Could AI make a one-person audit firm possible—and what happens if the data-center boom slows down first? Blake and David examine the AI economy’s circular debt, the construction ripple effects of a pullback, and practical ways firms can document workflows before automating them. They also cover AI-powered continuous audits, Mercury’s new general ledger, and tax evasion headlines.
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Chapters
- (00:00) - OnlyFans Tax Evasion
- (00:27) - Podcast Welcome Halloween
- (04:02) - News Lineup
- (06:34) - AI Bubble Warning
- (14:14) - AI Adjusted EBITDA
- (18:07) - SOP Marathon For AI
- (21:19) - AI SOP Workflow Tip
- (26:41) - Christina Ho AI Audits
- (29:22) - Audit Fees Under AI
- (29:55) - Audit Fees Surge
- (30:57) - AI Disrupts Audits
- (33:56) - Solo CPA Audit Firm
- (35:26) - Who Wins and Loses
- (35:52) - Audit Demand Explained
- (36:40) - Tech Enables New Entrants
- (38:26) - Audit Like Cloud Accounting
- (42:00) -
- (43:03) - IRS Refund Nightmare
- (44:33) - OnlyFans Tax Evasion
- (46:51) - Punishing Financial Crime
- (49:59) - Mercury Launches Books
- (52:22) - Can Banks Compete
- (54:33) - Is Mercury Enough
- (56:44) - Wrap Up and CPE
Show Notes
NRF: Halloween spending to remain strong, reach $13.5B
https://chainstoreage.com/nrf-halloween-spending-remain-strong-reach-135b
Too interconnected to fail? New paper connects the AI dots
https://www.axios.com/2026/09/21/ai-finance-credit-circular
The AI gold rush has a dress code: steel-toe boots
https://finance.yahoo.com/economy/articles/ai-gold-rush-dress-code-233725771.html
40% of Small Businesses Lack Cash Reserves to Survive a Month of Late Client Payments
https://www.cpapracticeadvisor.com/2026/09/21/40-of-small-businesses-lack-cash-reserves-to-survive-a-month-of-late-client-payments/190371/
AI Future Savings Is Latest Ebitda Tweak to Jolt Debt Investors
https://www.bloomberg.com/news/articles/2026-09-17/ai-future-savings-is-latest-ebitda-tweak-to-jolt-debt-investors
How to run a SOPathon: The missing first step in every AI strategy
https://www.accountingweb.co.uk/community/industry-insights/how-to-run-a-sopathon-the-missing-first-step-in-every-ai-strategy
The 3-phase roadmap every accounting firm needs before AI delivers
https://www.accountingtoday.com/opinion/the-3-phase-roadmap-every-accounting-firm-needs-before-ai-delivers
Process Street MCP Server
https://www.process.st/help/docs/mcp-server/
Christina Ho's next act
https://www.cfobrew.com/stories/christina-hos-next-act
AI sounds the death knell for audit fee inflation
https://www.ft.com/content/80d02797-9a54-47e0-8bc3-a7144354da93
Tennessee Farmer Tried to Return $20,000 to IRS. Years Later, He's Still Fighting
https://www.cpapracticeadvisor.com/2026/07/23/tennessee-farmer-tried-to-return-20000-to-irs-years-later-hes-still-fighting/187281/
OnlyFans content creator pleads guilty to tax evasion
https://www.irs.gov/compliance/criminal-investigation/onlyfans-content-creator-pleads-guilty-to-tax-evasion
Mercury Launches Intelligent Accounting with Mercury Books
https://www.morningstar.com/news/business-wire/20260916850195/mercury-launches-intelligent-accounting-with-mercury-books
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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.
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