Could public companies stop reporting every quarter? Blake and David break down the SEC’s push toward optional semiannual reporting, OpenAI’s new consulting arm, and what both moves could mean for accountants. They also cover tariff refund accounting, audit lawsuits, AI outperforming doctors in diagnosis tests, and why accountants may be better positioned than ever to build software and solve higher-value problems.


Sponsors
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
OnPay - http://accountingpodcast.promo/onpay
C&R Consulting - http://accountingpodcast.promo/cnr
Fishbowl - http://accountingpodcast.promo/fishbowl


Chapters

  • (00:00) - TAP 487
  • (02:52) - Semiannual reporting shift
  • (06:46) - OpenAI enters consulting
  • (09:59) - True cost of Iran war
  • (15:40) - Xero founder scandal
  • (18:42) - Tariffs and refund accounting
  • (24:51) - WNBA millionaire tax myth
  • (28:18) - NYC pied a terre tax
  • (31:42) - Education loans and accounting
  • (34:58) - Chat Prompts Cyber Accounting
  • (36:15) - PwC Audit Scandal Lawsuit
  • (38:17) - BDO First Brands Fallout
  • (40:50) - PCAOB QC Rule Debate
  • (44:34) - RSM Layoffs Audit Demand
  • (46:54) - AI Beats ER Doctors
  • (49:18) - Chegg Disrupted By AI
  • (51:13) - Rethinking Education Model
  • (53:17) - Accountants As Vibe Coders
  • (56:55) - Build Accounting In Excel
  • (01:01:44) - Wrap Up CPE And Travel

 


Show Notes

SEC, FASB Prepare for Semi-Annual Reporting Option

https://www.accountingtoday.com/news/sec-fasb-prepare-for-semi-annual-reporting-option

OpenAI Launches the OpenAI Deployment Company to Help Businesses Build Around Intelligence

https://openai.com/index/openai-launches-the-deployment-company/


Opinion | The Iran War Will Cost Trillions

https://www.nytimes.com/2026/05/08/opinion/hegseth-war-cost.html


Global Economic Conditions Survey: Q1 2026

https://www.accaglobal.com/us/en/professional-insights/global-economics/gecs-q1-2026.html


Xero Founder Sir Rod Drury Returns New Zealander of the Year Award Amid Misconduct Claims

https://www.rnz.co.nz/news/business/594669/xero-founder-sir-rod-drury-returns-new-zealander-of-the-year-award-amid-misconduct-claims


Refunds on Trump Tariffs Pose Accounting Dilemmas for Companies

https://news.bloombergtax.com/financial-accounting/refunds-on-trump-tariffs-pose-accounting-dilemmas-for-companies


WNBA Star Kelsey Plum Shows Embarrassing Lack of Tax Knowledge

https://thespun.com/wnba/wnba-star-kelsey-plum-shows-embarrassing-lack-of-tax-knowledge


Column: WNBA Star Kelsey Plum Is Taking Heat for Getting California Tax Law Wrong. But Don't Blame Her

https://www.cpapracticeadvisor.com/2026/05/06/column-wnba-star-kelsey-plum-is-taking-heat-for-getting-california-tax-law-wrong-but-dont-blame-her/182897/


New York's Pied-a-Terre Tax Sets Up Legal Fight Over Values

https://www.cnbc.com/2026/04/24/new-york-pied-a-terre-tax.html


Education Dept. Rejects Accounting as Professional Degree

https://www.accountingtoday.com/news/education-dept-rejects-accounting-as-professional-degree


Corporate Travel's Accounting Shock: What It Means for PwC and the Wider Industry

https://www.corporatekeysaustralia.com.au/accommodation/news/corporate-travels-accounting-shock-what-it-means-for-pwc-and-the-wider-industry


First Brands Creditor Sues Auditor BDO Over Missed Red Flags

https://news.bloombergtax.com/financial-accounting/first-brands-creditor-sues-auditor-bdo-over-missed-red-flags


Layoff Watch '26: RSM Trims Down in Audit

https://www.goingconcern.com/layoff-watch-26-rsm-trims-down-in-audit/


AI Is Starting to Beat Doctors at Making Correct Diagnoses

https://www.science.org/content/article/ai-starting-beat-doctors-making-correct-diagnoses


Chegg Was Dying Way Before ChatGPT – Chatbots Just Dealt the Fatal Blow

https://www.barchart.com/story/news/1744436/chegg-was-dying-way-before-chatgpt-chatbots-just-dealt-the-fatal-blow


Anthropic's Boris Cherny: Why Coding Is Solved, and What Comes Next

https://www.youtube.com/watch?v=SlGRN8jh2RI


Need CPE?

Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com


Get in Touch

Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.


Sponsorships

Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus.


Need Accounting Conference Info? 

Check out our new website -

Rss Apple Podcaster
Podden och tillhörande omslagsbild på den här sidan tillhör Blake Oliver & David Leary. Innehållet i podden är skapat av Blake Oliver & David Leary och inte av, eller tillsammans med, Poddtoppen.