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The Accounting Podcast

The Accounting Podcast

By: Blake Oliver & David Leary
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Summary

 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.© 2023 Earmark Media LLC Politics & Government
Episodes
  • SEC Prepares for Semi-Annual Reporting & the True Cost of the Iran War

    SEC Prepares for Semi-Annual Reporting & the True Cost of the Iran War
    May 18 2026
    Could public companies stop reporting every quarter? Blake and David break down the SEC’s push toward optional semiannual reporting, OpenAI’s new consulting arm, and what both moves could mean for accountants. They also cover tariff refund accounting, audit lawsuits, AI outperforming doctors in diagnosis tests, and why accountants may be better positioned than ever to build software and solve higher-value problems.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casOnPay - http://accountingpodcast.promo/onpay C&R Consulting - http://accountingpodcast.promo/cnrFishbowl - http://accountingpodcast.promo/fishbowlChapters(00:00) - TAP 487(02:52) - Semiannual reporting shift(06:46) - OpenAI enters consulting(09:59) - True cost of Iran war(15:40) - Xero founder scandal(18:42) - Tariffs and refund accounting(24:51) - WNBA millionaire tax myth(28:18) - NYC pied a terre tax(31:42) - Education loans and accounting(34:58) - Chat Prompts Cyber Accounting(36:15) - PwC Audit Scandal Lawsuit(38:17) - BDO First Brands Fallout(40:50) - PCAOB QC Rule Debate(44:34) - RSM Layoffs Audit Demand(46:54) - AI Beats ER Doctors(49:18) - Chegg Disrupted By AI(51:13) - Rethinking Education Model(53:17) - Accountants As Vibe Coders(56:55) - Build Accounting In Excel(01:01:44) - Wrap Up CPE And Travel Show NotesSEC, FASB Prepare for Semi-Annual Reporting Optionhttps://www.accountingtoday.com/news/sec-fasb-prepare-for-semi-annual-reporting-optionOpenAI Launches the OpenAI Deployment Company to Help Businesses Build Around Intelligencehttps://openai.com/index/openai-launches-the-deployment-company/Opinion | The Iran War Will Cost Trillionshttps://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.htmlGlobal Economic Conditions Survey: Q1 2026https://www.accaglobal.com/us/en/professional-insights/global-economics/gecs-q1-2026.htmlXero Founder Sir Rod Drury Returns New Zealander of the Year Award Amid Misconduct Claimshttps://www.rnz.co.nz/news/business/594669/xero-founder-sir-rod-drury-returns-new-zealander-of-the-year-award-amid-misconduct-claimsRefunds on Trump Tariffs Pose Accounting Dilemmas for Companieshttps://news.bloombergtax.com/financial-accounting/refunds-on-trump-tariffs-pose-accounting-dilemmas-for-companiesWNBA Star Kelsey Plum Shows Embarrassing Lack of Tax Knowledgehttps://thespun.com/wnba/wnba-star-kelsey-plum-shows-embarrassing-lack-of-tax-knowledgeColumn: WNBA Star Kelsey Plum Is Taking Heat for Getting California Tax Law Wrong. But Don't Blame Herhttps://www.cpapracticeadvisor.com/2026/05/06/column-wnba-star-kelsey-plum-is-taking-heat-for-getting-california-tax-law-wrong-but-dont-blame-her/182897/New York's Pied-a-Terre Tax Sets Up Legal Fight Over Valueshttps://www.cnbc.com/2026/04/24/new-york-pied-a-terre-tax.htmlEducation Dept. Rejects Accounting as Professional Degreehttps://www.accountingtoday.com/news/education-dept-rejects-accounting-as-professional-degreeCorporate Travel's Accounting Shock: What It Means for PwC and the Wider Industryhttps://www.corporatekeysaustralia.com.au/accommodation/news/corporate-travels-accounting-shock-what-it-means-for-pwc-and-the-wider-industryFirst Brands Creditor Sues Auditor BDO Over Missed Red Flagshttps://news.bloombergtax.com/financial-accounting/first-brands-creditor-sues-auditor-bdo-over-missed-red-flagsLayoff Watch '26: RSM Trims Down in Audithttps://www.goingconcern.com/layoff-watch-26-rsm-trims-down-in-audit/AI Is Starting to Beat Doctors at Making Correct Diagnoseshttps://www.science.org/content/article/ai-starting-beat-doctors-making-correct-diagnosesChegg Was Dying Way Before ChatGPT – Chatbots Just Dealt the Fatal Blowhttps://www.barchart.com/story/news/1744436/chegg-was-dying-way-before-chatgpt-chatbots-just-dealt-the-fatal-blowAnthropic's Boris Cherny: Why Coding Is Solved, and What Comes Nexthttps://www.youtube.com/watch?v=SlGRN8jh2RINeed 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 -
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    1 hr and 6 mins
  • An AI-Powered Firm of One, KPMG Shuts Down Fed Audits

    An AI-Powered Firm of One, KPMG Shuts Down Fed Audits
    May 7 2026
    SponsorsOnPay - http://accountingpodcast.promo/onpayR.E. Cost Seg - http://accountingpodcast.promo/recostsegC&R Consulting - http://accountingpodcast.promo/cnrFishbowl - http://accountingpodcast.promo/fishbowlChapters(00:00) - TAP 486(02:25) - Firm of One AI Tax(04:39) - Automating Firm Ops(09:35) - Claude Connectors Tested(17:45) - Sage Buys Doyen AI(19:48) - AI Efficiency Paradox(22:06) - Vibe Coding for CAS(26:06) - KPMG Federal Audit Exit(29:02) - Tariff Refund Lawsuits(31:15) - Tariffs and Job Losses(33:01) - IRS Lawsuit Snag(33:28) - Hearing Conflict Question(33:49) - Nonprofit Form 990 Shakeup(37:30) - Autofill Tax Return Bill(38:54) - IRS Whistleblower Boost(40:38) - Fed Nominee And Rates(42:39) - Jobs Data Doesn’t Add Up(44:28) - Intuit Hiring And Benefits(47:26) - Canopy AI Coworker Agents(52:34) - AI Meeting Notes To Tasks(54:58) - Procrastination Pays In AI(58:42) - Wrap Up CPE And Events Show NotesThe 2026 Best Accounting Firms for Technologyhttps://www.accountingtoday.com/list/the-2026-best-accounting-firms-for-technologyAI Can Boost Productivity, but Who Sustains the Customer Economy?https://www.accountingtoday.com/opinion/ai-can-boost-productivity-but-who-sustains-the-customer-economySage Acquires Doyen AI to Help SMBs Migrate and Go Live Faster with AIhttps://www.sage.com/en-us/news/press-releases/2026/04/sage-acquires-doyen-ai-to-help-smbs-migrate-and-go-live-faster-with-ai/KPMG Closes U.S. Federal Audit Practice, Trims Advisory Staffhttps://www.accountingtoday.com/news/kpmg-closes-u-s-federal-audit-practice-trims-advisory-staffGamers Sue Nintendo Over Tariff Refundshttps://www.gamefile.news/p/gamers-sue-nintendo-over-tariff-refundsNo, Tariffs Are Not Strengthening the Economyhttps://fortune.com/2026/04/29/tariffs-not-strengthening-economy-trump-trade-war-data/Trump's $10 Billion IRS Suit Hits Snag with Skeptical Judgehttps://www.cpapracticeadvisor.com/2026/04/27/trumps-10-billion-irs-suit-hits-snag-with-skeptical-judge/182256/IRS to Revamp Form 990 to Require More Info from Charitieshttps://www.accountingtoday.com/news/irs-to-revamp-form-990-to-require-more-info-from-charitiesCongressman Introduces Bill to Autofill Tax Formshttps://www.accountingtoday.com/news/congressman-introduces-bill-to-autofill-tax-formsHouse Passes IRS Whistleblower Program Improvement Acthttps://www.accountingtoday.com/news/house-passes-irs-whistleblower-improvement-actAccountant Job Outlook & Demand Report 2026https://www.intuit.com/blog/innovative-thinking/accountant-job-outlook-demand-report/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 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
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    1 hr and 4 mins
  • KPMG Lays Off 10% Audit Partners, Best AI Still Fails 1/5 Accounting Tasks

    KPMG Lays Off 10% Audit Partners, Best AI Still Fails 1/5 Accounting Tasks
    May 2 2026
    What does it mean when Big Four partners can be demoted—and AI still gets 1 in 5 accounting tasks wrong? Blake and David unpack KPMG’s audit partner cuts, EY and KPMG’s quiet partner demotions in the UK, PwC’s return-to-office push, and why firms like Decimal are rethinking tech-driven bookkeeping. They also debate AI’s limits in accounting, explore the future of CPE after a surprising Nasba warning, and explain what these shifts mean for accountants building their careers.SponsorsCloud Accountant Staffing - http://accountingpodcast.promo/casOnPay - http://accountingpodcast.promo/onpayFishbowl - http://accountingpodcast.promo/fishbowlChapters(00:00) - TAP 485(01:47) - Bookkeeping Market Shakeup(02:38) - Decimal Pivots to Franchising(05:31) - AI Accuracy Reality Check(07:57) - Inventory Counts Still Human(10:28) - H&R Block Goes Year Round(11:55) - AI CEO Experiments and Limits(16:34) - Earmark Sponsor and NASBA Letter(21:37) - Context and CPE Reform Debate(26:11) - CPE Checkbox Culture(28:11) - Fixing CPE With AI(32:07) - Live Chat and Teams CPE(34:37) - Sponsor OnPay Break(35:51) - Big Four Partner Cuts(41:27) - AI Predicts Misstatements(43:31) - Sponsor Fishbowl Break(44:55) - Where Accountants Are Missing(48:39) - 150 Hour Rule Changes(49:19) - Wrap Up and Thanks Show NotesThe Best AI Model Still Fails 1 in 5 Accounting Taskshttps://www.cfo.com/news/the-best-ai-model-still-fails-1-in-5-accounting-tasks-Claude-Opus-OpenAI-GPT/818100/DualEntry AI Accounting Benchmark (Claude Opus 4.7 Results)https://www.dualentry.com/blog/claude-opus-4-7-accounting-ai-benchmark-resultsThe Least Glamorous Side of Accounting That Still Can't Be Automatedhttps://controllerscouncil.org/the-least-glamorous-side-of-accounting-that-still-cant-be-automated/Decimal Sells Its Accounting Firm to Franchise the Operating System Behind Ithttps://www.prnewswire.com/news-releases/decimal-sells-its-accounting-firm-to-franchise-the-operating-system-behind-it-302753690.htmlCollective Acquires Open Ledger to Accelerate All-in-One Financial Solution for Solopreneurshttps://www.axios.com/pro/fintech-deals/2026/04/22/collective-open-ledger-acquisitionH&R Block Wants to Be More Than a Tax Companyhttps://fortune.com/article/hr-block-tax-year-round-financial-adviser-fintech-innovation/An AI Agent Takes Over a Store and Orders Too Many Candleshttps://www.bloomberg.com/news/articles/2026-04-23/an-ai-agent-takes-over-a-store-and-orders-too-many-candles-mobwrfw2Customers Bank CEO Uses AI Clone on Earnings Call, Signs OpenAI Dealhttps://www.cnbc.com/2026/04/27/openai-partners-with-customers-bank-in-push-to-automate-finance.htmlKPMG Lays Off 10% of US Audit Partnershttps://www.accountingtoday.com/news/kpmg-lays-off-10-of-us-audit-partnersKPMG and EY Demote Partners in End of Job-for-Life Model in UKhttps://www.irishtimes.com/business/work/2026/04/24/kpmg-and-ey-demote-partners-in-end-of-job-for-life-model-in-uk/PwC Tells Remote Tax Staff to Get Their Butts Into the Officehttps://www.goingconcern.com/pwc-tells-remote-tax-staff-to-get-their-butts-into-the-office/PwC Pays $166 Million to Settle HK Evergrande Audit Probehttps://www.bloomberg.com/news/articles/2026-04-23/pwc-agrees-to-pay-166-million-to-close-evergrande-probe-in-hkPredicting Material Misstatements Using Machine Learning (Phys.org summary)https://phys.org/news/2026-predicting-material-misstatements-machine-learning.htmlIs Your State Running Low on Accountants? (Sam's List Accountant Shortage Index)https://www.cpapracticeadvisor.com/2026/04/21/is-your-state-running-out-of-accountants/181991/Kentucky Passes CPA Licensure Modernization Billhttps://www.accountingtoday.com/news/kentucky-passes-cpa-pathway-billNeed 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:
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    52 mins
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