SEC Charges Trump's Audit Firm with Massive Fraud

The SEC charged Trump's audit firm with a massive fraud – 1,500 fake filings over 2.5 years! Plus, hundreds of small US banks are at risk due to commercial real estate loan exposure. We're also talking about the potential of AI tools like Claude and ChatGPT to automate various accounting and business tasks, the controversial Corporate Transparency Act's beneficial ownership reporting requirements, and the possibility of its repeal. We wrap with fintech and crypto news, including Mercury Bank's rapid growth and potential regulatory issues. Sponsors

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Chapters

(09:04) - Anthropic launches Claude for teams

(11:12) - More LLM models pass CPA exam

(18:28) - Blake demonstrates AI's abiity to help with emails

(32:56) - 28 AI prompts for small businesses

(36:39) - Oregon Senator going after TurboTax to issue refunds to Oregonians

(38:44) - The possibility of a regional banking crisis

(48:12) - The Corporate Transparency Act might be repealed

(54:15) - Tether claims they can't find a Big 4 firm to audit them

(56:54) - Mecurity Bank being looked at by FDIC

(01:02:05) - Square to allow users to transfer percent of daily sales to Bitcoin

(01:03:26) - Download and sign up for the Earmark app

Show Notes Anthropic launches a free Claude iOS app and Team, its first enterprise plan | ZDNET https://www.zdnet.com/article/anthropic-launches-a-free-claude-ios-app-and-team-its-first-enterprise-plan/   SEC.gov | SEC Charges Audit Firm BF Borgers and Its Owner with Massive Fraud Affecting More Than 1,500 SEC Filings https://www.sec.gov/news/press-release/2024-51   Oregon senator demands refunds for TurboTax customers over glitch | Accounting Today https://www.accountingtoday.com/news/oregon-senator-demands-refunds-for-turbotax-customers-over-glitch   Can LLMs Pass the CPA Exam? Evaluating Large Language Model Performance on the Certified Public Accountant Test by Will Zacher, Sanmukh Kuppannagari :: SSRN            https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4788096   Sam Altman says helpful agents are poised to become AI’s killer function | MIT Technology Review     https://www.technologyreview.com/2024/05/01/1091979/sam-altman-says-helpful-agents-are-poised-to-become-ais-killer-function/   Why hundreds of U.S. banks may be at risk of failure    https://www.cnbc.com/2024/05/01/why-hundreds-of-us-banks-may-be-at-risk-of-failure.html   Tether CEO Says An Audit By A Big Four Giant Is Our Top Priority             https://coingape.com/tether-ceo-says-an-audit-by-a-big-four-giant-is-our-top-prioritterrestrial Block lets Square merchants convert a part of their daily sales to bitcoin https://techcrunch.com/2024/04/24/block-now-lets-square-merchants-convert-a-part-of-their-daily-sales-to-bitcoin/   The 28 best AI prompts for small businesses     https://www.sage.com/en-us/blog/the-28-best-ai-prompts-for-small-businesses/   Congress considers how to fix the Corporate Transparency Act https://www.accountingtoday.com/news/congress-considers-how-to-fix-the-corporate-transparency-act   Article from www.congress.gov               https://www.congress.gov/bill/118th-congress/house-bill/8147/cosponsors   Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal https://www.cnbc.com/2024/04/30/binance-founder-changpeng-zhao-cz-sentenced-to-four-months-in-prison-.html

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