Blake and David mull over the Arizona CPA Society's survey revealing that 80% of Arizona CPAs support 150-hour-rule alternatives. They also examine the UK Post Office scandal that led to hundreds of criminal convictions of postmasters, as well as Deloitte's recent massive audit failures, and the impacts of the talent shortage illustrated by delayed government audits in Wyoming. Wrapping things up, some reflections on the need for major reforms in auditing and regulation of the accounting profession. All this and more, right here, right now!

Sponsors
Zoho - http://accountingpodcast.promo/zoho
Relay - http://accountingpodcast.promo/relay
Client Hub - http://accountingpodcast.promo/clienthub

Chapters

(00:29) - Blake goes over the Arizona Society of CPA's survey results
(06:06) - Do 150-hour employees do better work?
(09:35) - Are firms facing an accounting shortage?
(14:42) - Did you know Nikki Haley was an accountant?
(16:28) - Deloitte audit failure in Nigeria
(29:35) - Certified Pastry Aficionado
(31:37) - Tsunami miracle baby, now 19, pursuing an accounting degree
(34:30) - Fujitsu, Horizon, and the disgusting postal worker prosecution failure by the UK government
(48:41) - Blake checks in on the live chat
(53:19) - Going Concern: Wyoming firm faces staffing shortage in critical government audits
(56:49) - Download Earmark. Earn free CPE for listening

Show Notes

Arizona CPA Society releases 150-hour survey results

https://www.ascpa.com/news/ddf50a1e-70cc-4d5b-9e00-cc9c5f82c17e:az-cpa-januaryfebruary-2024

How Deloitte missed a massive Nigerian company fraud

https://www.forbes.com/sites/brandonkochkodin/2024/01/10/how-auditor-deloitte-missed-a-nigerian-companys-massive-fraud/?sh=49b6cce059f4

Tsunami miracle baby now majoring in accounting

https://www.nst.com.my/news/nation/2023/12/994163/tsunami-miracle-baby-now-19-pursues-accounting-degree-nsttv

Only two firms in Wyoming can do government audits, and one can’t do its job

https://www.goingconcern.com/there-are-only-two-firms-in-wyoming-that-can-do-government-audits-and-one-cant-do-its-job-because-of-staff-shortages/

There Are Only Two Firms in Wyoming That Can Do Government Audits and One Can’t Do Its Job Because of Staff Shortages

https://www.goingconcern.com/there-are-only-two-firms-in-wyoming-that-can-do-government-audits-and-one-cant-do-its-job-because-of-staff-shortages/

Revealed: The Fujitsu fat cats who pocketed huge salaries while its flawed Horizon accounting system ruined...

https://www.dailymail.co.uk/news/article-12948671/The-Fujitsu-fat-cats-pocketed-huge-salaries-flawed-Horizon-accounting-ruined-lives-thousands-postmasters-wrongly-accused-stealing-Post-Office-emerges-charge-government-contracts.html

What should accounting technology providers learn from the Post Office Horizon scandal?

https://www.accountancyage.com/2024/01/09/what-should-accounting-technology-providers-learn-from-the-post-office-horizon-scandal/

Plans to legislate for resolution of Post Office accounting scandal

https://www.accountancydaily.co/plans-legislate-resolution-post-office-accounting-scandal

Post Office under criminal investigation for potential fraud over Horizon scandal

https://www.theguardian.com/uk-news/2024/jan/05/post-office-criminal-investigation-potential-horizon-accounting-fraud

Some 86 people have seen their convictions for false accounting and theft overturned

https://curated.tncontentexchange.com/partners/afp/the-firm-created-faulty-accounting-software-that-saw-subpostmasters-wrongly-convicted-of-theft/image_383af729-fda2-517c-b5ff-85afffefb214.html

UK police launch fraud inquiry over post office IT scandal

https://www.themountaineer.com/news/national/uk-police-launch-fraud-inquiry-over-post-office-it-scandal/article_72e76f8b-7e6f-55ad-9605-93183aefb01e.html

How the Post Office’s Horizon system failed: a technical breakdown

https://www.theguardian.com/uk-news/2024/jan/09/how-the-post-offices-horizon-system-failed-a-technical-breakdown

Bad software sent postal workers to jail, because no one wanted to admit it could be wrong

https://www.theverge.com/2021/4/23/22399721/uk-post-office-software-bug-criminal-convictions-overturned

Post Office warned of software flaw in 2006, but failed to alert subpostmaster network

https://www.computerweekly.com/news/252514110/Post-Office-warned-of-software-flaw-in-2006-but-failed-to-alert-subpostmaster-network

Post Office spunks fresh £36m on Fujitsu after cloud fail

https://www.thestack.technology/post-office-fujitsu-extension/

When did the Post Office scandal start? Timeline of key events

https://www.thetimes.co.uk/article/when-post-office-scandal-start-happen-timeline-of-key-events-2q23bhm2c

Briefing presumption that comp...

Survey Says 80% of CPAs Support Alternatives to 150 Hours

The Accounting Podcast

Survey Says 80% of CPAs Support Alternatives to 150 Hours