PwC's accounting weekly news: January 22, 2021

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Knowledge is a process of piling up facts; wisdom lies in their simplification.

- Martin Luther King

This week we have a timely podcast on the business community’s pivotal shift in policy and societal engagement. Tune in to hear Roy Weathers, PwC’s Vice Chair and CEO of the CEO Action for Racial Equality. A truly engaging discussion. 

Forecast 2021: Pledging minds + money to solve societal issues

In this episode, host Heather Horn sits down with Roy Weathers, Vice Chair of Societal Engagement and Policy Solutions at PwC and CEO of CEO Action for Racial Equity, to talk about the business movement that has prompted hundreds of companies to bring their heads, hearts, and wallets to the table to better understand and solve societal challenges on race, equity, and social justice.

New SEC human capital disclosure rules: What you need to know now

Need help navigating the SEC's new human capital disclosure rules that became effective on November 9, 2020? Listen as host Heather Horn sits down with Sheri Wyatt, a partner in PwC’s sustainability practice and our Diversity, Equity, and Inclusion Assurance leader, and Brandon Yerre, a principal in our Organization and Workforce Transformation group, to discuss what these new rules mean for your company.

You're saying it. Are investors hearing it?

Technology is changing how investors analyze company communications, and companies are responding by sharpening their messaging. This In the loop was updated to include additional tools and techniques investors are using to evaluate company communications.

PwC comments on the FASB's goodwill triggering event alternative

PwC has submitted its comments on the FASB's proposed goodwill triggering event alternative for certain private companies and not-for-profit entities.

Private company insights: year-end reporting reminders for private companies

Our annual Private company insights highlights resources for navigating the accounting and reporting effects of the COVID-19 pandemic, keeps you up to date on private company-specific standard setting developments, and outlines certain US GAAP standards effective or eligible for adoption in 2020 for private companies.

Boardroom diversity should top directors’ 2021 agenda

As scrutiny intensifies, boards should act now to become more diverse and inclusive. Learn more.

Here’s what we’re following

Executive order: Regulatory Freeze Pending Review

One of the executive orders signed by President Biden on January 20 froze certain regulations initiated by the prior administration. With respect to rules that were already published in the Federal Register but that have not yet taken effect, which include the modernization of Regulation S-K (described in our In depth), the executive order asks to “consider postponing the rules’ effective dates for 60 days.” The delay is intended to allow the new administration to evaluate regulations that are not yet effective. The Regulation S-K amendments modernize, simplify, and enhance MD&A, streamline supplementary financial information, and eliminate the requirement to provide certain selected financial data. They are currently set to become effective February 10, 2021. We will keep you posted on further developments regarding whether these rules can be applied to 2020 Form 10-Ks.

Contact us

Heather Horn

Heather Horn

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

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US