About this episode
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...