Search within this section
Select a section below and enter your search term, or to search all click Weekly newsletter
Favorited Content
PwC's accounting weekly news: October 6, 2023
Publication date: 06 Oct 2023
us Newsletter
New research shows that about 55% of global GDP is highly or moderately dependent on nature. So how should companies communicate with investors about how they interact with nature? This week, along with other new content, we share a podcast on a new framework for reporting on nature-related disclosures released by the Taskforce on Nature-related Financial Disclosures, or TNFD.
From inflation to labor markets to monetary policy, the economy has faced some headwinds in 2023. This week, podcast host Heather Horn is joined by Chris Benko, PwC Intelligence chief economist, for an economic update in which Chris shares his advice for finance teams on where we go from here.
“Companies should start now on the process to report nature-related disclosure given the complexity of the information needed and the acceleration of climate change and other climate reporting frameworks. For nature, there will not be the luxury of waiting many years before thinking about reporting.” - Daniel O'Brien, PwC Canada’s Sustainable Business Solutions leader
The Taskforce on Nature-related Financial Disclosures (TNFD) released its final disclosure recommendations for nature-related dependencies, impacts, risks and opportunities in September. This week, host Heather Horn was joined by Daniel O’Brien, PwC Canada’s Sustainable Business Solutions leader and TNFD member, to discuss what companies should do now to prepare to make effective nature-related disclosures.
Starting in 2024, reporters under IFRS® Accounting Standards will be required to provide additional disclosures about supplier finance arrangements to aid investor transparency into their effects on a company's liabilities, cash flows, and risk exposure. Read our summary.
Also check out our guidance on presentation and disclosure of these arrangements under US GAAP in the Financial statement presentation guide.
Global minimum tax rules for multinationals come with complexities — and the accounting is no exception. This publication explains the issue and who is impacted, along with the key IFRS accounting considerations and information about the temporary relief the IASB has given IFRS® Accounting Standards reporters for deferred tax calculations.
Preparing for or presenting at an audit committee meeting? Our quarterly audit committee newsletter offers our take on what should be top of mind.
Findings from our latest Global Digital Trust Insights survey
Our largest cybersecurity survey is back with insights on new challenges, budgeting, C-suite collaboration, regulatory developments, and more. Read our report and join us on October 25 for a CPE-eligible webcast.
In the PwC Pulse podcast, Maria Moats, PwC Governance Insights Center Leader, is joined by Barb Loughran, a board director and retired PwC partner, for a discussion of women's representation on boards and what it means to be board-ready.
PwC’s CPE-eligible webcasts
Planning ahead for Q4 reporting? Mark your calendars.
- Q4 2023 Quarterly sustainability webcast—11/9 or 11/15
With sustainability reporting mandatory in a growing number of countries, join our sustainability specialists for discussion of the latest ESG accounting and reporting developments in the US and abroad. Register to earn up to 1.5 CPE credits. - Q4 2023 Quarterly accounting webcast—12/7, 12/13, or 12/19
Join our quarterly webcast to hear key accounting and reporting reminders as companies close out the year. Register to earn up to 1.5 CPE credits.
Check out our full list of CPE-eligible webcasts on our Accounting and reporting webcast page.
Recent releases
Here’s a summary of our top content issued or updated in September:
- The quarter close - third quarter 2023: Read or listen
- California's not waiting for the SEC's climate disclosure rules: Read or listen
- Updated: SEC adopts executive incentive compensation clawback rules
- FASB proposal on the disaggregation of income statement expenses: Read or listen
- Getting ready for the SEC’s new cybersecurity disclosure rules (podcast)
Here’s what we’re following
The PCAOB adopted a final standard relating to the auditor's use of confirmation. The new standard is designed to (1) enhance the quality of audits when confirmation is used by the auditor and (2) reflect changes in communication and business practices since issuance of the original standard on confirmations. Subject to approval by the SEC, the new standard will be effective for audits of financial statements for fiscal years ending on or after June 15, 2025.
FASB seeks feedback through public roundtables
The FASB will host two upcoming public roundtables.
- Post-implementation review of the revenue standard - November 10
- Proposal to enhance disaggregation of closures income statement expenses (DISE) project – December 13
Reminders and key dates
|
October 18 or November 7
| 2023 Current Developments for Insurance Companies webcast (CPE eligible)
Register here |
October 25
| The C-Suite playbook: Putting security at the epicenter of innovation webcast (CPE eligible)
Register here |
October 30
| Deadline to comment on the FASB’s Proposed Accounting Standards Update, Disaggregation of Income Statement Expenses
|
November 1
| Harnessing AI for Trusted Business Results webcast (CPE eligible)
Register here |
November 3
| Deadline to comment on the PCAOB’s proposal, Responsibility Not to Knowingly or Recklessly Contribute to Violations
|
November 9 or 15
| Q4 2023 Quarterly sustainability webcast (CPE eligible)
Register here |
November 10
| Public Roundtable on FASB’s Post-Implementation Review of Topic 606, Revenue from Contracts with Customers.
Register here |
December 7, 13, or 19
| Q4 2023 Quarterly accounting webcast (CPE eligible)
Register here |
December 13
| Public Roundtable on FASB’s proposed Accounting Standards Update, Disaggregation of Income Statement Expenses
Register here |
January 5
| Deadline to comment on GASB’s Proposed Statement, Disclosure and Classification of Certain Capital Assets
|
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.
Link copied
