About this episode
Accounting Today said ChatGPT failed the CPA Exam — here's why that's misleading; a WSJ reporter clones herself with AI and tricks her bank and family; TurboTax tops the TV ads for tax year 2022; Audit firms remove partners who fault clients' internal controls; 80 percent of BDO Alliance partners vote to eliminate or modify the 150-hour rule Sponsors ShareFile - https://cloudaccountingpodcast.promo/sharefile CCH Axcess - https://cloudaccountingpodcast.promo/axcess SuiteFiles - https://cloudaccountingpodcast.promo/suitefiles Chapters (00:00) - ChatGPT Was Set Up To Fail The CPA Exam (00:30) - Does the accounting profession give your life meaning? (01:00) - Welcome to the show, David is on the road this week (04:49) - Accounting Today says ChatGPT completely failed CPA exam (07:48) - Blake ran some of his own tests with GPT-4 and takeaways people should get from this article (13:23) - WSJ article on the potential of AI and fraud (15:09) - Blake plays clips of Joanna's voice cloned compared to her actual voice (18:28) - TechCrunch article on Intuit's AI journey (23:35) - Accounting Today article on firms removing audit partners from engagements where they found internal control problems (28:41) - Accounting Today: PCAOB turns up the heat on auditing firms (32:20) - Three failed banks all had KPMG in common (38:26) - Which brands spent the most money on ads around tax day 2023? (41:30) - TurboTax starts sending out checks as part of "free free free" settlement (42:58) - Listener email about the 150 hour rule and underpaid CPAs (46:57) - BDO Alliance poll results on the 150 hour requirement (50:29) - Blake buys MedEvac insurance for the first time (53:09) - Some quick app news roundup (58:33) - Wrap up and where to reach us Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com Get CPE for listening to podcasts with Earmark CPE: https://earmarkcpe Show Notes KPMG pens deal with MindBridge to apply AI to digital audits | Accounting Today https://www.accountingtoday.com/news/kpmg-pens-deal-with-mindbridge-to-apply-ai-to-digital-audits We ran the CPA exam through ChatGPT and it failed miserably | Accounting Today https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably I Cloned Myself With AI. She Fooled My Bank and My Family. https://www.wsj.com/articles/i-cloned-myself-with-ai-she-fooled-my-bank-and-my-family-356bd1a3 Audit firms remove partners who fault clients' internal controls | Accounting Today https://www.accountingtoday.com/news/audit-firms-remove-partners-who-fault-clients-internal-controls BDO Alliance poll of managing partners on 150-hour rule https://twitter.com/BlakeTOliver/status/1654553693830914048 TurboTax customers to receive checks for $141M settlement https://apnews.com/article/turbotax-inuit-settlement-checks-mail-0c01cf25aa34693163886d135f7a6560 Accounting automation developer Gappify scores $10m https://fintech.global/2023/05/02/accounting-automation-developer-gappify-scores-10m/ Intuit’s shift https://techcrunch.com/2023/04/27/intuit-ai-shift/ Hundreds Of Tax Prep Services Hit The Airwaves Before April https://www.insideradio.com/free/hundreds-of-tax-prep-services-hit-the-airwaves-before-april-18/article_b59beb46-e5a2-11ed-a08f-d7b730e240b8.html We had ChatGPT take the CPA exam — and it failed https://www.accountingtoday.com/news/we-ran-the-cpa-exam-through-chatgpt-and-it-failed-miserably ChatGPT Just Failed This Accounting Exam https://www.digitalinformationworld.com/2023/04/chatgpt-just-failed-this-accounting-exam.html Accounting clerk created original art on billing statements to help a patient heal https://www.cbsnews.com/video/accounting-clerk-created-original-art-on-billing-statements-to-help-a-patient-heal/ Get in Touch Thanks 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) 695-1040 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 Podchaser: http://cloudacctpod.link/podchaser Spotify: ht...