Blake and David dive into the concerning trend of small CPA firms conducting shoddy audits of large companies and SPACs, raking in big fees while facing minimal consequences for deficient work. They also discuss the latest accounting app funding news, the power of AI for crafting persuasive arguments, and the American Institute of CPAs' puzzling resistance to changes in CPA licensure requirements and touch on the growing importance of client accounting services for public accounting firms.

Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Uncat - http://accountingpodcast.promo/uncat
Earmark - https://earmark.app

Chapters

(00:38) - Blake is back from a conference in Atlanta
(03:12) - The truth behind Trump's Truth Social SPAC audit
(18:41) - AI startup Fieldguide secures $30 million in Series B funding
(21:57) - FundGuard secures $100 million in Series C funding round
(23:42) - BotKeeper launches BotKeeper Infinite
(29:29) - Scientists find that AI is more persuasive than humans at changing people's opinions
(37:41) - Formula 1 team using Excel to track car parts
(39:34) - CAS is the fastest-growing service in Accounting Today's annual survey
(41:34) - The AICPA warns about losing the 150-hour rule
(48:46) - Send us an email and remember you can earn FREE CPE for listening to this podcast!

Show Notes

Fieldguide Raises $30 Million to Combat CPA Shortage With AI

https://www.pymnts.com/news/investment-tracker/2024/fieldguide-raises-30-million-to-combat-cpa-shortage-with-ai/

AI accounting startup raises $100M

https://www.accountingtoday.com/articles/ai-accounting-startup-fundguard-raises-100m-in-new-funds

On the Conversational Persuasiveness of Large Language Models: A Randomized Controlled Trial (PDF)

https://arxiv.org/pdf/2403.14380.pdf?utm_source=www.therundown.ai&utm_medium=newsletter&utm_campaign=nvidia-s-new-ai-chip-competitor

The year CAS took over

https://www.accountingtoday.com/opinion/the-year-cas-took-over-accounting

Need CPE?

Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

Get in Touch

Thanks 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.

Sponsorships

Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info?

Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities

TeePublic Store: http://cloudacctpod.link/merch

Subscribe

Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
YouTube: https://www.youtube.com/@TheAccountingPodcast
Spotify: http://cloudacctpod.link/Spotify
Podchaser: http://cloudacctpod.link/podchaser
Stitcher: http://cloudacctpod.link/Stitcher
Overcast: http://cloudacctpod.link/Overcast

Classifieds
Royalwise - https://royalwise.com/partner
Forwardly - https://www.forwardly.com/

Classifieds

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/RunClassifiedAd

Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Get Rich Doing Bad Audits

The Accounting Podcast

Get Rich Doing Bad Audits