year end toolkit

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

This week, host Heather Horn is joined by Pete Driscoll, PwC National Office partner, to break down the SEC’s 2023 enforcement action results, which set a record with 784 enforcement actions filed in 2023. Pete unpacks the themes and trends within those enforcement actions and shares advice on what companies can do to avoid some common pitfalls. 

Listener note: Although we summarize key themes from allegations as described by SEC orders and complaints, it is important to note that companies have neither admitted nor denied wrongdoing in these cases.

In this episode, you will hear:

• 2:15 - Key themes in the SEC's 2023 enforcement action results, including a discussion of the SEC’s priorities and approach to enforcement
• 11:10 - A discussion of the increased focus on cybersecurity, including rulemaking considerations 
• 12:30 - An analysis of financial reporting and misstatement cases, including internal control considerations
• 18:50 - Insight into the SEC's interest in the digital asset space, including cases involving cryptocurrencies and non-fungible tokens (NFTs)
• 23:30 - The importance of maintaining adequate books and records, including a discussion of cases brought in this area
• 27:20 - Final insights on the long-term implications of SEC enforcement actions and advice for companies reviewing their business practices

Pete Driscoll is a partner in PwC’s National Office focusing on SEC regulations, reporting, and compliance. Prior to his role at PwC, Pete held several roles at the SEC, including Director of the Division of Examinations and Chief Risk and Strategy Officer.

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 this podcast on your favorite podcast app for other episodes in our Year-end toolkit series.

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

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 Kevin Vaughn, PwC National Office partner, sits down with Suzanne Stephani, PwC National Office director, to discuss the significance of the statement of cash flows, focusing on the practical challenges and judgments involved in the classification of cash flows.

In this episode, you will hear:

• 2:05 - Frequent challenges and restatements related to the statement of cash flows 
• 5:10 - Insights from the SEC Chief Accountant, Paul Munter, on risk management and controls related to the statement of cash flows as well as considerations for assessing the materiality of cash flow restatements
• 14:15 - Fundamental principles of the statement of cash flows, including the identification of cash equivalents and related disclosure considerations 
• 21:40 - Gross versus net presentation on the statement of cash flows, including considerations for non-cash and nonrecurring transactions
• 27:25 - Key areas of judgment, including:
  • 27:25 - Applying the concept of constructive receipts and disbursements when dealing with third-party or agent transactions
  • 32:58 - The impact of debt transactions, including debt extinguishments and restructurings, on the statement of cash flows
  • 40:50 - Considerations when dealing with lease modifications, business combinations, discontinued operations, and classification of cash flows associated with treasury bills

For more information, read chapter 6 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series.

Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions.

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.

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

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

In this episode, guest host Kevin Vaughn, PwC National Office partner, sits down with Suzanne Stephani, PwC National Office director, to discuss the judgments and complexities involved in the balance sheet classification of debt, focusing on the challenges arising more frequently in today’s macroeconomic environment.

In this episode, you will hear: 

• 1:26 - A refresher on the importance of balance sheet classification of debt, including the impact of current economic conditions on debt and credit risk 
• 4:10 - Key considerations for classifying debt, including: 
  • 6:11 - Reminders for dealing with refinancing arrangements 
  • 8:20 - The implications of subjective acceleration clauses (SAC) in financing agreements 
  • 11:32 - The implications of covenant violation waivers on balance sheet classification 
  • 15:30 - Other facts and circumstances impacting debt classification 
• 23:10 - A discussion of the increased prominence of revolving debt arrangements and reminders for companies dealing with revolving agreements 
• 30:05 - Final advice for preparers on navigating debt classification and managing covenant violations 

For more information, read chapter 12 of our Financial statement presentation guide. Additionally, follow this podcast on your favorite podcast app for upcoming episodes in our Year-end toolkit series.

Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing transactions.

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.

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

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’s US Trust Solutions Quality Management leader, Michael Mullen, to help us navigate materiality judgments in a challenging financial environment.

In this episode, you’ll hear: 

• 2:10 - A discussion of the guiding principles of SAB 99 and its importance in the current macroeconomic environment 
• 5:41 - A refresher on the framework for evaluating materiality and errors in financial statements, including both quantitative and qualitative aspects 
• 7:05 - Observations on the increase in SEC staff comments and requests for SAB 99 analyses to support materiality judgments 
• 8:40 - Recent SEC statements on the increased trends in restatements and revisions, including considerations for preparers and auditors working through materiality assessments and reminders on the control implications 
• 15:55 - A discussion of the role of the audit committee and the importance of proactively engaging with those charged with governance when dealing with materiality judgments 
• 17:45 - Key takeaways for preparers and auditors in navigating the heightened risk of fraud and the significance of understanding the role of each stakeholder in the financial reporting process  
• 21:40 - Final advice for preparers on improving processes and controls to effectively avoid errors 

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.

Michael Mullen is PwC’s US Trust Solutions Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 30 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 us_podcast@pwc.com. 

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 us_podcast@pwc.com. 

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.

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

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.   

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

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.

In this episode, Heather Horn was joined by Gary Berchowitz, a leader in PwC’s Global Assurance Quality - Corporate Reporting Services group, to discuss the challenges and judgments needed under IFRS with regard to many of the hot button topics that we’ve been discussing in this series: Russia / Ukraine, inflation, and others key areas driven by today’s current environment.

In this episode, you’ll hear discussion of:

• 1:40 - The impact of inflation and higher interest rates on asset valuations, income statement presentation, and other accounting topics
• 11:33 - How to contemplate climate-related risks under IFRS, and the importance of bridging sustainability commitments and financial impact for investors
• 18:14 - Russia, Ukraine, and accounting for uncertainty more broadly
• 22:35 - Considerations for non-insurers with regard to the new insurance guidance, IFRS 17
• 26:10 - Updates on the OECD’s Pillar 2 global minimum tax proposal and the proposed deferred tax accommodations from the IASB
• 31:32 - The importance of updating processes to adjust to the current environment 
• 32:41 - IASB standard setting expected in 2023

Check out other episodes of our Year-end toolkit series: Managing materiality assessments and Accounting reminders for uncertain times.

Gary Berchowitz is the Non-Financial Instruments Leader in PwC’s Global Assurance Quality - Corporate Reporting Services group. Gary brings nearly 20 years of financial accounting experience, working to drive quality and connectivity throughout the PwC network and help local teams solve complex accounting issues in a practical way. Gary contributes to the firm’s global view on a variety of financial reporting matters.

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 us_podcast@pwc.com

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.

In this episode, Heather Horn was joined by 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 for 2022, it’s all about timely discussions that are responsive to the current environment.

In this episode, you’ll hear discussion of:

• 1:51 - The core oversight responsibilities of audit committees
• 6:41 - The key issues that finance teams need to be sure they cover in their next audit committee meetings
• 16:58 - Preparing to effectively address ESG reporting questions 
• 20:55 - For directors: the importance of being proactive about sustainability disclosures and the impact of ESG matters on the business
• 32:24 - Best practices for facilitating an audit committee meeting
• 35:43 - Final advice for both directors and finance teams

Check out other episodes of our Year-end toolkit series, available in our library, including making materiality assessments and some important accounting reminders for uncertain times.

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.

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 us_podcast@pwc.com.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.

In this episode, PwC’s US Trust Solutions Quality Management leader, Michael Mullen, joins us to share his expertise managing materiality judgments and to provide insights into recent SEC activity related to materiality. 

In this episode, you’ll hear discussion of:

• 1:45 - The principle and purpose of the SEC staff’s accounting bulletin on materiality (SAB 99) 
• 5:13 - Recent SEC statements on materiality and the importance of an objective, unbiased assessment
• 10:04 - The need for a thoughtful and documented assessment of materiality before identifying an error
• 15:54 - The impact of the current macroeconomic environment on the assessment of fraud risk by management and auditors 
• 23:44 - SEC enforcement actions and expected impact of the SEC’s new compensation clawback rules
• 31:51 - Final advice and reminders for year-end materiality assessments

Check out other episodes of our Year-end toolkit series, available in our library. And listen to another podcast with Michael that takes a deeper dive on the process of making materiality assessments. 

Michael Mullen is PwC’s US Trust Solutions Quality Management leader. In this role, he oversees complex client issues, providing technical insights and expertise in support of overall quality. With over 30 years of client service experience, Michael has led numerous global client engagements.

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 us_podcast@pwc.com.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process – from closing the books to finalizing reports.

In this episode, PwC National Office director Suzanne Stephani joins us to discuss the most timely issues preparers face on the statement of cash flows, focusing on the transactions and topics that are arising more frequently in today’s macroeconomic environment.

In this episode, you will hear reminders on the cash flow treatment of:

• 1:43 - Factoring of accounts receivable
• 8:42 - Supplier finance programs
• 12:51 - Cash equivalents, including Treasury Bills, commercial paper, and money market funds
• 18:52 - Foreign currency matters
• 27:51 - Discontinued operations
• 29:38 - Business combinations

Stay tuned for the next episode in our Year-end toolkit series. For more of our previous content on the statement of cash flows, check out Statement of cash flows: Back to basics and Building your cash flow statement in uncertain times.

Suzanne Stephani is a director in PwC’s National Office specializing in the statement of cash flows, as well as the application and interpretation of the accounting guidance related to financing and leasing 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 us_podcast@pwc.com.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process.

In this episode, PwC partner Jennifer Spang joins us to discuss year-end income tax accounting reminders and what you need to know about recent tax law changes and standard setting activity. 

In this episode, you will hear reminders on:

• 1:12 - Valuation allowances and the pressure on realizability from rising interest rates
• 5:42 - Goodwill impairment and the simultaneous equation
• 8:08 - Tax law changes, including proposed foreign tax credit regulations
• 13:02 -  Developments related to the OECD’s Pillar II framework
• 17:29 - The Inflation Reduction Act and what it means for 2023 reporting
• 27:31 - Standard setting developments, including the upcoming Exposure Draft on the FASB’s income tax disclosure project 
• 36:06 - Final advice for year-end reporting and the importance of staying in front of tax law changes

Stay tuned for the next episode in our Year-end toolkit series. Listen to previous podcasts in our Tax toolkit series in which we discuss valuation allowances and uncertain tax positions. For more information read our summary of accounting considerations in uncertain times, our summary of Pillar II, and our Income taxes guide. In addition, check out our Financial statement presentation guide for information on the presentation and disclosure of income taxes.

Jennifer Spang is a partner in PwC’s National Office who serves as the 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.

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 us_podcast@pwc.com.

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process.

In this episode, PwC National Office leaders join us to discuss what is top of mind for each of them on year-end reporting, including the impact of macroeconomic and geopolitical events. 

In this episode, you will hear reminders on:

• 1:39 - Rising interest rates and their influence on nonfinancial asset impairment and debt modifications
• 13:36 - The effect of market volatility on debt and equity investments and stock compensation 
• 23:30 - The impact of inflation on revenue and inventory accounting
• 29:59 - The importance of robust disclosures related to macroeconomic events
• 33:49 - The effect of supply chain disruptions on the business
• 39:09 - Accounting issues that arise in business or asset dispositions as well as restructurings amid recession concerns 
• 51:15 - Assessing subsequent events

Stay tuned for the next episode in our Year-end toolkit series. Listen to our previous 2022 SEC comment letter podcast series for more insights related to SEC reporting, including comments letter trends related to current events, and our previous impairment toolkit podcast series, including financial and nonfinancial asset impairment.

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. 

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, leading the revenue and liabilities division 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.

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.

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. 

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

In each episode of our Year-end toolkit series, our guests discuss key areas of the year-end reporting process.

PwC National Quality Organization leader, Tim Carey, joins us this week to kick off the series with his advice on dealing with the impact of broad macroeconomic issues, resolving complex technical issues, and staying ahead of the curve on the year-end close.

In this episode, our guests will discuss:

• 4:54 - Where to focus efforts for this year end 
• 16:15 - How to prepare for unexpected or unusual items
• 20:21 - The importance of re-assessing the adequacy of MD&A disclosures
• 22:50 - Why connecting the dots across functions is critical for managing issues  
• 31:54 - How to best manage the time between earnings release and filings
• 36:25 - Best practices for dealing with last minute issues and changes
• 39:07 - Tim’s recommendations for managing resources and promoting team success

Stay tuned for upcoming podcasts in our Year-end toolkit series and listen to our Q4 2022 Quarter close for further insights on the latest accounting, financial reporting, and regulatory updates to support year-end reporting. And for more information on presentation and disclosure requirements, check out our Financial statement presentation guide.

Tim Carey is PwC’s National Quality Organization leader, with 30+ years 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. 

Heather Horn is PwC’s National Quality Organization 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 us_podcast@pwc.com.