In each episode of our Year-end toolkit series, our guests share insights on key areas of the year-end accounting and reporting process. The conversations are relevant for all finance teams, even if it’s not year-end close time. And it’s relevant even for those not engaged in the company’s closing process – the episodes have something for everyone.

In this next episode of our series, PwC’s US Assurance Quality Management leader, Michael Mullen, shares insights and key reminders on navigating materiality judgments.

In this episode, we discuss:  

• 4:51 – A refresher on the framework for assessing materiality and errors in financial statements
• 20:44 – Recent SEC statements and areas of focus relating to materiality and errors
• 31:43 – Considerations related to fraud and illegal acts 
• 37:47 – Final advice and key takeaways in navigating materiality assessments 

Check out our other episodes in this miniseries:

• Year-end toolkit: Year in review from the corner office
• Year-end toolkit: Accounting and reporting reminders for 2025
• Year-end toolkit: Audit reminders for preparers
• Year-end toolkit: Tax accounting and reporting reminders for 2025

Additionally, follow this podcast on your favorite podcast app for more episodes.

Michael Mullen is PwC’s US Assurance Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 35 years of client service experience, Michael has led numerous global client engagements. 

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]. 

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