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PwC's accounting weekly news: June 14, 2024: Identifying a VIE, CSRD resources, top AI trends, CPE-eligible webcasts, and more
Publication date: 14 Jun 2024
us Newsletter
Happy Father’s Day from our newsletter team to all of the dads out there. Ahead of this special weekend, we bring you the latest on CSRD — the EU sustainability reporting directive that applies to many multinational companies, including a new podcast episode on implementation and the results of our global survey.
We continue our miniseries on consolidation accounting with the evaluation of variable interests and the characteristics of a variable interest entity (VIE).
For more information on this topic, read chapters 3 and 4 of our Consolidation guide.
The clock is ticking as companies navigate the implementation of the Corporate Sustainability Reporting Directive (CSRD). This podcast explores many phases of the process, including scoping, the double materiality assessment, the gap assessment, and remediation.
"The number one key to success is really trying to think about this holistically. I think that there are a lot of efficiencies to be gained in preparing for all of the sustainability regulatory reporting that's coming."
- Emily Kirsch, PwC director
PwC Global CSRD survey report and webcast
Almost two-thirds of companies say they are very or extremely confident that they will be ready to report under the CSRD, but still cite obstacles to implementation, according to PwC’s inaugural 2024 Global CSRD Survey of more than 500 senior executives and business professionals. Read our report and register for the June 19 (geared toward the Asia-Pacific region) or June 20 (geared toward the Americas) session of the webcast that will explore ways to leverage the mandate to bring sustainability into the heart of business strategy and uncover opportunities for value creation.
PwC comments on PCAOB proposals on firm reporting and firm and engagement metrics
PwC responds to PCAOB proposal on firm reporting
The proposal raises fundamental questions of whether the PCAOB can or should require certain reporting outside of its inspection authority.
The proposal raises fundamental questions of whether the PCAOB can or should require certain reporting outside of its inspection authority.
PwC responds to PCAOB proposal on firm and engagement metrics
We share views on the PCAOB firm and engagement metrics proposal, recommending alternatives that we believe would better serve audit committees and others.
We share views on the PCAOB firm and engagement metrics proposal, recommending alternatives that we believe would better serve audit committees and others.
For more on the proposals, read PwC’s summary.
Register for PwC webcasts
Quarterly accounting webcast (up to 1.5 CPE credits) – June 18 or June 27
If you missed our first session this week, there are still two more chances to join our National Office specialists for a discussion of key accounting and reporting reminders as companies close out Q2 2024. Our keynote speaker, Dan Ives, a prominent investor and managing director at Wedbush Securities, shares his insights for finance teams.
If you missed our first session this week, there are still two more chances to join our National Office specialists for a discussion of key accounting and reporting reminders as companies close out Q2 2024. Our keynote speaker, Dan Ives, a prominent investor and managing director at Wedbush Securities, shares his insights for finance teams.
Industry-specific webcasts – June 20
Join us for a webcast specific to your industry that builds on the content in our core quarterly accounting webcast.
Join us for a webcast specific to your industry that builds on the content in our core quarterly accounting webcast.
- Energy, utilities and resources webcast (up to 1.5 CPE credits)
- Health industries webcast (up to 1.5 CPE credits)
For more CPE-eligible webcasts from our National Office, visit the Accounting and reporting webcasts page on Viewpoint.
This episode of PwC Pulse podcast discusses the top AI trends for businesses – highlighting the need for smart AI choices, responsible AI practices, and upskilling leaders to harness its full potential.
58% of CFOs are spending more time on tech investment and implementation compared to last year. In the current business environment, companies need to transform — repeatedly and holistically — or risk falling behind. Find out why in our latest Pulse survey.
Here’s what we’re following
On June 10, the Global Reporting Initiative (GRI) released a proposal to update its labor-related standards. The proposed standards aim to help companies in reporting of labor-related issues and improve transparency on workplace labor and human rights. Comments are due by October 4.
The PCAOB issued a staff Spotlight summarizing the PCAOB’s high-level observations from conversations held with audit committee chairs during the 2023 PCAOB inspections program. The PCAOB shares key takeaways on topics including audit committee chair perspectives on economic and geopolitical risks, the sufficiency of discussions with auditors related to Critical Audit Matters, and audit committee assessments of auditor quality control systems. The Spotlight also provides links to PCAOB resources for audit committees.
Key dates
|
June 18 or 27
| Q2 2024 Quarterly accounting webcast (CPE eligible)
Register here |
June 19
| Q2 2024 Tax accounting webcast (CPE eligible)
Register here |
June 20
| Q2 2024 Energy, utilities and resources (sector-specific) webcast (CPE eligible)
Register here |
June 20
| Q2 2024 Health industries (sector-specific) webcast (CPE eligible)
Register here |
July 15
| Deadline to comment on International Accounting Standards Board Exposure Draft, Business Combinations – Disclosures, Goodwill, and Impairment
|
August 8 or 14
| Q3 2024 Quarterly sustainability webcast (CPE eligible)
Register here |
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PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
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