CEOs around the world expect their governments to play a role in boosting national competitiveness. Most identify education, infrastructure, and financial sector stability as areas where governments can make a difference. Progress is often accelerated by close cooperation between public and private sectors.
In the US, business leaders don’t hide their disappointment in their government, be it in managing the implications of the economic crisis or the fiscal deficit and debt burden. Yet, evidence shows that difficult government-business relationships can be overcome in the interest of addressing shared priorities. One such area is skills development. More than 50% of US CEOs, for example, are increasing their investments in formal education systems as they look to fill critical talent gaps.
In this survey report, PwC and FERF teamed up to gain an understanding of where companies are relative to implementing new revenue recognition standard. While many companies do not know what the implementation journey fully looks like yet in terms of implementation processes, costs, timing, contract reviews, IT and systems, operations, quantification and reporting, they understand they should start preparing now.
This edition updates you on recent FASB, SEC and other regulatory and corporate governance topics. Learn what's new now, and what to look for in the near future. We invite you to download our Q1 publication and view our new video perspectives.
After much deliberation, the FASB and IASB are set to release a final global revenue recognition standard in the coming months that will do away with current industry-specific accounting and instead apply a single set of principles to all revenue transactions. Changes to practices, processes and systems could ripple through your business. 10Minutes on revenue recognition provides information about the standard as well as insight into ways in which some companies are preparing for the broader impact.
The public portion of Category 3 US resolution plans reveal strikingly similar strategies.
The FDIC's proposal contains little new information, but shines light on the outstanding key issues even if only by its silence.
A bail-in debt proposal is expected from US regulators in the coming months.
Regulators released the public sections of the 11 Category 1 firms' annual resolution plans.
The CFTC offers a road map and timeline for cross border derivatives regulation, but much uncertainty remains.
Understanding its impact and the path forward for nonfinancial multinational businesses.
A closer look at the significance of recently released drafts of certain FATCA-related forms.
This Newsbrief provides an overview of the key elements of the German-U.S. IGA and how it compares to the Model 1 IGA.
Understanding the effects of the European Commission’s proposed amendments to the automatic exchange of information (“AEOI”) between EU Member States.
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 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.
In this Newsbrief, we take a closer look at the potential impact of FATCA on the global captive insurance market.
Form 8957, when issued in final form, may be used by foreign financial institutions (FFIs) to register for FATCA purposes.
The final FATCA regulations released in January brought clarity on some issues the insurance industry had identified in the proposed regulations. While some provisions in the final regulations attempt to simplify the impact on the insurance industry, other provisions have ultimately complicated FATCA's impact.
The US Senate Banking Committee held oversight hearings on the implementation of the Dodd-Frank Act. The hearing provided an update on the regulatory timetable.
This edition of To the point: Current issues for boards of directors, reviews guidance from the SEC and DOJ about the Foreign Corrupt Practices Act and policy updates from the ISS on executive compensation, board response to proposals with majority shareholder support, hedging of company stock, and what directors should know about data security and cyberattacks.
For non-financial services companies, regulations introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act and Basel III will result in significant changes to the derivatives market. Every aspect of a corporation using derivative to manage risk will ultimately be affected—from risk strategies and corporate funding to operations and accounting. This 10Minutes provides insight on the impacts of new regulation on corporate entities and what those entities need to do now in order to meet impending reform deadlines and ensure they're well equipped to manage increased costs and compliance responsibilities.
Final regulations regarding deduction and capitalization of expenditures related to tangible property (the final repairs regulations) are expected to be released in 2013.
The government is working on guidance to address three important and long-standing topics related to the section 41 research credit.
Can compromises be reached before the end of this year to avoid the 'fiscal cliff' effect of scheduled tax increases and spending reductions
UN Committee of Experts on International Cooperation in Tax Matters (the Subcommittee) approved the current unedited version of the UN Transfer Pricing Manual
US v Davenport judgment to the government with respect to the taxpayers' claims for research credits related to certain software customization
How will the effects of the European debt crisis impact US businesses? PwC shares its views on what companies can do to manage the changes that lie ahead.
Objectivity, independence, and professional skepticism are fundamental to audit quality. Mandatory audit firm rotation would not enhance audit quality.
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.
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.
PwC Tax leaders examine the patent box regimes adopted by six EU countries and consider key issues to be addressed in designing a similar tax regime for intellectual property (IP) in the United States that would attract and retain domestic IP development and ownership.
PwC’s 8th annual examination of the internal audit profession, focuses on this rising importance of risk management and internal audit's contribution by taking a closer look at how stakeholders and board members view critical risks and the role internal audit could be playing.
While there’s still a great deal of uncertainty around the specifics of healthcare reform, one thing’s clear: The healthcare industry in the US will never be the same. And 2011 is shaping up to be a makeover year for healthcare providers, health insurers, pharmaceutical and life sciences companies, and employers. But what are the most significant issues in play? A recent report identifies six.
By helping create jobs in the private sector and by investing in infrastructure, governments can help create an environment conducive for growth. In fact, almost half of CEOs surveyed say that improving the country’s infrastructure and fostering a skilled workforce should be government’s top priorities. But how can CEOs enter strategic and collaborative relationships with governments to pursue their own growth agendas?