PwC's accounting weekly news: January 10, 2020

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And suddenly you know: it’s time to start something new and trust the magic of new beginnings.


It is a new year, and indeed time to start something new. Our newsletter will continue to bring you PwC insights and curated content on the latest accounting and regulatory topics, but beginning today we offer a new look and new introduction.

This week is a mix of items focused on closing out 2019 and setting the stage for 2020. We’re still offering key reminders about 2019 financial reporting, but we’re also highlighting 2020 priorities and expected developments.

And so we begin. Together, let's see what magic this year holds.

2019 year-end reminders: Insights from PwC’s National office

PwC’s National office fields the most challenging questions from the practice. Join us for insights to consider when closing out 2019.

Operating government infrastructure? Is it a service concession?

Not all contracts related to infrastructure with a governmental entity are service concessions. But you need to know if it is. Read our In the loop on how to identify service concession arrangements and the resulting accounting consequences.

Critical Audit Matters resources

Auditors of large accelerated filers are required to communicate critical audit matters (CAMs) in their audit reports. The Center for Audit Quality (CAQ) has developed a number of resources to support implementation of the new requirements, including a webcast, a guide for investors, and lessons learned.

SEC and PCAOB share insights for audit committees

In December 2019, the SEC issued a Statement on the Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities, which includes observations and reminders designed to assist audit committees. Additionally, the PCAOB issued Conversations with Audit Committee Chairs: What we heard and FAQs, which provides information garnered from their interviews with audit committee chairs and includes audit committee perspectives on what is working to help improve audit quality.

PwC comments on FASB proposed improvements to the Codification

The FASB’s latest proposal amends a variety of topics. See our comments on proposed Codification improvements.

Building green and affordable: why real estate is all in for ESG

In an age of ESG and impact investing - and with rising concerns of the impact of income inequality - PwC’s Alexis Crow explores the opportunities for investing in green and affordable housing around the globe.

2019 Annual Capital Markets Watch

We describe how US Equity markets in 2019 benefited from strong investor interest, with the S&P and NASDAQ producing outsized returns of 29% and 35%. Driven by historically low unemployment, increases in employee wages, and interest rate cuts, 2019 remained resilient against foreign trade wars and downturn indicators that persisted from the prior year.

The 2020 landscape: what boards should expect

Social issues, talent, and culture will set the tone for 2020, with the role of the corporation being the headline. Boards will want to pay attention.

AI Predictions 2020: Five priorities to focus on in the coming year

PwC predicts and describes five AI priorities for 2020: bringing efficiency to problem solving, upskilling, improved risk management, integrating AI into business processes, and shaping new business models.

Contact us

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

International Accounting Leader, National Professional Services Group, PwC US