PwC’s Power and Utilities Industry Group has developed this publication to assist management teams in understanding some of the SEC’s current focus areas as well as other financial reporting hot topics.
We are pleased to present to you our 2016 annual publication on SEC comment letter and financial reporting trends specific to registrants in the Power & Utilities sector. Our team has prepared this publication to assist management teams in evaluating the SEC’s comments and the staff’s hot topics for the industry.
We have highlighted the topics that have yielded the most comments from the SEC staff, and we have provided relevant examples of recent comment letter questions to aid preparers in evaluating whether their disclosures are in accordance with the relevant accounting and reporting guidance. As in prior editions, this publication includes certain benchmarking data. To further assist financial reporting teams with their consideration of future disclosures, we have added additional benchmarks this year. We believe you will find these benchmarks to be informative as you compare your disclosures to those of your peers. Enhancements to our 2016 report include the addition of the overall financial composition of the registrants included in our analysis and a discussion of the recent comment letter trends related to internal control over financial reporting and disclosure controls and procedures.
Our goal in preparing this publication is to provide those involved in preparing or overseeing financial reporting disclosures with relevant information for the year-end financial reporting season. We hope you find the insights and examples in this report to be useful as you navigate your year-end reporting process.