Show Notes
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
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