Feb 15 2023
AICPA's 8-Point Plan To Fix The Accounting Pipeline Problem
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 projectSponsorsOnPay - https://cloudaccountingpodcast.promo/onpayRelay - https://cloudaccountingpodcast.promo/relayFirst Republic Bank - https://cloudaccountingpodcast.promo/firstrepublicNeed CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.comGet CPE for listening to podcasts with Earmark CPE: https://earmarkcpe(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 classifiedsShow NotesHow 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 Timehttps://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 Bhttps://www.startupdaily.net/topic/funding/self-employed-bookkeeping-platform-hnry-books-35-million-series-b/ McDonalds Presidents Says California FAST Act Will Kill Restaurantshttps://smallbiztrends.com/2023/01/mcdonalds-presidents-says-california-fast-act-will-hurt-small-business.html New York Requires Disclosure in Small Businesses Financinghttps://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 Comparisonhttps://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 Financinghttps://www.dfs.ny.gov/reports_and_publications/press_releases/pr202302011 Crypto’s One-Time Favorite Bank Faces Federal Probe Into FTX Relationshiphttps://www.pymnts.com/cryptocurrency/2023/cryptos-one-time-favorite-bank-faces-federal-probe-into-ftx-relationship/ US Bank launches automated direct deposit switchinghttps://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 2022https://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 Congresshttps://www.accountingtoday.com/news/aicpa-proposes-extensive-tax-changes-to-congress Tether Releases Attestation Report Showing $960M Excess Reserveshttps://www.pymnts.com/cryptocurrency/2023/tether-releases-attestation-report-showing-960m-excess-reserves/ The Quickbooks And The Deadhttps://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: studyhttps://www.cfodive.com/news/most-accounting-professionals-want-more-mental-health-help-study/642315/ Finzly Launches API Giving Developers Access to FedNow Servicehttps://www.pymnts.com/news/faster-payments/2023/finzly-launches-api-giving-developers-access-to-fednow-service/ Growblocks Raises $6M to Help Businesses Forecast Revenueshttps://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-Dearbornhttps://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 Whartonhttps://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 expertshttps://www.accountingtoday.com/news/cointracker-unveils-real-time-crypto-tax-advice-from-live-experts IRS dropped plans to modernize some of its outdated systemshttps://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 financeshttps://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 strategieshttps://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 accountinghttps://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 accountshttps://www.fintechfutures.com/2023/02/us-bank-launches-automated-payroll-deposit-feature-for-new-accounts/ Get in TouchThanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus, and NOW, you can see our smiling faces on Instagram! You can now call us and leave a voicemail, maybe we'll play it on the show. DIAL (202) 695-1040Need 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/ApplePodcasts
Podchaser: http://cloudacctpod.link/podchaser
Spotify: http://cloudacctpod.link/Spotify
Stitcher: http://cloudacctpod.link/Stitcher
Overcast: http://cloudacctpod.link/Overcast
YouTube: https://www.youtube.com/c/CloudAccountingPodcast
ClassifiedsClient Hub - https://clienthub.app/RightTool for QuickBooks Online - https://righttool.appFederal Tax Updates podcast - https://federaltaxupdates.com/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? Why not let the listeners of The Cloud Accounting Podcast know by running a classified ad? Hit the link below to get more info.Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd Full Transcript Available Upon Request: info@cloudaccountingpodcast.com