SC Comptroller Steps Down After $3.5 Billion Error (Guest: Terrell Turner)

This Week's Guest: Terrell Turner, CPA; 85% of MNCPA members working in public accounting support an alternative to 150 hours; The Silicon Valley Bank Balance Sheet Time Bomb "Sitting In Plain Sight"; Senator Warren complains to PCAOB about sham crypto "audits"; JPMorgan Chase’s nickel bags turn out to be full of stones; PwC introduces AI chatbot for 4,000 lawyers to speed up work; Xero kills WorkflowMax Sponsors SuiteFiles - https://cloudaccountingpodcast.promo/suitefiles Zoho - https://cloudaccountingpodcast.promo/zoho Keeper - https://cloudaccountingpodcast.promo/keeper Chapters (00:00) - Cloud Accounting Podcast Episode 325 (00:26) - Preview: Accountants aren't eating their own dog food (01:10) - Introduction and welcome Terrell Turner to the show (03:31) - What does Terrell's practice do and who do they serve? (05:11) - South Carolina's comptroller resigns due to $3.5 billion error (11:30) - Blake and David talked to Linda about alternative CPA pathway (15:37) - Blog Post on NASBA website on CPA pipeline problem (19:11) - Are salaries the bigger issue? (21:24) - Clip from the Financial Executive podcast (27:15) - A little bit about Sillicon Valley Bank (43:07) - The issue with non-profits finding auditors and throwing accountants under the bus (48:02) - Elizabeth Warren writes letter to PCAOB about scam crypto "audits" (49:32) - JPMorgan Chase's nickel bags turn out to be full of stones (51:33) - OpenAI is connecting ChatGPT to the internet (01:02:11) - Xero kills WorkflowMax (01:03:54) - PwC introduces AI chatbot for 4,000 lawyers to speed up work (01:10:23) - Wrap up and where to reach Terrell, Blake, & David Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com Earn CPE for listening to podcasts with Earmark CPE: https://earmarkcpe Transcript The transcript of this episode is available by clicking on the Transcript tab at the top of this page. Show Notes Texas Close to Allowing CPA Candidates to Test with 120 Credits https://www.cpapracticeadvisor.com/2023/03/22/texas-close-to-allowing-cpa-candidates-to-test-with-120-credits/78123/ South Carolina's Top Accountant to Step Down After $3.5 Billion Error https://www.cpapracticeadvisor.com/2023/03/23/south-carolinas-top-accountant-to-resign-after-3-5-billion-error/78209/ MNCPA to Educators: "We Do Not Need New CPAs Who Have Additional College Credits; We Need More CPAs, Period." https://www.goingconcern.com/mncpa-to-educators-we-do-not-need-new-cpas-who-have-additional-college-credits-we-need-more-cpas-period/ Banks and investors are reviving a push for changes to securities accounting after the SVB collapse https://www.wsj.com/articles/banks-investors-revive-push-for-changes-to-securities-accounting-after-svb-collapse-99caa9ce PwC introduces AI chatbot for 4,000 lawyers to speed up work https://gulfbusiness.com/pwc-introduces-ai-chatbot-for-4000-lawyers/ The More Things Change, the More They Stay the Same: Addressing the CPA Pipeline Crisis | NASBA https://nasba.org/blog/2023/03/14/addressing-the-cpa-pipeline-crisis/ QuickBooks leans into AI in 2023 | Accounting Today https://www.accountingtoday.com/news/quickbooks-plans-to-go-all-in-on-ai-in-2023 SVB's balance-sheet time bomb was 'sitting in plain sight' https://www.accountingtoday.com/articles/svbs-balance-sheet-time-bomb-was-sitting-in-plain-sight-short-seller-says 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: http://cloudacctpod.link/Spotify Stitcher: http://cloudacctpod.link/Stitcher Overcast: http://cloudacctpod.link/Overcast YouTube: https://www.youtube.com/c/CloudAccountingPodcast Classifieds Client Hub - https://clienthub.app/ Future Firm Accelerate - https://futurefirmaccelerate.com/cap Uncat - https://www.uncat.com/ Nett Tracker - h ttps://www.nett-tracker.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 ...