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We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

Despite the ever-changing landscape, materiality remains the cornerstone of sustainability reporting – and it’s here to stay. In this episode, we discuss how materiality is defined and applied under both the European Sustainability Reporting Standards (ESRS) and International Sustainability Standards Board’s (ISSB) standards, highlighting key similarities and differences.

In this episode, we discuss:

• 2:13 – Understanding double materiality and impacts, risks, and opportunities (IROs) in the ESRS framework
• 19:15 – Considering long-term horizons, cumulative effects, and uncertainty under ESRS
• 26:39 – Disclosure of relevant IROs under ESRS, including the importance of stakeholders 
• 34:21 – The concept of materiality under ISSB standards
• 40:23 – ISSB risks and opportunities

Identifying impacts, risks, and opportunities as well as performing a double materiality assessment are fundamental areas of reporting in accordance with ESRS that are not expected to be impacted by the European Commission’s “Omnibus” proposals at this time. For information on how the “Omnibus” proposals could impact reporting, check out PwC’s publication.

About our guest
Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. 

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

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We continue our back-to-basics series on financial statement presentation with an episode focused on fair value disclosures. Fair value measurements are used across many areas of financial reporting—and the related disclosure requirements can be extensive. From recurring versus nonrecurring measurement disclosures to those relating to fair value hierarchy, we highlight key considerations. 

In this episode, we discuss:

• 1:09 – General fair value disclosure requirements
• 8:13 – Fair value hierarchy disclosures
• 14:52 – Disclosures of unobservable inputs and valuation techniques
• 17:04 – Concentrations of credit risk and market risk disclosures
• 18:35 – Fair value disclosures for instruments not measured at fair value
• 19:48 – Applying the fair value option
• 27:52 – SEC comment letter trends

For more information, see chapter 20 of our Financial statement presentation guide and our Fair value guide. You can also listen to the first episode in this series, Reporting reset – Presentation fundamentals. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership. 

About our guest
Bret Dooley is a PwC National Office Deputy Chief Accountant who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

Understanding the boundaries, or reporting scope, of sustainability reporting frameworks, including with the European Sustainability Reporting Standards and IFRS Sustainability Disclosure Standards, is critical for compliance. In this episode, we explore key concepts like own operations, value chain, and time boundaries to help companies navigate sustainability reporting alongside financial reporting.

In this episode, we discuss:

• 1:08 – What the term “boundaries” means for sustainability reporting
• 2:49 – How sustainability and financial reporting boundaries compare
• 14:31 – Understanding upstream and downstream value chains and why they are part of sustainability reporting
• 25:32 – Time horizons for reporting, including short, medium, and long term
• 30:38 – How to handle changes in entity structure during the year

ICYMI: Check out the five episodes of this miniseries:

• Sustainability now: Navigating shifts in the reporting landscape 
• Sustainability now: An overview of key reporting frameworks
• Sustainability now: Determining required reporting
• Sustainability now: Navigating “Omnibus” uncertainty
• Sustainability now: California climate reporting laws continue on

About our guest
Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We kick off our latest accounting series focused on financial statement presentation and we go back to the basics. This first episode sets the stage by covering foundational reporting principles, key disclosure considerations, notable differences between public and private company financial statements, and accounting changes and error corrections.

In this episode, we discuss:

• 1:04 – Foundational GAAP and SEC requirements for financial statement presentation
• 2:46 – Determining appropriate reporting periods
• 5:01 – Balance sheet presentation: classification, required disclosures, and best practices
• 11:23 – Income statement presentation: structure and key considerations
• 21:10 – Accounting changes, estimates, and error corrections
• 31:50 – Subsequent events: recognition and disclosure

For more on this topic read the following chapters in our Financial statement presentation guide:

• Chapter 1: General presentation and disclosure requirements
• Chapter 2: Balance sheet
• Chapter 3: Income statement
• Chapter 28: Subsequent events
• Chapter 30: Accounting changes

Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership. 

About our guest
Pat Durbin is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.

About our host
Guest host Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

California’s climate disclosure laws have broad implications for businesses worldwide. In this episode, we break down the key reporting requirements, including on greenhouse gas (GHG) and climate risk, and discuss how companies—whether headquartered in California or not—can prepare.

In this episode, we discuss:

• 1:10 – Overview of California’s climate disclosure laws
• 3:45 – Scope of California SB 253
• 14:05 – Greenhouse gas reporting required by California SB 253
• 24:52 – Scope of California SB 261
• 31:42 – Climate risk reporting under the Task Force on Climate-Related Financial Disclosures (TCFD) framework
• 37:57  – Interoperability with the International Sustainability Standards Board and the European Sustainability Reporting Standards
• 39:18 – California legal challenges, activity in other states, and why companies should continue to move forward

As referenced in the episode, check out PwC’s report Still early days – A review of year two of TCFD reporting for more information on reporting in accordance with the TCFD.

About our guests
Marcin Olewinski is a PwC Assurance practice partner with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. 

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Tariffs are dominating headlines and reshaping global trade. In this episode we break down what they may mean for businesses and financial reporting, and we share insights on how companies can prepare. 

In this episode, we discuss:

• 1:44 – Overview of tariffs and the current state of play
• 16:28 – Key financial reporting impacts
• 21:12 – Reciprocal tariffs: Country- and industry-specific impacts
• 25:44 – Accounting implications: Cost capitalization, customer contracts, asset impairments, income taxes, and disclosures
• 37:30 – Strategies for managing tariff impacts

For more on this topic, read our publications, Accounting implications of tariffs and How Trump's tariffs could impact US companies. 

About our guests
Christopher Desmond is a leader in PwC's US Global Trade Services team with over 20 years of experience in transfer pricing. He is known for customized offerings in trade / tariffs combined with other specialties such as supply chain, transfer pricing, and international tax. Chris develops transfer pricing and value chain strategies to help clients manage their businesses using a “best foot forward” approach. 

Pat Durbin is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

We're excited to continue our video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

In this bonus episode, we break down the EU’s Omnibus proposal released on February 26, covering key changes to the Corporate Sustainability Reporting Directive (CSRD), including potential impacts to timing and requirements. Join PwC’s Heather Horn and Diana Stoltzfus as they discuss the implications for companies and what’s next in the legislative process.

In this episode, we discuss:

• 1:46 – Background on the regulatory changes driving the Omnibus proposals
• 5:20 – The process and timeline of the CSRD proposals
• 9:58 – Two CSRD proposals – “stop the clock” and content revision – and potential implications
• 29:30 – The next steps for these proposals
• 31:40 – Proposed changes to EU Taxonomy regulations and member state transposition
• 37:28 – How companies can consider these potential changes before they become final

ICYMI: Check out the first three episodes of this miniseries:

• Sustainability now: Navigating shifts in the reporting landscape 
• Sustainability now: An overview of key reporting frameworks
• Sustainability now: Determining required reporting

About our guest
Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

We're excited to continue a video podcast series on the foundations of sustainability reporting. Now watch along with our sustainability specialists as they discuss the latest on sustainability.

Understanding which sustainability reporting frameworks apply to your company is a crucial first step in compliance. In this episode, we break down the complexities of determining which reporting frameworks apply to which entities, from the EU’s Corporate Sustainability Reporting Directive (CSRD) to the International Sustainability Standards Board’s standards. We also explore how companies can navigate reporting requirements across jurisdictions.

In this episode, we discuss:

• 2:20 – Where to begin the reporting process
• 4:29 – Determining if an entity falls under the CSRD requirements
• 28:58 – ISSB adoption and global reporting considerations
• 31:17 – Practical advice for companies navigating reporting developments

ICYMI: Check out the first two episodes of this miniseries, Sustainability now: Navigating shifts in the reporting landscape and Sustainability now: An overview of key reporting frameworks. 

Looking for the latest developments in sustainability reporting? 

• *Refer to our publication on the EU Omnibus proposals to amend certain of the reporting requirements, including some that may be mentioned in this episode (this episode was recorded prior to the release of the Omnibus) 
• Read PwC’s Sustainability reporting guide
• Follow our series and subscribe to our weekly newsletter to stay in the loop.

About our guest
Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]. 

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

In this episode, we continue with an overview of key frameworks, regulatory developments, and resources to leverage on the reporting journey. Host Heather Horn is joined by PwC sustainability reporting specialists and National Office partners, Marcin Olewinski, Diana Stolzfus, and Valerie Wieman to cover the key sustainability reporting frameworks that are expected to have the broadest impact globally as well as interoperability among them. 

In this episode, we discuss:

• 1:45 – Overview of the key sustainability reporting frameworks expected to have the broadest impact globally
• 5:07 – Corporate Sustainability Reporting Directive, or CSRD, as part of a broader EU regulatory regime*
• 14:18 – International Sustainability Standards Board, or ISSB, standards and inoperability with other frameworks
• 29:10 – GHG Protocol for mandatory and voluntary reporting of greenhouse gas emissions now and in the future 
• 36:13 – Voluntary reporting frameworks including:
  • Task Force on Climate-related Financial Disclosures (TCFD)
  • Global Reporting Initiative (GRI)
  • Climate Disclosure Standards Board (CDSB)
  • Task Force on Nature-related Financial Disclosures (TNFD)
• 44:53 – Practical advice on approaching sustainability reporting requirements in an evolving landscape

About our guests
Marcin Olewinski is a PwC Assurance practice partner, with over 20 years of experience bringing valued perspectives and insights to large clients in the energy sector. Additionally, he’s focused extensively within PwC’s National Office on greenhouse gas emissions and sustainability reporting and leads PwC’s global technical working group focused on GHG.

Diana Stoltzfus is a partner in the National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.

Valerie Wieman is a PwC National Office partner with over 30 years of experience. She is one of the firm’s technical experts on sustainability reporting and helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected]

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com
As the headlines continue to highlight, the sustainability reporting landscape is evolving rapidly in the US and beyond. In this episode, we kick off our miniseries on the foundations of sustainability reporting by exploring key US regulatory shifts under the new administration, the role of sustainability initiatives in various US states, and global sustainability reporting trends and updates. We break down what these developments mean for businesses and how to prepare for what's to come.

In this episode, we discuss:

• 02:53 – The fast-changing sustainability reporting landscape
• 05:54 – SEC climate rule updates and expected regulatory shifts
• 22:33 – State sustainability regulations: California and other states
• 27:13 – The potential impact of the upcoming EU’s omnibus regulations
• 30:06 – How to move forward amid uncertainty

Looking for the latest developments in sustainability reporting? 

• Read PwC’s Sustainability reporting guide
• Refer to Acting Chairman Mark Uyeda’s Statement on climate-related disclosure rules
• Follow our series and subscribe to our weekly newsletter to stay in the loop 

About our guest
Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.

About our host
Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].