co.uk/life-style/simu-liu-twitter-advice-b2275858.html
 
 
Eller College scholarship aims to promote diversity in accounting
https://azbigmedia.com/business/eller-college-scholarship-aims-to-promote-diversity-in-accounting/
 
iwocaPay Becomes the First Invoice Checkout Integration with Buy Now, Pay Later Option for Businesses that Integrate with QuickBooks           
https://financialit.net/news/e-invoicing/iwocapay-becomes-first-invoice-checkout-integration-buy-now-pay-later-option
 
Tax And Accounting SaaS Startup Inkle Raises $1.5 Million              
https://www.msn.com/en-us/money/smallbusiness/tax-and-accounting-saas-startup-inkle-raises-dollar15-million/ar-AA179Y50
 
AICPA Town Hall: AICPA’s 8-point human capital pipeline plan      
https://townhall.libsyn.com/ath/aicpas-8-point-human-capital-pipeline-plan
 
US Bank launches automated payroll deposit feature for new accounts
https://www.fintechfutures.com/2023/02/us-bank-launches-automated-payroll-deposit-feature-for-new-accounts/
 

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Creators & Guests

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

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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.