Podcast Episode Details
Back to Podcast Episodes
Colbert's Losing P&L, Impending AI Fraud Crisis, House Holds FASB Hostage
Episode 446
What happens when politicians threaten to cut funding from accounting standard-setters unless they eliminate specific rules? Blake and David explore unprecedented political interference in FASB and PCAOB operations, plus the IRS facing a 23% budget cut despite Trump's push for more customer service staff. They unpack Sam Altman's warning about AI breaking voice authentication at major banks, why accounting degrees deliver 261% ROI (fourth-best among all majors), and how $28.7 billion in private equity money is reshaping CPA firms. Plus, the economic reality behind Stephen Colbert's show cancellation, Bitcoin's institutional takeover, and how tariff uncertainty is creating impossible planning conditions for businesses.
Sponsors
Human at Scale - http://accountingpodcast.promo/human
Keeper - http://accountingpodcast.promo/keeper
Missive - http://accountingpodcast.promo/missive
Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters
- (00:41) - The Decline of Late Night TV
- (03:02) - The Shift to Digital Media
- (13:51) - AI in Accounting Firms
- (16:46) - PCOB Leadership Changes
- (20:06) - Legislation to Eliminate PCOB
- (21:06) - FASB Funding Threats
- (24:54) - IRS Budget Cuts
- (31:56) - Deloitte's Audit Investigation
- (32:55) - Uncovering Glencore Energy's Bribery Scandal
- (34:19) - The ROI of an Accounting Degree
- (38:01) - Private Equity's Surge in Accounting Firms
- (54:46) - The Immigration Debate and Economic Consequences
- (01:00:57) - Alternative Pathways in Accounting: Alaska's New Law
- (01:01:48) - Conclusion Final Thoughts
Show Notes
CBS is ending 'The Late Show with Stephen Colbert' next year | CNN Business
https://www.cnn.com/2025/07/17/media/cbs-cancels-stephen-colbert
Stephen Colbert's 'Late Show' run will come to an end next year as CBS cancels franchise
https://www.nbcnews.com/pop-culture/tv/stephen-colbert-late-show-end-cbs-rcna219499
Inside CBS' 'agonizing decision' to cancel Colbert's top-rated late-night show | CNN Business https://www.cnn.com/2025/07/18/media/colbert-cbs-late-show-cancel-paramount-trump
SEC.gov | SEC Announces George Botic to Serve as Acting Chair of the Public Company Accounting Oversight Board
https://www.sec.gov/newsroom/press-releases/2025-100-sec-announces-george-botic-serve-acting-chair-public-company-accounting-oversight-board
George Botic Takes Over as Acting Chief of the PCAOB - CPA Practice Advisor
https://www.cpapracticeadvisor.com/2025/07/22/george-botic-takes-over-as-acting-chief-of-the-pcaob/165364/
SEC names George Botic as acting chair of PCAOB | Accounting Today
https://www.accountingtoday.com/news/sec-names-george-botic-as-acting-chair-of-pcaob
House Republicans propose to withhold funds from FASB unless income tax reporting standard is withdrawn | Accounting Today
Published on 3 weeks, 6 days ago