$95 Million Missing—and Still a Clean Audit?

How does $95 million go missing at a bank—and still get a clean audit? Blake and David unpack the Evolve Bank/Synapse meltdown, what auditors missed, and how SOC reports fall short. Plus: the penny shortage pushing cash rounding at the register, the shocking stat that even 29% of partners don’t know partner pay, and the case for semiannual reporting. Walk away with practical takeaways for clients, staff, and your own firm.


Chapters

• (00:44) - The Penny Shortage Crisis
• (03:52) - Evolve Bank's $95 Million Scandal
• (17:12) - Earmark CPE and Other Podcast Recommendations
• (22:00) - Partner Salaries and Compensation Transparency
• (28:27) - Data Breach at SAX Accounting Firm
• (33:28) - Semi-Annual Reporting Debate
• (36:25) - Debating Semi-Annual Reporting
• (37:38) - Quarterly Reporting Games
• (38:25) - LinkedIn Comment: The Case for Quarterly Reports
• (39:11) - The Value of Financial Statements
• (39:58) - Challenges in Modern Accounting
• (46:57) - 2026 Accounting Predictions
• (52:01) - AI's Impact on Bookkeeping
• (01:09:08) - Closing Thoughts and Farewell

 

Square Enables Penny Rounding 

 

CFPB Allocates $46 Million To Synapse/Evolve Victims In First-Ever Fintech Bailout 

 

The 2025 Accounting Today Salary Survey 

 

The Ultimate 2026 Accounting Salary Guide 

 

Deloitte's CTO: companies are spending 93% on tech and only 7% on people and that has to change 

 

Accounting firm waited 18 months to announce breach 

 

Should Public Companies Move to Semi-Annual Reporting? 

 

United States Mint Hosts Historic Ceremonial Strike for Final Production of the Circulating One-Cent Coin 

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The full transcript for this episode is available by clicking on the Transcript tab at the top of this page