PwC's accounting podcast

The European Green Deal is a package of policy initiatives introduced by the European Commission (EC) in December 2019 with objectives to achieve “no net emissions of greenhouse gases by 2050, economic growth decoupled from resource use, and no person and no place left behind.” Many companies are already focused on one aspect of the Green Deal — the Corporate Sustainability Reporting Directive (CSRD). But the CSRD is far from the only EU regulation needing immediate attention. This audio companion details several other pressing and broadly applicable EU regulations that would also be newly applicable — or possibly already applicable — for both EU and non-EU companies. In this episode, podcast host Heather Horn brings you an audio version of our publication covering the EU regulations beyond CSRD. 

In this podcast, we cover: 

• 1:00 - Overview of the EU regulatory landscape 
• 7:01 – EU Taxonomy
• 30:54 – Sustainable finance disclosure regulation
• 38:17 – Carbon Border Adjustment Mechanism
• 44:06 – Foreign Subsidies Regulation
• 49:13 – Corporate Sustainability Due Diligence Directive
• 54:16 – Final thoughts Looking for more information on the CSRD and other EU reporting requirements? 

Check out our publications  European Union regulations beyond CSRD, Worldwide impact of CSRD - are you ready?, and  Take the next step - decide how to report under CSRD  for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership.

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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

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In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process.  

In this episode, guest host Kyle Moffatt, PwC National Office Professional Practice leader, sits down with Stephen Parker, a partner in PwC’s Governance Insights Center, to discuss the ways that finance teams can effectively communicate with those charged with governance and share insights on key areas of focus for audit committees. 

In this episode, you’ll hear discussion of: 

• 2:00 - The challenges facing both management teams and audit committee members, including the breadth of issues raised to audit committees 
• 7:50 - The top issues finance teams should be prepared to discuss with audit committees, including keeping up with the regulatory and compliance landscape, the evolution of ESG discussions, and the intersection of risk management and strategy 
• 17:58 - Preparing to effectively address new SEC cybersecurity disclosure rules 
• 20:05 - Key insights on feedback heard from audit committees and boards of directors as well as an overview of the results of the Center for Audit Quality (CAQ) 2023 Audit Committee Transparency Barometer report 
• 27:10 -Final advice for management teams engaging with those charged with governance  

For more information on key SEC rules, refer to our publications on cybersecurity disclosures and cybersecurity materiality assessments. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series.

Stephen Parker is a partner in PwC’s Governance Insights Center, which strives to strengthen the connection between directors, executive teams, and investors by helping them navigate the evolving governance landscape. With more than 30 years of experience, Stephen has advised boards of directors on a variety of complex financial reporting matters. Stephen’s client service experience includes energy and utility companies, financial services companies, and nonprofits.

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.

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

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In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. 

In this episode, guest host Kyle Moffatt, PwC National Office Professional Practice leader, sits down with PwC National Office leader Tim Carey and PwC National Office partner Kevin Vaughn to discuss rulemaking priorities and provide helpful reminders for public companies navigating SEC developments as they head into year end. 

• 4:08 - The active pace of rulemaking and how that demonstrates the SEC’s priorities 
• 11:00 - Key new and proposed SEC rules: 
  • 11:20 - Insights on the new executive incentive compensation clawback rule and the interaction with navigating accounting errors 
  • 17:45 - Judgments involved in the new cybersecurity disclosure rule and considerations when assessing materiality for evaluating incidents  
  • 26:05 - The impact of new rules on companies preparing for year-end reporting 
  • 28:35 - A status update on pending SEC rules, including the human capital and climate proposals 
• 34:20 - The integral role that transparent disclosures play in investor protection  
• 39:00 - Other year-end SEC reporting reminders, including the impact of MD&A in communicating business performance and challenges, insights on pay versus performance disclosures, and reminders on non-GAAP disclosures 
• 48:20 - Final advice for companies preparing for year-end reporting, including takeaways on new FASB standards on segment reporting, crypto assets, and income taxes 

For more information on key SEC rules, refer to our publications on clawbacks, cybersecurity disclosures, cybersecurity materiality assessments, and the vacated SEC share repurchase rule. Also listen to our 2023 SEC comment letter podcast series for more insights related to SEC reporting. 

Tim Carey is PwC’s National Office leader, with 30+ years of experience in complex accounting, tax, and reporting issues. Tim has led large-scale teams on a wide range of projects including financial statement audits, transaction structuring, financial due diligence, and post-merger integration.

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.

Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.

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In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. 

To kick off the series, guest host Valerie Wieman, PwC National Office partner, welcomes three of our deputy chief accountants to discuss what is top of mind for each of them this year end. 

In this episode, you will hear discussion of: 

• 3:41 - Contingent consideration in a business combination, including the impact on the statement of cash flows 
• 6:20 - Equity method investments and recording basis differences  
• 10:08 - Disposing of a business, including when to apply the held-for-sale model 
• 15:34 - Revenue contract modifications 
• 18:40 - Avoiding common pitfalls with debt restructurings in a rising interest rate environment 
• 23:55 - Fair value measurement after compensation and incentive arrangement modifications and the impact of the SEC’s new clawback rule 
• 35:39 - Updates on segment reporting  
• 37:31 - Impact of the current macroeconomic environment on impairment analyses 
• 39:58 - Tax implications of nonrecurring transactions and accounting for Inflation Reduction Act (IRA) credits 
• 47:20 - Cash flow presentation of other financing sources, including revolving debt agreements and supplier finance programs 

For more information on presentation and disclosure requirements, read our Financial statement presentation  guide, and for further insights on the latest accounting, financial reporting and regulatory updates, read our Q4 2023 quarter close. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series, and for disclosure reminders on supplier finance programs, listen to our previous podcast. 

Bret Dooley is a Deputy Chief Accountant in PwC’s National Office and the financial instruments accounting leader. He has over 25 years of experience specializing in the financial services, banking, and capital markets industries. Bret focuses on emerging financial reporting issues relating to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.

Pat Durbin is a Deputy Chief Accountant in PwC’s National Office. 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.

Beth Paul is a Deputy Chief Accountant in PwC’s National Office responsible for a team of consultants that specialize in business combinations and related areas, such as consolidations, disposals, impairments, and segment reporting.

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

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The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation.  

Continuing our CSRD series, this week we dive into a core component of reporting under the directive: the value chain. The CSRD will extend reporting to a company’s direct and indirect business relationships and activities across its value chain, which is expected to be one of the more challenging areas of compliance. In this episode, host Heather Horn is joined by PwC sustainability director Luca Bonaccorsi to discuss the concept of value chain reporting and what companies can do to navigate this “quantum leap” in reporting. 

In this episode, you’ll hear: 

• 3:00 - What the value chain is, and its importance in the context of CSRD and sustainability reporting 
• 6:27 – The importance of upstream and downstream (i.e., across the whole product life cycle from manufacturing to end use) value chain considerations 
• 13:27 - How to assess the relevance of information from the different levels of the value chain 
• 18:28 - The role of materiality in identifying and disclosing value chain risks 
• 21:19 - Where to start in gathering information for impact reporting 
• 23:59 – Updates on implementation guidance from the European Financial Reporting Advisory Group (EFRAG) 
• 29:07 - Key benefits companies can gain from value chain reporting 
• 32:42 – Actions companies can take to improve the quality of value chain data during the CSRD transitional provision period 
• 40:34 - Best practices to navigate uncertainty when preparing for final effectiveness of reporting 

Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership.

Luca Bonaccorsi is a sustainability director at PwC based in Belgium. Prior to joining the firm, he previously served in ESG and sustainable finance roles, and had career experience in investment banking and investigative journalism. He is a co-author of the EU Taxonomy technical criteria, and serves as a member of the Sustainability Reporting Technical Expert Group (SRT) at EFRAG.

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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

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In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance.

This week, guest host Kevin Vaughn, a partner in PwC’s National Office, sat down with fellow PwC National Office partner Jay Seliber to discuss the latest trends in SEC comment letters on segment reporting and share insights on the FASB’s new segment reporting standard. 

In this episode, you’ll hear:

• 2:05 - An overview of the trends in comment letters related to segment reporting, including discussion of the identification of operating segments
• 6:37 - A discussion of aggregation of operating segments, including the significance of quantitative and qualitative characteristics analysis
• 11:57 - Insights on comments related to multiple measures of segment profit or loss
• 13:35 - A breakdown of new guidance under ASU 2023-07 Segment Reporting, including:
  • 17:53 - Disclosure requirements of significant segment expenses
  • 22:06 – Reporting multiple measures of segment profit or loss and the intersection with guidance on non-GAAP measures 
  • 30:20 - Considerations for single reportable segment entities
  • 34:00 - Information regularly provided to the chief operating decision maker (CODM)
  • 40:31 - Effective date and retrospective application of the new standard
• 42:09 - What’s ahead for segment reporting and best practices for enhancing disclosures

Want to learn more? Check out our analysis of SEC comments on segment reporting. For further information on segment disclosures read our publication FASB updates segments guidance and our Financial statement presentation guide. Also follow this podcast on your favorite podcast app for more episodes in this comment letter series.

Jay Seliber is a partner in PwC’s National Office. He leverages over 30 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, revenue recognition, stock compensation, earnings per share, employee benefits, restructurings, impairments, and financing transactions. Jay is presently PwC's representative on the FASB's Emerging Issues Task Force.

Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.

Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership.

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

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In the fourth quarter 2023 edition of The quarter close, we provide year-end reminders on perennial favorites, including SEC reporting, income taxes, and the statement of cash flows. We also provide the latest on sustainability reporting and the FASB’s standard-setting activities. Read or listen to The quarter close for these and other relevant accounting and reporting topics you should consider as 2023 comes to a close.

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

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation.  

Continuing our CSRD series, in this episode we discuss how the investor community views and benchmarks sustainability requirements. This week, host Heather Horn is joined by Claire Berthier, CEO of French asset management firm Trusteam Finance, to share her viewpoint on how companies can align their sustainability reporting and corporate strategy to meet investor needs.  

In this episode, you’ll hear: 

• 3:35 - Background on why investors look for enhanced sustainability disclosures 
• 10:11 - The explanation of strategy, mission, and other key initiatives in sustainability disclosures  
• 19:52 - The importance of communications among investors, companies, and other stakeholders 
• 32:22 - How the EU’s Green Taxonomy regulation data points support certain investor needs 
• 37:13 - Converting ESG risk to opportunity 
• 40:05 - Recommendations for companies that are early in their sustainability reporting journeys 
• 45:22 - Key messages and themes that Claire believes investors want to hear from companies in their sustainability reporting 

Looking for more information on the CSRD and reporting requirements? Check out our publications Worldwide impact of CSRD - are you ready? and Take the next step - decide how to report under CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight miniseries, and subscribe to our weekly newsletter to get all of our thought leadership. 

Claire Berthier is the CEO of Trusteam Finance, an investment and asset management firm based in Paris, France. With a background in M&A investment banking and private equity, she currently focuses on responsible investing and has co-founded a social impact start-up. She regularly shares her financial and non-financial ESG analysis expertise with fellow investors. 

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership.  

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

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In each episode of our 2023 SEC comment letter trends series, our guests bring you the latest themes in comment letters from the SEC’s Division of Corporation Finance. 

This week, host Heather Horn is joined by PwC National Office partner Ryan Spencer to discuss the continued focus in SEC comment letters on Management’s Discussion and Analysis (MD&A) and share insights for preparers on how to avoid the common pitfalls.

In this episode, you’ll hear: 

• 0:52 - An overview of the trends in comment letters related to MD&A, including sector-specific insights 
• 3:59 - A refresher on MD&A reporting requirements and a deep dive into comment letter themes, including: 
  • 5:04 - Insights on the concentration of comments related to disclosures on the results of operations and the need for forward-looking discussions 
  • 8:05 - The focus on performance metrics and their connection to corporate strategy 
  • 10:56 - The rise in comments related to management’s analysis and quantification of material fluctuations 
• 12:45 - Why preparers need to evaluate current events and macroeconomic conditions 
• 14:45 - Discussion of the focus on liquidity and capital resources disclosures, including near-term and long-term considerations 
• 16:48 - Key reminders for critical accounting estimates and sensitivity disclosures 
• 21:39 - Best practices for enhancing MD&A disclosures 

Want to learn more? Check out our analysis of SEC comments on MD&A, and follow this podcast on your favorite podcast app for more episodes in this comment letter series.  

Ryan Spencer is a partner at PwC's National Office specializing in SEC financial reporting. He has over 20 years of experience serving clients and is a frequent contributor to PwC’s publications and communications.

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Follow PwC’s accounting podcast on your favorite podcast app for future episodes in this SEC comment letter series, and subscribe to our weekly newsletter to get all of our thought leadership.  

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.

The European Union (EU) has ushered in a new era of sustainability reporting, as the Corporate Sustainability Reporting Directive (CSRD) is now effective. With impacts to both EU and non-EU headquartered companies, now is the time to understand the reporting requirements of this sweeping new regulation. 

This week we zoom out to review the broader landscape of EU regulations. Introduced as a result of the European Green Deal strategic policy initiative, these regulations will have impacts on topics from carbon pricing, to foreign subsidy disclosures, to corporate governance, and more. In this episode, Heather Horn is joined by PwC Netherlands partners Niels Muller and Linda Thonen to review these regulations, and how they will impact entities that are in scope. 

In this episode, you’ll hear:

• 4:05 - Background on the European Green Deal
• 6:42 - The Carbon Border Adjustment Mechanism (CBAM) and its impact to carbon pricing on EU imports
• 16:25 - The Foreign Subsidies Regulation (FSR) and its interaction with the Inflation Reduction Act (IRA)
• 23:29 - How corporate strategy and investment decisions are changing due to green regulations 
• 34:53 - Legal risk management, and the role of directors and those charged with governance 
• 41:15 - How CSRD scoping and reporting decisions impact compliance with other regulations
• 45:15 - The proposed Corporate Sustainability Due Diligence Directive (CSDDD) and its far-reaching requirements
• 47:16 - What companies can do today to prepare for upcoming regulations

Looking for more information on these EU regulations and their reporting requirements? Check out our publication European Union regulations beyond CSRD for further details. Additionally, follow this podcast on your favorite podcast app for future episodes in this CSRD spotlight series, and subscribe to our weekly newsletter to get all of our thought leadership.

Niels Muller is a PwC partner based in the Netherlands specializing in energy transitions and sustainable energy. In this role he advises institutional investors, financial institutions, and utility companies as well as governments and non-governmental organizations on sustainability and tax projects.

Linda Thonen is a PwC legal services partner based in the Netherlands specializing in corporate and sustainability matters. With over 15 years as a legal practitioner, Linda’s experience has centered around corporate law, corporate governance, with a focus on M&A and cross-border transactions.

Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

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.