Regulations

Keep informed on various regulatory developments not covered by other issues

Non-GAAP financial measures: Investor and analyst perspectives

8/6/14 | PwC Investor Resource Institute

Companies often use non-GAAP financial measures to provide insights into their business. Investment professionals share their perspectives on the value to investors, their effect on transparency, and perceptions on management. Read more

In brief

SEC issues final rules to reform money market funds

7/25/14 | Assurance services
  • Flashline
    Flashline - Week ending November 20, 2014

    11/20/14 | Assurance services

    This week's PwC update on financial reporting developments includes: PwC's InPractice - Register now and join the discussion... Introducing our on-demand, CPE-eligible webcast library... Webcast: Private Company Services — 2014 Year-end accounting & reporting developments – December 8... and more

  • Webcast
    Q4 Current Accounting and Reporting Developments Webcast - December 17, 2014

    Assurance services

    Our quarterly webcast is designed to keep you informed about emerging accounting, regulatory, and market developments impacting financial reporting. Register for our Q4 webcast on December 17, or watch our on-demand (CPE-eigible) webcast replays of previous quarters.

  • Flashline
    Flashline - Week ending November 13, 2014

    11/13/14 | Assurance services

    This week's PwC update on financial reporting developments includes: Introducing “In transition — Practical insights on revenue recognition implementation”... Point of view: The interim reporting model — Time to get back to basics... M&A snapshot — Companies in distress: Bankruptcy process and reporting considerations... and more

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - October 2014

    11/4/14 | Center for Board Governance

    2014 Annual Corporate Directors Survey: Trends shaping governance and the board of the future. The full report addresses board performance, diversity, practices, priorities as well as IT and cybersecurity oversight, strategy and risk oversight, and executive compensation and director communications.

  • Webcast
    China and Equity Compensation - is it getting any easier? November 3, 2014

    Human resource services

    Many multinational companies have been dealing with the complex and ever changing regulatory environment in China for several years, but still struggle to keep informed of changes in tax bureaus' positions or the State Administration of Foreign Exchange (SAFE) requirements.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - September 2014

    10/1/14 | Center for Board Governance

    Audit Committee Excellence Series: Overseeing external auditors addresses leading practices related to communications with the external auditor, the chair’s relationship with the lead audit partner and the firm, evaluating the external auditor’s performance, and the company’s preapproval controls for services provided by the external auditor.

  • NAIC Meeting Notes, Summer 2014

    9/30/14 | Insurance

    The National Association of Insurance Commissioners held its Summer National Meeting in Louisville from August 16 to 19. This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met there.

  • Corporate Governance Series
    The Quarter close: Directors edition Q3 2014

    9/24/14 | Center for Board Governance

    This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.

  • Regulatory and standard-setting developments
    Regulatory and standard-setting developments - September 2014

    9/22/14 | Assurance services

    This document provides a summary of activities of the PCAOB, SEC, and FASB, and related international developments that are of interest to audit committees and companies.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - August 2014

    9/4/14 | Center for Board Governance

    As cybersecurity has risen to the top of many boards’ risk management agendas, there is a more compelling need for clear dialogue between the C-suite and the board.

  • US Real estate insights: Summer 2014

    8/26/14 | Real estate

    Single family homes and student housing are two areas that are gaining popularity with real estate investors. In this issue, we also provide our perspective on the latest market and economic trends, regulatory activities and legislative changes affecting the real estate industry.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - July 2014

    8/25/14 | Center for Board Governance

    This issue of BoardroomDirect® includes an analysis of the audit committee's oversight of internal audit. There is also news about the SEC staff issuing proxy advisory firm guidance, ISS 2015 proxy voting policy survey, and more.

  • Non-GAAP financial measures: Investor and analyst perspectives

    8/6/14 | PwC Investor Resource Institute

    Companies often use non-GAAP financial measures to provide insights into their business. Investment professionals share their perspectives on the value to investors, their effect on transparency, and perceptions on management.

  • Foreign banks: US admission fee rising

    7/31/14 | Financial services regulatory practice

    The Fed expects detailed implementation plans from foreign banks.

  • In brief
    In brief: SEC issues final rules to reform money market funds

    7/25/14 | Assurance services

    New SEC rules mandate floating NAV for institutional prime money market funds.

  • US regulatory outlook: The beginning of the end

    7/22/14 | Financial services regulatory practice

    Four years since Dodd-Frank, several key rulemakings remain.

  • Point of view
    Point of view: Non-GAAP financial measures: Enhancing their usefulness

    7/16/14 | Assurance services

    Enhancing the transparency of non-GAAP financial measures can help users better understand past performance, read our Point of view to find out more.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - June 2014

    7/1/14 | Center for Board Governance

    This issue of BoardroomDirect® includes an article about the influence of activist shareholders and the role they play today in forcing change. There is also news about a Delaware bill that would prohibit fee-shifting bylaws, environmental groups warning boards of fossil fuel companies about climate-change litigation, the new converged revenue recognition standard, and the first round of conflict minerals disclosures.

  • Corporate Governance Series
    The Quarter close: Directors edition Q2 2014

    6/26/14 | Center for Board Governance

    The Q2 2014 edition focuses on five IPO reminders for boards, FASB's new guidance on discontinued operations, and the Venezuelan exchange rates.

  • Regulatory and standard-setting developments
    Regulatory and standard-setting developments - June 2014

    6/19/14 | Assurance services

    PwC's summary of recent activities of the PCAOB, SEC, and FASB, and related international developments that are of interest to audit committees and companies.

  • 2014 Conflict minerals filing review - Early insights from some of the largest companies

    6/10/14 | Assurance services

    Our benchmarking of some of the largest companies' conflict minerals filings provides insight into industry trends. We looked at 10 filings for each of the following industries: Aerospace & defense, Automotive, Industrial products, Retail, and Technology.

  • Point of view
    Point of view - Sustainability reporting

    6/6/14 | Assurance services

    Sustainability reporting is a growing trend. Find out how leading companies are benefitting from increased transparency.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - May 2014

    5/30/14 | Center for Board Governance

    This issue of BoardroomDirect® includes an article about the meaning of risk appetite and the role the board and management play. There is also news about a Delaware court decision on fee-shifting bylaws, the new Venezuelan foreign currency exchange regime and an update on the 2014 shareholder proposals, the proposals for Audit Quality Indicators and the conflict minerals disclosure rule.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - April 2014

    5/1/14 | Center for Board Governance

    This issue of BoardroomDirect® includes an article on coverage of the PCAOB’s public meeting on its proposed changes to the auditor’s reporting model. The newsletter also contains an analysis of the federal government’s cybersecurity framework, a call by some to raise the shareholder proposal threshold, and the possibility that the SEC may weigh actions on proxy advisory firms. There is some news for audit committees: comments by the CAQ on the EU audit market changes, PwC’s 2014 State of the Internal Audit Profession Study, and a federal court decision on the SEC’s conflict minerals disclosure rule.

  • In brief
    In brief: SEC issues guidance on conflict minerals disclosures

    4/30/14 | Assurance services

    The SEC has reduced some of the conflict mineral disclosures, but the filing deadline remains June 2, 2014.

  • Executive Compensation: Clawbacks 2013 proxy disclosure study

    4/17/14 | Human resource services

    This PwC publication presents our analysis of 2009 through 2012 year-end proxy disclosures for 100 large public companies relative to their compensation recoupment or “clawback” policies. When providing employees with bonuses, stock options, or other incentive awards, companies often establish provisions that allow them to recoup all or a portion of the award under certain circumstances. These provisions, referred to as clawbacks, are detailed by most public companies in their annual proxy statement.

  • US Circuit Court of Appeals Issues Decision on Conflict Minerals

    4/17/14

    On April 14, the US Circuit Court of Appeals for the District of Columbia issued a decision in the conflict minerals case that requires at least one aspect of the rule be revisited.

  • Point of view
    Point of view: Financial statement disclosures - Enhancing their clarity and understandability

    4/11/14 | Assurance services

    Preparers and others have a role in making sure footnote disclosures are clear and understandable.

  • 2014 Conflict minerals survey: Where companies stand on their compliance efforts—this year and beyond

    4/9/14 | Assurance services

    With the deadline for conflict minerals reporting and disclosure fast approaching, PwC recently surveyed 700 stakeholders on their preparation, progress, and challenges. We found many will need to rush to comply with the conflict minerals rule mandated by the Dodd-Frank Act.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - March 2014

    3/27/14 | Center for Board Governance

    The inaugural edition of PwC’s Audit Committee Excellence Series covers a company’s forward-looking guidance practices and the potential risks associated with analysts’ consensus estimates. It provides board-level perspectives regarding current trends as well as the advantages and disadvantages of providing guidance.

  • Corporate Governance Series
    The Quarter close: Directors edition Q1 2014

    3/27/14 | Center for Board Governance

    This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues.

  • Video
    COSO 2013 - ICFR Transition

    3/18/14 | Assurance services

    Highlights how clients can effectively leverage PwC's four-phased approach to transition to the COSO 2013 Framework and utilize the Phase 2 mapping template.

  • Regulatory and standard-setting developments
    Regulatory and standard-setting developments -- March 14, 2014

    3/14/14 | Assurance services

    This document provides a summary of activities of the PCAOB, SEC, and FASB, and related international developments that are of interest to audit committees and companies.

  • Corporate Governance Series
    Shareholder questions: Management's considerations for 2014 annual meetings

    3/3/14 | Assurance services

    This PwC publication is intended to help management and the board of directors of public companies prepare for the annual meeting of shareholders. It contains example questions on topics that may be top-of-mind for shareholders, along with background information and suggested actions for management’s consideration.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - February 2014

    2/27/14 | Center for Board Governance

    This issue of BoardroomDirect® includes an article on the latest developments on cybersecurity, including new standards framework from the US Department of Homeland Security and survey results that show CEOs are extremely concerned about cyber-attacks. The newsletter also reports on new shareholder proposals companies are facing in 2014, the creation of an engagement protocol from a group of independent directors and investors, Institutional Shareholder Services targeting director tenure in its corporate governance rating system, and the PCAOB extending the comment period for its proposed lead audit partner disclosure rule.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - January 2014

    1/30/14 | Center for Board Governance

    In this issue of BoardroomDirect® Mary Ann Cloyd, leader of PwC’s Center for Board Governance, recently talked with Noreen Doyle, director of Newmont Mining Corp., Credit Suisse, and QinetiQ Group Plc, and Jim Nevels, chair of The Hershey Co, about a variety of issues including shareholder communication, risk oversight, and board diversity.

  • Setting the standard
    Setting the standard - January 2014

    1/9/14 | Assurance services

    Welcome to the latest edition of "Setting the standard." It includes the latest updates on the standard-setting activities of the FASB and IASB. Learn more inside.

  • Corporate Governance Series
    BoardroomDirect: Update on current board issues - December 2013

    1/2/14 | Center for Board Governance

    This issue of BoardroomDirect® provides a synopsis of PwC’s Key considerations for board and audit committee members, 2013-2014 edition. That publication offers insight into major issues facing directors, such as strategy, emerging technologies and Big Data, risk oversight, the talent pipeline, corporate ethics, the financials, and stakeholder communications. There are also actions for directors to consider for each issue.

  • Corporate Governance Series
    The quarter close - Directors edition: A look at this quarter's financial reporting issues - Q4 2013

    12/23/13 | Center for Board Governance

    This quarterly publication is designed to keep directors informed about the latest accounting and financial reporting issues that impact board decisions and company policies.

  • Regulatory and standard-setting developments
    Regulatory and standard setting developments - December 18, 2013

    12/18/13 | Assurance services

    This document provides a summary of activities of the PCAOB, SEC, and FASB, and related international developments that are of interest to audit committees and companies.

  • Dataline
    Dataline: Highlights of the 2013 AICPA National Conference on Current SEC and PCAOB Developments (No. 2013-27)

    12/13/13

    SEC, PCAOB and FASB speakers were among the headliners at the 2013 AICPA Conference. Key themes included quality and transparency for financial reporting and audits.

  • Dataline
    Dataline: Highlights of the 2013 AICPA National Conference on Banks and Savings Institutions (No. 2013-26)

    12/12/13 | Assurance services

    At the 2013 AICPA National Conference on Banks and Savings Institutions, regulators and standard setters shared views on top-of-mind issues for financial institutions.

  • Webcast
    Conflict minerals - Next steps: An auditor's perspective - April 9, 2013

    Assurance services

    Conflict minerals compliance has quickly become one of the most pressing issues for both SEC and non-SEC registered companies. As we have spoken to a large number of companies regarding their conflict minerals implementation programs, we would like to share with you some observations and key takeaways.

  • In brief
    In brief: Most money market funds to be scoped out of consolidation (No. 2013-44)

    10/25/13 | Assurance services

    FASB tentatively decides to exclude registered and "similar" unregistered money market funds from the scope of consolidation.

  • Power and Utilities Alert 2013-8: Alternative financing options for the renewable power industry

    10/1/13 | Power & utilities

    What regulatory changes would be required for renewable power companies to access financing alternatives such as REITs and MLPs? What are the benefits and the regulatory challenges of each alternative?

  • Regulatory and standard-setting developments
    Regulatory and standard-setting developments -- September 19, 2013

    9/19/13 | Assurance services

    This document provides a high-level summary of activities of the FASB, PCAOB, SEC and related international developments.

  • Broker-dealers: New FOCUS on financial responsibility

    9/12/13 | Financial services regulatory practice

    The SEC finalized two new rules for tightening controls over broker-dealers holding customer funds and securities.

  • Identity Theft Regulation: Are you under the SEC/CFTC microscope?

    9/12/13 | Financial services regulatory practice

    Impacted organizations are beginning to finalize their approach to a joint SEC/CFTC rule for preventing identity theft.

  • Derivatives: Global convergence becomes global confusion

    9/9/13 | Financial services regulatory practice

    The CFTC offers a road map and timeline for cross border derivatives regulation, but much uncertainty remains.

  • Stress testing: Getting to credibility - Firms between $10 and $50 billion

    8/30/13 | Financial services regulatory practice

    Analysis of the banking regulators' guidance on the Dodd Frank Act's stress testing requirements for firms between $10 and $50 billion.

  • Webcast
    Conflict minerals webcast - Looking ahead to the first deadline - September 17, 2013

    Assurance services

    Almost 9 months into the first year of compliance, where does your company stand? Do you have a clear path forward to your first conflict minerals filing deadline? Watch this webcast where we share our perspective on the latest developments (including the legal challenge), considerations as you close out your first year of compliance, what to expect in the independent private sector audit – and how to prepare, and examples of how leading companies are addressing their compliance efforts.

  • Basel & prudential standards: US moving faster than world

    8/12/13 | Financial services regulatory practice

    US regulators are eager to complete rulemakings implementing Basel III and Dodd-Frank’s Enhanced Prudential Standards. This desire is compounded by public and congressional criticism of the delay in establishing a post-crisis supervisory framework – criticism that has been getting louder every year since Dodd-Frank’s passage.

  • Credit exposure: Affiliate transaction rule in sight

    8/6/13 | Financial services regulatory practice

    Various provisions of Dodd-Frank require banks to incorporate credit exposures from derivatives and securities financing transactions when calculating prudential limits.

  • Heightened leverage ratio: US regulators unveil next act for regulating large banks – a long way until the end

    7/24/13 | Financial services regulatory practice

    US regulators issued a Notice of Proposed Rule-making calling for a Revised Supplementary Leverage Ratio for the eight most systemically significant US banking organizations.

  • Foreign banks: Hope is not a strategy – Time to act

    7/18/13 | Financial services regulatory practice

    In December 2012, the Federal Reserve published a NPR describing how the Enhanced Prudential Standards under Dodd-Frank would be applied to foreign banking organizations.

  • Conflict minerals survey: How companies are preparing

    7/11/13 | Assurance services

    PwC surveyed companies to determine their level of understanding of and progress toward conflict minerals rule compliance. The results of the survey across several industries is included in this report.

  • US regulatory outlook – second half of 2013: Final enhanced prudential standards and Basel III rules

    7/10/13 | Financial services regulatory practice

    This Regulatory Brief provides (a) the “regulatory scorecard” for 2013 and (b) our view of the Basel III and enhanced prudential standards rulemakings that will occur over the rest of 2013.

  • Video
    Preparing to access the capital markets

    6/18/13 | Assurance services

    In this video, PwC discusses preparing to access the capital markets.

  • 10Minutes
    10Minutes on lease accounting

    6/4/13 | Assurance services

    After three years of outreach and deliberation, the IASB and FASB recently issued a revised proposal to overhaul the rules on accounting for leases, a move that could significantly boost US companies' reported debt.

  • 10Minutes
    10Minutes on conflict minerals

    5/9/13 | Assurance services

    10Minutes on conflict minerals provides insight into the strategic benefits and risks companies will want to focus on as they comply with the SEC's conflict minerals rule. The rule is effective for 2013 calendar year operations, so regardless of whether companies view conflict minerals as a supply chain opportunity, risk to their brand or another regulatory to-do, they should act now to prepare.

  • Non-GAAP measures (Insights from the Investment Community)

    4/15/13 | PwC Investor Resource Institute

    Companies in the United States typically follow generally accepted accounting principles (GAAP) when preparing financial statements. A non-GAAP measure is defined as a measure that excludes (or includes) amounts that are included (or excluded) in the most directly comparable measure calculated in accordance with GAAP. Read why members of the investment community find non-GAAP measures useful.

  • Dataline
    Dataline: 2012 year-end accounting and reporting considerations - Leading practices and lessons learned on key topics (No. 2012-20)

    12/3/12 | Assurance services

    This year end, entities continue to face many complex financial reporting issues such as providing new fair value disclosures, accounting for debt modifications, and evaluating revenue recognition guidance. Economic challenges around the world continue to have broad financial reporting implications. While not an all-inclusive list, this Dataline is intended to serve as a timely reminder of leading practices and lessons learned on key issues that companies should consider as they navigate the year-end financial reporting process.

  • Dataline
    Dataline: Highlights of the 2012 AICPA National Conference on Banks and Savings Institutions (No. 2012-14)

    10/18/12 | Assurance services

    The 2012 AICPA National Conference on Banks and Savings Institutions was held September 10 through 12, 2012 in Washington, DC. Representatives from the banking regulators, SEC, and standard setters presented at the Conference along with auditors, users, preparers, and industry experts. Presenters expressed views on a wide range of important accounting, auditing, and financial reporting topics. This Dataline provides highlights of topics discussed at the Conference.

  • Video
    The new conflict minerals rule: What it means for you

    9/17/12 | Assurance services

    The new conflict minerals rule: What it means for you

  • Dataline
    Dataline: SEC adopts conflict minerals rule -- Public and nonpublic companies in many industries are affected (revised June 6, 2013) (No. 2012-10)

    9/11/12 | Assurance services

    On August 22, 2012, the SEC approved a final rule requiring certain issuers to publicly disclose their use of conflict minerals [tantalum, tin, tungsten, and gold] and whether those minerals originated in the Democratic Republic of the Congo ("DRC") or adjoining countries (“covered countries”). This Dataline looks at the key provisions of the final rule. Also included is a supplement on frequently asked questions on conflict minerals.

  • Dataline
    Dataline: SEC Staff releases its final report on its IFRS Work Plan (No. 2012-06)

    8/8/12 | Assurance services

    The SEC Staff recently published its final Staff Report regarding the potential impact of incorporation of IFRS into the US financial reporting system. This Dataline looks at the six key areas covered in the Staff Report and offers our observations.

  • Point of view
    PCAOB Proposed Auditor Reporting Model Changes: Evaluating auditor assurance on information outside of the financial statements

    5/9/12 | Assurance services

    PwC examines, and shares our views on, the PCAOB's concept release on the auditor's reporting model including auditor assurance on information outside of the financial statements.

  • Point of view
    Point of view: PCAOB Proposed Auditor Reporting Model Changes: Evaluating expanded use of emphasis paragraphs

    5/8/12 | Assurance services

    PwC examines, and shares our views on, the PCAOB's concept release on the auditor's reporting model including the expanded use of emphasis paragraphs

  • Dataline
    Dataline: Emerging growth companies -- Frequently asked questions about Title I of the JOBS Act (Revised June 13, 2012*) (No. 2012-03)

    4/30/12 | Assurance services

    The JOBS Act of 2012 created a number of special accommodations under the U.S. securities laws for a newly designated group of companies known as "emerging growth companies" (EGCs). A principal goal of the JOBS Act (which is short for the Jumpstart Our Business Startups Act) is to encourage job creation and economic growth by making it easier for private companies to access the public capital markets. This Dataline provides responses to frequently asked questions about the EGC provisions of Title I of the JOBS Act.

  • Practical tip
    Practical tip: An emerging growth company should evaluate whether it needs to make disclosures relating to transition to new or revised accounting standards in its next SEC filing (No. 2012-02)

    4/24/12 | Assurance services

    Ordinarily, a company preparing an SEC filing must apply all accounting standards (including transition provisions) as if it had always been a public company. The JOBS Act of 2012, however, provides an exception to this general rule. Under Section 102(b) of the JOBS Act, an emerging growth company (EGC) may apply any new or revised financial accounting standard on the same date a company that is not an issuer (as defined in the Sarbanes-Oxley Act) is required to apply the new or revised accounting standard, if the standard applies to a non-issuer. This Practical tip highlights that an EGC should evaluate whether it needs to make disclosures relating to transition to new or revised accounting standards in its next SEC filing.