Good morning! Especially to the hockey fans. I’ve gathered up some news from around our corner of the world. Reminder that comments are closed on the news brief by default, you can always @ us or get in touch with your scathing hot takes.
In this news brief:
A 4-Day Workweek Experiment Failed
A mid-market firm across the pond is scrapping a 4-day workweek experiment after determining they weren’t getting enough value for their money, reports Financial News. Under the experiment, staff got 100% of their pay for 80% of their usual hours with an expectation of 100% productivity.
The Derby-based business, which calls itself the ‘Rebels of Accountancy’ and seeks to disrupt the industry’s ‘stale, male, grey suits’ stereotype, will stop the pilot in March.
April Homer, Cooper Parry partner and chief people officer, told Financial News: “This wasn’t a decision we took lightly. After three years of trials, adjustments and feedback from across our business and our clients, we’ve concluded that the model isn’t working in a way that’s sustainable for everyone.”
Taxpayers Shy Away From AI
Some sad news for those of you who were hoping AI would take your job soon: taxpayers aren’t feeling as confident about letting AI file their taxes. Reports Journal of Accountancy:
Fewer taxpayers say they would consider trusting artificial intelligence (AI) over hiring a tax professional to file their taxes this year compared with 2025, and the percentage slipped across all generations, according to the second annual U.S. Tax Filing Report by an invoice automation company.
In 2026, 37% of respondents said they would consider trusting AI over hiring a tax professional, according to the survey conducted for Invoice Home. In 2025, the percentage of taxpayers who trusted AI for tax filing was 43%, the survey said.
Interestingly, the number of respondents who are comfortable doing their own taxes stayed pretty much the same at 41% in 2025 and 42% in 2026. So taxpayers trust themselves more than they trust AI, hmmm.
So Long and Thanks For the SaaS
Forbes writes that SaaS companies seem to take hits when Anthrophic makes Claude announcements. Is the end of SaaS upon us?
And for the second time in a few weeks, stocks of SaaS companies fell following Anthropic’s announcement. Oracle was down nearly 4.5%, Thomson Reuters lost about 5.4%, Salesforce dropped about 3.8% and Intuit cratered nearly 5.5%. It wasn’t as bad as the earlier routing that many SaaS makers’ stock prices saw after Anthropic announced its specialized Claude Cowork plugins meant for use in specific work roles—including legal, marketing, finance, customer support and bio research—but the selloffs weren’t good news for Wall Street’s faith in the future of SaaS.
But there’s a really big “however” here: Enterprises were already replacing SaaS, and that shift was underway before Anthropic’s developments this year. Enterprise app generation platform Retool found that 35% of companies have already replaced at least one SaaS tool with something they built themselves, and 78% plan to continue to replace more SaaS tools this year. About a third of companies are building software for workflow automation or internal administration tools. About three in 10 are working toward BI tools, while close to a quarter are building CRM or sales tools, form builders or project management tools.
You’re Gonna File That Audit, Dangit
The state of Wyoming is forcing a county to finish yet another late audit before it hands over sales tax money, a persistent issue across the country.
Campbell County employees are working to complete the fiscal year 2024-2025 audit, which was due at the end of 2025. And due to the delay, the state is withholding $3 million in sales tax from Campbell County until the audit is complete.
Earlier this year, Campbell County Commissioners approved the audit for fiscal year 2023-2024, which was due in December 2024. The audit for FY25 was due in December 2025.
The county hopes to have the FY25 audit complete by June 30. It will be the fourth straight audit that the county has turned in late.
The funny part is the county tried to get a break due to “staff turnover and a new financial management system” but the Department of Audit told them LOL no, get it together.
There’s only one comment on the article and its this:
Carvana Claps Back on the Short Sellers
Carvana’s long-time CFO clapped back on accusations that the car company has more related-party transactions than it has disclosed, writes CFO Dive:
Carvana discloses all of its related party transactions inside of its financial statements, CFO Mark Jenkins said during the company’s earnings call Wednesday, refuting allegations by short sellers that the used car marketplace is not properly disclosing such transactions in its financial filings.
The finance chief’s comments mark the latest twist in a years-long debate that has swirled around the Phoenix, Ariz.-based company’s accounting practices, particularly surrounding its reporting processes regarding auto loans, according to a 2021 report by the Wall Street Journal.
The comments appear to be prompted by this Gotham City Research report published last week: Carvana: New Information Reveals that BridgeCrest is the lienholder – CVNA must explain How and How Much
Here’s another one from Hindenburg Research, published in January: Carvana: A Father-Son Accounting Grift For The Ages
Please Check in On Your Industry Friends
Bloomberg Tax reminds us that the Supreme Court’s recent tariff ruling has just screwed things up for way, way too many accountants. Sorry, everyone, you’ll be working late again.
Corporate accountants still preparing annual financial reports due to the US Securities and Exchange Commission next month will have to scramble to make sure the information is still accurate. The ruling is expected to trigger fresh disclosures detailing the potential ramifications for companies that grappled with a sudden markup for imported goods and materials.
With trade costs potentially alleviated, companies also will have to consider possible updates to cash flow projections that underpin inventory values along with earnings estimates.
And that’s gonna be a wrap for this Monday news brief. Give me a shout by email or text if you see a story, have a tip, or just want to exchange shower thoughts. Bye!