Point of view
Brief report describing a current issue of business concern, its ramifications and PwC's opinion
Point of viewPoint of view: Consolidation - A single model would enhance information reported to investors
5/6/13 | Assurance services
This Point of view highlights that a single definition of control leading to one consolidation model in the U.S. would benefit all stakeholders.
Point of viewPoint of view: Assessing going concern -- Stakeholders would benefit from clarity in U.S. disclosure requirements
12/17/12 | Assurance services
During the recent economic downturn, some stakeholders were surprised to learn that companies faced liquidity issues. As a result, the FASB and PCAOB are currently revisiting the accounting and auditing guidance around going concern assessments. Our Point of view on assessing going concern highlights that a standard that will require a company to provide earlier and more frequent, scalable disclosures that increase if conditions deteriorate will benefit stakeholders. However, we recognize that the auditor's role under the existing auditing standards is important to stakeholders. We believe improvements in the reporting model will be achieved most effectively by accounting and auditing standard setters working together to develop complementary standards.
Point of viewPoint of view: Other comprehensive income -- A consistent approach would improve information for investors
8/23/12 | Assurance services
The FASB and IASB have a number of projects underway that could further expand or otherwise change what is reported within net income, and outside of net income within other comprehensive income. Existing accounting standards do not provide clear principles for when items should be excluded from net income and recognized in other comprehensive income. In this Point of view, we observe that we have heard many diverse views from investors, preparers, standard setters, and auditors on this topic. We believe that more consistency regarding the attributes of items initially excluded from net income would be beneficial for investors...
Point of viewPoint of view: Mandatory audit firm rotation: Why other changes would be better for investors
5/24/12 | Assurance services
Objectivity, independence, and professional skepticism are fundamental to audit quality. Mandatory audit firm rotation would not enhance audit quality.
Point of viewPCAOB 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 viewPoint of view: PCAOB Proposed Auditor Reporting Model Changes: Evaluating auditor's discussion and analysis
5/8/12 | Assurance services
PwC examines, and shares our views on, the PCAOB's concept release on the auditor's reporting model including evaluating auditor's discussion and analysis
Point of viewPoint 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
Point of viewPoint of view: The path forward for international standards in the United States: Considering possible alternatives
10/6/11 | Assurance services
The SEC announced plans for the future use of international financial reporting standards (IFRS) by US public companies. Completion of the current convergence agenda, enhanced cooperation among capital market securities regulators, and a refocused international interpretations body will provide a basis for a single set of high-quality global accounting standards.
Point of viewPoint of view: Accounting for income taxes: It's time for a comprehensive review
7/28/11 | Assurance services
Recent changes in economic, regulatory, tax legislative, and accounting standard setting environments require a comprehensive review to reduce tax accounting complexity while improving the relevance and quality of the reporting.
Point of viewPoint of view: Reducing complexity: Our proposal to address this challenge
6/24/11 | Assurance services
Many U.S. accounting standards are more complex than necessary to meet the standard-setter's objective of issuing high-quality standards. Complexity imposes costs on both investors and companies for information that is often neither easily understood nor particularly useful. Opportunities exist to maintain, or even increase, the quality of accounting standards while reducing complexity.
Point of viewPoint of view: Finding the right pace for standard setting: Priority project timelines extended — quality cited
5/12/11 | Assurance services
Issuing high quality accounting standards is paramount. The boards should take whatever time is needed to accomplish this goal.