PwC's accounting podcast

Significant developments are underway at the PCAOB. In this episode, we provide an overview on the latest changes, what’s on the horizon, and the potential implications for preparers. Our guest is Brian Croteau, PwC’s US Chief Auditor, who leads our team that follows all things PCAOB. In this episode, we discuss: 3:14 – A historical perspective on the PCAOB10:01 – Leadership changes at the SEC and PCAOB21:05 – Standard setting projects and priorities33:05 – Standard setting related to emerging technologies (e.g., AI, crypto)37:28 – Potential changes to the PCAOB’s inspection program Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. 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 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 OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.comDid you enjoy this episode? Text us your thoughts and be sure to include the episode name.

As sweeping US tax reform takes effect in 2025, corporate taxpayers face important changes. These include extensions of and modifications to key Tax Cuts & Jobs Act (TCJA) provisions as well as expansion of some Inflation Reduction Act (IRA) incentives while accelerating the phase-out of others. In this episode we provide an overview of the key corporate provisions and dive into the related accounting and financial reporting implications. In this episode, we discuss:03:24 – Extensions and modifications of TCJA domestic tax laws13:42 – Extensions and modifications of TCJA international tax laws24:03 – Changes to IRA energy credits29:30 – Other provisions (e.g., endowments, charitable deductions)33:19 – Global tax implications and Pillar Two39:25 – What’s ahead for corporate tax policy and accounting for income taxes For more information, check out our publications, Accounting for 2025 US tax reform and President Trump signs H.R. 1, the “One Big Beautiful Bill Act”. You can also listen to our related podcast episode, Sustainability now: Facing IRA and clean energy credit uncertainty. Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guests Jennifer Spang is PwC’s National Office income tax accounting leader, specializing in tax accounting under US GAAP and IFRS. She has over 25 years of experience helping companies in a variety of industries navigate complex tax accounting matters. Pat Brown is PwC’s National Tax Office Co-Leader. Prior to joining PwC, he spent 16 years in the private sector, including as the director of tax policy for a Fortune 50 company. Pat has also served in the US Treasury’s Office of Tax Policy as an attorney-advisor and as Associate International Tax Counsel. About our 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 OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.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.comCalifornia’s climate reporting is coming, but many questions remain. In this episode, we cover Assembly Bill (AB) 1305, Senate Bill (SB) 253, and SB 261—what’s required now, what’s still evolving, and how companies can prepare as the California Air Resources Board (CARB) works to finalize draft regulations.In this episode, we discuss:3:05 – Overview of AB 1305, SB 253, and SB 261, including scope and revenue thresholds6:46 – Litigation updates and why deadlines still apply despite challenges10:29 – Defining “doing business in California” and revenue thresholds under CARB proposals18:39 – CARB’s role in enforcement, rulemaking, and timeline for draft regulationsFor more information, check out our In depth on California’s climate laws and Chapter 22 of PwC’s Sustainability reporting guide, Jurisdictional sustainability reporting – California.Be sure to 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 guestsLogan Redlin is a director in PwC’s National Office who is focused on thought leadership strategy and content development related to accounting and financial reporting, sustainability reporting, and standard setting. Prior to this role, Logan spent 15 years in the audit practice, serving both public and private companies with a primary focus on asset management and real estate.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 guest hostGuest 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 OCA’s Professional Practices Group.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

In this episode, we focus on transfers of financial assets. The discussion breaks down the fundamentals of ASC 860, clarifies when a transfer qualifies as a sale versus a secured borrowing, and outlines the key criteria for derecognition.In this episode, we discuss:0:59 – Overview of ASC 860 and the basics of financial asset transfers3:35 – Transactions subject to ASC 8606:56 – Transfer of an entire versus a portion of a financial asset and application of the participating interest guidance11:12 – Control criteria to achieve sale accounting:11:53 – Legal isolation16:38 – Right to pledge or exchange19:42 – Effective control21:50 – Examples of "failed sale" transactionsFor more information, check out our Transfers and servicing of financial assets guide.Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestChip Currie is a partner in PwC’s National Office with 30 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments under both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial services clients on treasury-related matters. About our guest 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 OCA’s Professional Practices Group. Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.comDid 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.comIn this episode, we break down the amendments to the EU Taxonomy Regulation adopted by the European Commission in July 2025. Learn about the changes, what they mean for both financial and non-financial companies, and what may still be on the horizon. Plus, we’ll share practical steps companies can take as they prepare for implementation.In this episode, we discuss:1:10 – Overview of the EU Taxonomy Regulation and potential changes to come7:46 – Changes on the horizon for non-financial services companies17:14 – Major reliefs for financial services companies25:10 – Next steps for the EU Taxonomy Regulation and what companies can do nowLooking for more on the EU Taxonomy regulation and other Omnibus proposals?European Commission adopts revisions related to Taxonomy RegulationA deep dive into the draft Amended ESRSEFRAG’s next step toward revised ESRSNew reliefs for ESRS ‘wave 1’ reportersSustainability now: EU Omnibus in motion – August 2025 updateAbout our guestValerie 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 hostHeather 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 us_podcast@pwc.comDid you enjoy this episode? Text us your thoughts and be sure to include the episode name.

Jennifer Bernardini, a managing director at PwC with over 20 years in federal energy tax incentives, discusses the dramatic shifts brought by the One Big Beautiful Bill Act. She unpacks new compliance requirements and the implications for energy credits, especially for wind and solar projects. The conversation highlights urgent actions companies need to take to maximize opportunities and navigate potential pitfalls amid changing regulations. Tune in for insights on how to thrive in the evolving landscape of renewable energy tax credits.

Ryan Blacker, a director at PwC’s National Office, shares insights on the complexities of identifying the accounting acquirer in business combinations. He discusses how new FASB guidance impacts this crucial determination, especially for variable interest entities. The conversation covers the importance of control in acquisitions, the differences between voting interest entities and variable interest entities, and the implications of misidentifying the acquirer. Ryan also highlights effective dates and transition guidelines for implementing the recent accounting standards.

Diana Stoltzfus, a leading Partner at PwC’s National Office, shares her insights on the latest advancements in EU sustainability regulations. Key topics include the recent amendments to the EU Taxonomy and extended deadlines for EFRAG revisions. She highlights critical changes for 'wave 1' reporters and the implications of the quick fix for compliance. The conversation delves into the complexities of the legislative process and the significance of stakeholder feedback as companies navigate these rapid developments in sustainability reporting.

We continue our revenue accounting podcast miniseries with an episode focused on presentation and disclosure. From balance sheet and income statement classification to required disclosures under ASC 606, we highlight key guidance and address key areas where questions often arise in practice.In this episode, we discuss:1:27 – Income statement presentation of revenue4:16 – Balance sheet presentation considerations related to revenue 9:38 – Overview of revenue disclosure objectives and the five primary disclosure areas:11:27 – Disaggregated revenue18:40 – Performance obligations23:26 – Significant judgments26:31 – Contract balances29:01 – Costs to obtain or fulfill a contractFor more information, chapter 33 of our Financial statement presentation guide. You can also listen to the other episodes in this series: Revenue accounting reset – Recognizing revenue Revenue accounting reset – Variable considerationRevenue accounting reset – Consideration payable to a customerBe sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.About our guestsChristine Moore is a director in PwC’s National Office advising audit and non-audit clients on complex accounting and financial reporting matters. She advises on revenue arrangements for public and private companies across various industries, with a focus on companies in the pharmaceutical and life sciences industry.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 hostGuest 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 OCA’s Professional Practices Group.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.comDid you enjoy this episode? Text us your thoughts and be sure to include the episode name.

We continue our revenue accounting podcast miniseries with a discussion on payments to customers—an area that can raise complex accounting questions, especially when those payments come in the form of equity. We examine when these payments reduce revenue versus when they represent consideration for a distinct good or service. We also highlight updates from the FASB’s new guidance on share-based consideration payable to a customer.In this episode, we discuss:0:56 – Overview of consideration payable to a customer5:41 – When to recognize payments to a customer15:15 – Applying ASC 718 to equity-based payments to a customer23:41 – Key provisions in FASB’s new guidance on equity consideration29:49 – Classifying, measuring, and recognizing equity payments36:41 – Accounting for payments to settle litigation claims or other disputesFor more information, see chapter 4 of our Revenue guide, chapter 7 of our Stock-based compensation guide, and our In brief, FASB issues guidance on share-based consideration payable to a customer. Listen to the other episodes in this series:Revenue accounting reset – Recognizing revenueRevenue accounting reset – Variable consideration Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop. About our guestsKen Stoler is a partner in PwC’s National Office who specializes in financial reporting and plan design issues related to equity compensation arrangements, retirement and healthcare plans, and other benefits. He has helped companies navigate their employee compensation issues during IPOs, spinoffs, acquisitions, and other major transactions or events.Angela Fergason is a partner and standard setting leader in PwC's National Office who specializes in accounting for revenue and employee compensation arrangements. She also consults on a range of financial reporting issues impacting technology companies.About our hostHeather 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 us_podcast@pwc.Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.