PwC's accounting podcast

AI infrastructure investment is accelerating as growing demand for data centers drives the need for expanded power generation, construction capacity, and critical equipment. We discuss the challenges companies face in bringing these projects online, including power availability, supply chain and workforce constraints, permitting, financing, and community considerations. We also explore how companies are adapting through new partnerships and delivery models and what these developments mean for business strategy, capital investment, and risk management.

Key topics and timestamps

• 3:40 — AI infrastructure investment and growing demand
• 7:18 — Power and supply chain constraints
• 14:46 — What it takes to build data centers
• 19:45 — New partnerships and delivery models
• 32:16 — Site selection and workforce challenges
• 39:39 — Community impacts and considerations
• 44:41 — Financing and investment risks
• 51:39 — What infrastructure constraints mean for businesses

Additional resources

For more, explore these related resources:

• The full-stack data center orchestrator — A new control layer for the AI infrastructure boom
• Global Data Centre Outlook 2026–50 — Where $31.6 trillion of capex flows in the era-defining AI build-out
• Infrastructure resilience amid geopolitical shifts and AI growth (Podcast)

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About our guests

Matt Cardamone is a Principal with PwC Advisory and is part of the Capital Project & Infrastructure practice. He is a leader in assessing, designing, and implementation of delivery capabilities in capital intensive organizations, including leading a sector focus in data center delivery. He has worked across industries with clients focused on construction, capital project management, and operations. He has over 20 years of industry and consulting experience and advises companies on improving business objectives and financials. Prior to joining PwC, Matt worked as a construction manager on large scale construction projects.  and implementation of delivery capabilities in capital intensive organizations, including leading a sector focus in data center delivery. He has worked across industries with clients focused on construction, capital project management, and operations. He has over 20 years of industry and consulting experience and advises companies on improving business objectives and financials. Prior to joining PwC, Matt worked as a construction manager on large scale construction projects. 

Hugh Le is a Principal with PwC Advisory and is a part of the Energy and Utilities Strategy practice. He supports his clients in business transformations including business model reinvention, capital investment planning, and operating model design. Hugh has served clients across multiple sectors including power and utilities, energy, renewable development, digital infrastructure, and industrials. He has been serving the data center sector working with digital infrastructure, energy, and utility clients in solving power and energy related needs including grid interconnection, power market forecasting, and accelerating time-to-power solutions.

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

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New leadership and strategic priorities are shaping the PCAOB's approach to audit oversight. We discuss updates to audit firm quality control requirements, developments in standard setting and AI in auditing, and efforts to modernize inspections—and what these changes could mean for companies, audit committees, and auditors.

• 5:50 – New PCAOB leadership and priorities
• 14:04 – PCAOB strategy and stakeholder engagement
• 17:30 – Standard setting—independence, fraud, and NOCLAR
• 22:48 – AI and technology in auditing
• 27:35 – Modernizing PCAOB inspections

Additional resources

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About our guest

Brian Croteau is the US Chief Auditor. He oversees the establishment and maintenance of PwC’s audit policies and practices, leads efforts to directly support PwC’s audit quality objectives, and plays a key role in the monitoring and assessment of audit quality. He also leads the firm’s efforts related to its relationship with the PCAOB, including supporting all aspects of the PCAOB’s inspection process. Brian currently serves as a member of the PCAOB’s Standards and Emerging Issues Advisory Group (SEIAG) and the SEIAG’s Emerging Issues in Auditing subcommittee. Prior to rejoining PwC, he served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC where he played a key role in the SEC’s oversight of the activities of the PCAOB, managed the resolution of auditor independence issues and ethical matters, and monitored audit and independence standard setting internationally.

About our guest host

Diana Stoltzfus is a partner in PwC’s 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. She is also one of the firm’s technical experts on sustainability reporting. Prior to rejoining PwC, she served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC.

Transcripts

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How are companies putting sustainability into practice to create business value? Nicole Vadori, Head of Enterprise Sustainability at TD Bank Group, shares her perspectives and experiences on integrating sustainability into business priorities, building stakeholder trust, and identifying risks and opportunities. Drawing on examples from her experience, we explore the role of sustainable finance, double materiality assessments, and sustainability capabilities in addressing emerging issues such as responsible AI.

Key topics and timestamps

• 1:27 — From corporate values to business value
• 6:11 — Building stakeholder trust through responsible business practices
• 9:30 — Aligning sustainability priorities with business strategy
• 12:03 — Using double materiality to identify risks and opportunities
• 14:12 — Putting sustainable finance into practice
• 167:11 — Applying sustainability capabilities to emerging risks, including responsible AI

Additional resources

Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. 

About our guest

Nicole Vadori is Vice President and Head of Enterprise Sustainability at TD Bank Group, where she focuses on integrating sustainability into the business to support growth and resilience. As a Professional Engineer, Nicole’s experience spans environmental strategy, sustainable finance, climate-related risk, and the transition to a lower-carbon economy. 

About our guest host

Diana Stoltzfus is a partner in PwC’s 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. She is also one of the firm’s technical experts on sustainability reporting. 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 OCA’s Professional Practices Group.

Transcripts

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While relatively few new accounting standards have been issued this year, the FASB has been busy, with several proposals expected before year end and other projects underway. We discuss key projects on the FASB's agenda, potential changes to US GAAP, and why companies should be paying attention during the development phase. We also explore how companies can get involved and provide feedback during the standard setting process.

Key topics and timestamps

• 2:24 – Cash equivalents, stablecoins, and disclosures
• 5:53 – Equity-linked instrument classification
• 10:58 – Equity method of accounting
• 15:52 – Debt modifications and extinguishments
• 22:06 – Goodwill impairment testing
• 25:21 – Fair value and contractual sale restrictions
• 26:00 – Transferable tax credits
• 27:34 – Business combinations and asset acquisitions
• 30:42 – Potential changes to the statement of cash flows
• 32:06 – Data infrastructure investments
• 33:16 – How companies can engage in FASB standard setting

Additional resources

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About our guests

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. In his role, Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters. 

Jay Seliber is a partner in PwC’s National office. He leverages over 35 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, consolidation, divestitures, revenue recognition, investments, restructurings, impairments, stock compensation, earnings per share, and financing transactions.

About our guest host

Angela Fergason is PwC’s standard setting leader, managing PwC’s strategy for engaging in accounting standard setting activities. A partner in PwC’s National Office, Angela is an experienced consultant on technical accounting and financial reporting matters, specializing in revenue recognition, employee compensation, and emerging issues impacting the technology industry. 

Transcripts

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Sustainability strategies are evolving as companies focus on protecting margins, building resilience, and identifying opportunities for growth. We discuss how companies can drive business value by embedding sustainability into business strategy, connecting sustainability initiatives to financial outcomes, and using data to guide business decisions.

Key topics and timestamps

• 1:31 — Embedding sustainability into business strategy
• 10:06 — Quantifying the financial impacts of sustainability risks and opportunities
• 14:19 — Climate risk, supply chain resilience, and business strategy
• 19:38 — Using sustainability information to inform business decisions
• 22:32 — AI’s sustainability impacts and responsible use

For more on sustainability and business strategy, check out our Sustainability News Brief.

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About our guest

Lynne Baber is PwC’s Global Sustainability Leader. She works with the PwC Global Sustainability Leadership Team to deliver PwC’s ambition to be the leading business adviser on sustainability issues, grounded in PwC’s client-centric, business-first approach. She provides support and advice to the PwC network on how to integrate sustainability factors with the broader business to both protect and create value. As well as this strategic advisory role, Lynne is PwC's Global Corporate Sustainability Leader, advancing PwC's own sustainability actions and commitments.

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

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Software and software-as-a-service (SaaS) companies are navigating accounting questions as AI technologies become part of their products and development processes. We discuss how companies can apply existing accounting guidance to new revenue recognition questions involving software licenses, SaaS, AI-enabled services, and commercial arrangements. Our guests also discuss capitalizing and classifying software development costs.  

Key topics and timestamps

• 1:47 — Software licenses versus software-as-a-service
• 8:36 — AI-enabled services and revenue recognition
• 15:37 — Reseller arrangements and principal versus agent considerations
• 19:50 — Customer-vendor arrangements and consideration payable to a customer
• 23:56 — Minimum spend commitments and performance obligations
• 28:00 — AI costs and software capitalization

Additional resources

For more information see our publications:

• Accounting for the cost of AI tools used in software development
• Revenue recognition: A Q&A guide for software and SaaS entities
• Software costs guide

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About our guests

Angela Fergason is a partner in PwC's National Office. Her areas of specialty include revenue recognition, accounting for employee compensation arrangements, and other accounting and reporting issues impacting the technology industry. Angela is also PwC's standard setting leader, managing PwC's participation in the accounting standard setting process. 

Mike Coleman is a partner in PwC's National Office who specializes in accounting for revenue and software arrangements and has served technology clients for much of his career. In addition, Mike has represented the firm on the AICPA Software Task Force.

About our guest host

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.

Transcripts

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Geopolitical shifts are reshaping infrastructure decisions as companies navigate growing demand for AI and data centers, energy constraints, global supply chain dependencies, and climate-related pressures. We discuss how these interconnected forces are creating strategic vulnerabilities and critical dependencies—and how companies can build resilience while identifying opportunities in an evolving global environment.

Key topics and timestamps

• 1:45 — Geopolitics and infrastructure strategy 
• 6:29 — AI, data centers, and global dependencies 
• 11:12 — Power grid challenges and energy demand 
• 17:59 — Identifying strategic vulnerabilities 
• 22:47 — Balancing sustainability and energy security 
• 29:16 — A framework for board-level risk oversight
• 34:04 — Turning geopolitical risk into opportunity

For more details on geopolitics and infrastructure, check out these other publications:

• Climate Week 2026 recap: Key takeaways from the conversations happening on the ground
• Managing geopolitical risk in a more turbulent world — 7 things to consider

Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop for the latest thought leadership on sustainability standards. 

About our guest

Craig Stronberg is the Senior Director of PwC Intelligence. He works for PwC leaders, enabling decision confidence about how geopolitics impacts business strategy and investment. He leads the geopolitical capability for PwC Intelligence, spearheading a team of analysts that provide global intelligence to key stakeholders. In addition, he is the primary geopolitical risk advisor to PwC leadership and the PwC board of directors.

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

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Finance and management teams play an important role in helping audit committees stay informed, focused, and prepared in a fast-changing business environment. We discuss how management can better support audit committee oversight through timely information, thoughtful scenario analysis, effective pre-read materials, and more forward-looking discussions—including as boards consider evolving areas such as AI, cybersecurity, geopolitical uncertainty, and regulatory change.

Key topics and timestamps

• 2:54 — Audit committee priorities
• 5:15 — Scenario planning and analysis 
• 7:01 — Effective pre-reads and meeting materials 
• 10:10 — AI oversight and governance 
• 13:15 — Key risks on the agenda 
• 17:48 — Board priorities for what’s ahead

Additional Resources

For more on supporting effective audit committee oversight, check out these PwC publications:

• Board oversight of AI transformation
• Overseeing the external auditors
• Financial reporting oversight

For more conversations like this one, join our Quarterly accounting webcast. Each quarter we bring together PwC specialists and prominent external guests to share diverse perspectives on the latest developments in accounting and reporting, along with timely insights to help you prepare for the reporting cycle ahead.

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About our guest

Laura Hay serves on the boards of MetLife [NYSE: MET], Everest Group [NYSE: EG], and Hippo Holdings [NYSE: HIPO]. She chairs the audit committees of MetLife and Everest and contributes to Audit, Risk & Finance, Tech/Cyber and Nominating & Governance Committees between the three boards. She previously served on the board of KPMG US, chairing its Compensation/Pension and Nominating Committees and contributing to Risk and Audit/Finance.

About our guest host

Kathy Nieland is a partner in PwC’s Governance Insights Center, where she leads governance practices for directors serving on audit committees. She has over 30 years of experience in providing assurance and advisory services to PwC clients. Her current roles also include oversight of PwC’s largest global industrial and services audit clients. Client service experience includes serving Global SEC registrants in the chemicals, manufacturing, engineering and construction, energy services, clean technology, metals, retail, and services industries.  

Transcripts

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Interim income tax accounting can be complex, but it starts with a foundational concept: estimating the annual effective tax rate (AETR). In this episode, we continue our back-to-basics series with a look at the AETR calculation, including ordinary income, discrete items, when the usual AETR approach may not apply, and interim disclosures.

Key topics and timestamps

• 1:11 — Calculating the AETR and interim tax provision
• 3:54 — Forecasting ordinary income and tax expense
• 6:31 — Defining ordinary income
• 8:36 — Identifying discrete items 
• 15:10 — AETR and discrete impacts
• 19:06 — Exceptions to the AETR approach
• 24:34 — Interim tax disclosures

Additional resources

This episode is part of our Back to basics series in[M(1] which we revisit core accounting topics. For more information on interim income tax provisions, see Chapter 16 of PwC’s Income taxes guide. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay informed.

About our guests

Keith Rymer is a partner in PwC’s National Office, with over 30 years of experience having advised clients in various industries on federal, international, and multi-state tax complexities that he leverages to navigate complex tax accounting matters. 

Kassie Bauman is a managing director in PwC’s National Office, with over 25 years of experience in both auditing and consulting on complex accounting matters. She is a subject matter specialist in accounting for income taxes under both US GAAP and IFRS.

About our guest host

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.

Transcripts

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Tariffs levied by the US government continue to evolve, creating significant implications for finance and accounting teams, from accounting for tariff refunds and staying ahead of rising enforcement activity to financial reporting and internal controls. This episode explores recent tariff developments and what a finance team should have on its radar ahead of year-end reporting season.

Key topics and timestamps

• 1:32 — Why tariffs matter to finance teams
• 3:56 — IEEPA tariff refunds
• 6:32 — Accounting for tariff refunds
• 14:22 — Sections 232 and 301
• 19:43 — How tariff stacking works
• 26:32 — US-Canada trade developments
• 30:55 — Heightened tariff enforcement
• 37:13 — Year-end reporting

Additional resources

For more, read our in depth, Accounting implications of tariffs. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay informed.

About our guest

Sharon Martin is a principal with PwC’s Customs and International Trade practice with extensive experience advising clients on both trade compliance and strategic planning related projects. Sharon has worked with clients in a variety of industries providing strategic advice on customs advisory, risk mitigation, and duty planning.

About our guest host

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.

Transcripts

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