Blake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession.

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Chapters

(05:01) - Sponsors and H1B Visa Discussion
(11:14) - H1B Visa Impact on Accounting
(26:53) - Bench Accounting Shutdown
(45:17) - VCs and the Tough Decisions
(47:42) - Challenges in Automating Bank Transactions
(48:58) - H1B Visa Workers and Financial Misconduct
(52:19) - Predictions for 2025 and Beyond
(58:12) - Private Equity's Impact on Accounting Firms
(01:08:15) - Barry Melanson's Legacy and the Future of CPA
(01:15:23) - Conclusion and CPE Credits
(01:16:45) - Bitcoin and Quantum Computing

Show Notes

Robert Sterling – Twitter - H-1B DATA MEGA-THREAD

https://x.com/RobertMSterling/status/1873174358535110953

Deloitte employees with H-1B visas were paid 10% less than US workers, report finds

https://www.hrdive.com/news/deloitte-employees-with-h-1b-visas-were-paid-10-less-than-us-workers/735162/

Bench to be acquired after abruptly shutting down

https://techcrunch.com/2024/12/30/bench-to-be-acquired-after-abruptly-shutting-down/

‘Most important man in accounting’ warns against lowering standards

https://www.ft.com/content/033792af-18e4-4d69-92f9-5b78b01f2012

Meet Willow, our state-of-the-art quantum chip

https://blog.google/technology/research/google-willow-quantum-chip/

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Transcripts

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