The best job in America... is for accountants!
It's a jam-packed episode of accounting and bookkeeping news, including: CPA Practice Advisor announces the 2019 "40 Under 40"; Sage acquires AutoEntry; a CPA exam in Canada that turned into the "Fyre Festival for accountants"; VLOOKUP is dead, long live XLOOKUP; the best job in America turns out to be an accounting job; and last but not least, a special interview with two of the frontline reporters covering the MyPayrollHR payroll fraud saga — get the latest updates on Michael Mann's confession, his web of business lies, and what's next.
Sponsors
- BQE Core: http://cloudaccountingpodcast.promo/core
Show Notes
- 01:44 – Another five-star review!
- 02:52 – Some familiar faces made CPA Practice Advisor's 2019 40 Under 40 list | CPA Practice Advisor
- 04:10 – AICPA held a not-so-time-zone-inclusive webinar on diversity and inclusion | Accounting Today
- 04:59 – David's Home Away from Podcast, AutoEntry, just got acquired by Sage! | Sage
- 07:18 – Better late than never - Blake finally files is taxes!
- 10:15 – Fyre Festival - Accounting Version | Financial Post
- 11:17 – Testing, testing … Is this thing on? CPA Canada failed to test its test-taking software before unleashing it on test-takers | Going Concern
- 14:45 – Wanna play with numbers AND carry a gun? | Journal of Accountancy
- 14:56 – AICPA has released new standards for forensic accountants | AICPA
- 15:21 – Tipalti raises $76 million in a recent D funding round | CPA Practice Advisor
- 15:46 – Fundbox packs a bigger punch now with $176 million in Series-C funding |
- 17:23 – Speaking of Intuit, QuickBooks Online is now offering mileage tracking, and if adding some other performance-enhancing elements in its September round of updates | QuickBooks
- 19:31 – Not-so-thrifty glitch in TurboTax results in a $216 million tax bill for one probably very unsuspecting thrift-store employee | Forbes
- 21:53 – Out with the V, in with the X ... Microsoft ushers in a newer, shinier function for Excel | Microsoft
- 24:35 – Wells Fargo and Plaid's new data-sharing agreement gives customers even more data control | Bank Innovation
- 26:00 – BBVA wants to be a lover, not a fighter, using its Open Platform, and further innovation to help fintech startups | Bank Innovation
- 28:45 – Sharing the love, fintechs are pairing up with smaller banks to overcome the no-charter hurdle | L.A. Times
- 31:54 – It’s a numbers game – accounting-related positions are the best jobs to have in America! | MarketWatch
- 35:57 - A position that allows you to learn and move upward leads to the highest amount of job satisfaction
- 37:57 – Tech is top priority … Really, it is! | Deloitte Controllership Digest
- 40:11 -- Make sure you come back next week for more important survey results, like the third-quarter AICPA Economic Outlook Survey!
- 40:36 – The moment you've been waiting for! More news and insight on the MyPayroll fiasco!
- 41:32 – Meet two of the frontline reporters in the MyPayrollHR situation - Chelsea Diana, and Michael Williams
- 47:44 – It's important to note that there is no indication that the employees of MyPayrollHR knew what was going on.
- 49:16 – It's still not clear where all that money went, or if parties, like Cachet, who eventually covered the missing payroll, will be reimbursed
- 49:40 – Just how big of a tangled web did Michael Mann weave?
- 50:22 – At least three banks claim a combined loss of $36 million due to fraud, but did not name Mann, or MyPayrollHR in their disclosures
- 50:58 – This Michael actually laid eyes on that elusive Michael, and can confirm he is human, sort of ...
- 51:40 – The Big Chill - Mann's check-kiting antics resulted in frozen accounts at both Bank of America, and Pioneer Bank
- 52:55 – Mann, and MyPayrollHR's parent company, Valuewise, had their hands in a variety of business, ranging from staffing to healthcare, and beyond
- 57:22 – Though Mann has admitted to $70 million worth of fraud, it's up in the air what will happen next
- 59:27 – No matter Mann's motive for committing this fraud, the key takeaway for accountants and bookkeepers recommending payroll services to clients is to know exactly who you're dealing with!
Connect with Our Guests!
Michael Williams
Michael Williams
- Website: https://www.timesunion.com/author/michael-williams/
- Twitter: https://twitter.com/michaeldamianw?lang=en
Chelsea Diana
- Website: https://www.bizjournals.com/albany/bio/25841/Chelsea+Diana
- LinkedIn: https://www.linkedin.com/in/chelsea-diana/
- Twitter: https://twitter.com/AlbBizChelsea
Get in Touch
Thanks for listening and for the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and, if you like what you hear, please do us a favor and write a review on iTunes, or Podchaser. Interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.
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