About this episode
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 project Sponsors OnPay - https://cloudaccountingpodcast.promo/onpay Relay - https://cloudaccountingpodcast.promo/relay First Republic Bank - https://cloudaccountingpodcast.promo/firstrepublic Need CPE? Subscribe to the Earmark Accounting Podcast: https://podcast.earmarkcpe.com Get 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 classifieds Show Notes How 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 Time https://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 B https://www.startupdaily.net/topic/funding/self-employed-bookkeeping-platform-hnry-books-35-million-series-b/ McDonalds Presidents Says California FAST Act Will Kill Restaurants https://smallbiztrends.com/2023/01/mcdonalds-presidents-says-california-fast-act-will-hurt-small-business.html New York Requires Disclosure in Small Businesses Financing https://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 Comparison https://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 Financing https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202302011 Crypto’s One-Time Favorite Bank Faces Federal Probe Into FTX Relationship https://www.pymnts.com/cryptocurrency/2023/cryptos-one-time-favorite-bank-faces-federal-probe-into-ftx-relationship/ US Bank launches automated direct deposit switching https://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/