Get a refresher on consolidation accounting with a deeper look at how to determine whether an entity is a variable interest entity (VIE). We cover key considerations, including understanding the entity’s purpose and design, identifying variable interests and equity at risk, and evaluating the characteristics used to determine whether an entity is a VIE.

This episode is part of our new Back to basics series, where throughout the year, we’ll revisit core accounting topics. It is the second of four episodes on consolidation. In our first episode, Back to basics: Consolidation—Getting started, we laid the foundation for consolidation accounting. Stay tuned for upcoming episodes covering how to determine which party, if any, should consolidate a VIE, followed by an episode on presentation and disclosure considerations.

Looking for more guidance on consolidation accounting? See PwC’s Consolidation guide. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guests

Matt Sabatini is a deputy chief accountant in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, consolidations, corporate reorganizations, recapitalizations, joint ventures, and other investments.

Alexander Martin is a partner in PwC's Deals practice with over a decade of deals experience, helping clients solve complex accounting, financial reporting, and other business issues that arise from transaction-driven events such as mergers and acquisitions, divestitures, and capital raises.

About our host

Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Get a refresher on consolidation accounting, including an overview of the consolidation framework, the variable interest entity (VIE) and voting interest entity (VOE) models, and key scope considerations. This episode is part of our new Back to Basics series that revisits core accounting topics.

This episode lays the foundation for our next three Back to basics episodes on consolidation. We’ll take a deeper look at identifying a VIE, determining which party, if any, should consolidate it, and consolidation presentation and disclosure. Stay tuned as the remaining episodes are released over the next two weeks.

Looking for more guidance on consolidation accounting? See PwC’s Consolidation guide. Additionally, follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guests

Matt Sabatini is a deputy chief accountant in PwC's National Office who helps clients and engagement teams navigate the accounting and financial reporting for complex transactions. He specializes in the accounting for M&A, consolidations, corporate reorganizations, recapitalizations, joint ventures, and other investments.

Alexander Martin is a partner in PwC's Deals practice with over a decade of deals experience, helping clients solve complex accounting, financial reporting, and other business issues that arise from transaction-driven events such as mergers and acquisitions, divestitures, and capital raises.

About our host

Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

GHG Protocol updates are reshaping the outlook for GHG reporting, including a move toward a consolidated corporate standard, with an exposure draft expected in 2027 and a final standard planned for 2028. This episode covers the updated roadmap and developments related to scope 2, scope 3, book-and-claim market instruments, the Land Sector and Removals Standard, and California SB 253, as well as steps companies can take now as these requirements and proposals continue to evolve.

For more on GHG emissions reporting, see chapter 7 of our Sustainability reporting guide and the GHG Protocol’s GHG Protocol Corporate Suite of Standards and Guidance Update Process for the latest proposals and working group materials. For more information on California’s SB 253, see our publication, California SB 253—CARB rulemaking for 2027 and beyond.

Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guest

Colin Powell is PwC Canada’s Technical Net Zero Leader. His work focuses on GHG quantification, life cycle assessment across many impact categories, GHG target setting, and developing decarbonization strategies. He has supported companies in quantifying over 1 billion tonnes of GHG emissions and worked previously as a consultant supporting global clients to understand their GHG emissions and how they can decarbonize. Colin sits on the GHG Protocol’s Scope 3 Technical Working Group, helping to shape the revision of the global standards used to account for GHG emissions. Colin is also a Professional Engineer (Ontario) and holds a PhD in wastewater treatment modeling.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Environmental credits accounting is changing with the introduction of ASC 818 (created by ASU 2026-02). New FASB guidance establishes a consistent accounting model for environmental credits and related obligations, addressing recognition, measurement, presentation, and disclosure. This episode explores key aspects of the new standard, including the intent-based recognition model, accounting for voluntary versus compliance credits, environmental credit obligations, and considerations for adoption.

For more, see our publication Environmental credits accounting: FASB issues new standard and chapter 7 of PwC’s Property, plant, equipment and other assets guide.

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About our guests

Michael Pratt is a partner in PwC's National Office, working on sustainability methodology and thought leadership. His background is in the power and utility sector where he works with companies helping to shape the evolution of how we produce and consume energy. He continues to focus on emerging power and utility sector accounting questions and issues.

Logan Redlin is a director in PwC’s National Office where he focuses on thought leadership strategy and content development related to accounting and financial reporting, sustainability reporting, and standard setting. Prior to this role, Logan spent 15 years in the audit practice, serving both public and private companies with a primary focus on asset management and real estate.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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New cybersecurity audit requirements under the California Consumer Privacy Act (CCPA) establish a recurring, independent assessment of certain organizations’ cybersecurity programs, with the first audit period beginning January 1, 2027. We discuss which organizations may be subject to the requirements, key considerations on audit scope and independence, and how existing cybersecurity, risk, and assurance activities can support readiness.

For more on California’s cybersecurity audit requirements, see our publication Privacy becomes a cybersecurity imperative under California’s audit rule.

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About our guests

Mark Cornish is a partner at PwC who provides assurance and consulting services to global and regional clients within the financial services industry. He is recognized for his experience in complex third-party assurance reporting, internal controls, and risk and compliance matters. His areas of expertise include internal control over financial reporting, SOC 1 and SOC 2 reporting, cybersecurity risk management, privacy, and regulatory compliance.

Chris Santucci is a partner in PwC’s Cyber, Data & Technology Risk practice who helps global companies across sectors build, operate, and assess data privacy and protection programs through technology-enabled solutions. His expertise spans global privacy program design and regulatory preparedness (including CCPA, GDPR, etc.), data discovery and risk analysis, program assessment and implementation, privacy impact assessments, third-party risk management, as well as sustainable risk and compliance services.

About our guest host

Diana Stoltzfus is a partner in PwC’s National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. She is also one of the firm’s technical experts on sustainability reporting. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Certain non-EU groups may not be in scope of ESRS but will need to comply with new EU reporting standards that are under development now (draft ESRS-40a). Reporting will begin with financial year 2028 for reporting in 2029. This episode examines the proposed scope and reporting choices in the draft 40a standards, including the focus on material impacts and the option to limit certain disclosures to EU-related impacts. We also share insights on steps companies can take now as the standards are being developed.

For more on the proposed EFRS-40a standards, see our publication ESRS-40a—EFRAG proposes standards for non-EU groups.

Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guest

Diana Stoltzfus is a partner in PwC’s National Office who helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings and policy development, and implementation related to significant new rules and regulations. She is also one of the firm’s technical experts on sustainability reporting. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the OCA’s Professional Practices Group.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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The revised European Sustainability Reporting Standards (ESRS (2026)) introduce significant revisions, simplifications, clarifications, and new reporting reliefs for companies reporting—or preparing to report—under the CSRD. This episode discusses the European Commission’s July 2026 revisions, including changes to the materiality assessment, more flexibility to entities in relation to GHG emissions reporting, anticipated financial effects, and phase-in provisions. It also explains the reporting choices and reliefs available.

For more on the revised ESRS, see our publication ESRS (2026)—a deep dive into the revised standards.

Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guests

Katie Woods is a senior director in PwC's Global Corporate Reporting Services - Sustainability group advising on sustainability and international accounting standards. Katie specializes in the new and emerging ESG reporting frameworks working across the PwC network. She has over 30 years of experience working with a broad range of companies.

Katie DeKeizer is a director in PwC’s Corporate Reporting Services team. She works on sustainability reporting under multiple frameworks including ESRS, the IFRS Sustainability Disclosure Standards, and the GHG Protocol. She has experience developing technical guidance and delivering training on sustainability reporting.

About our host

Heather Horn is the PwC National Office Sustainability and Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

Did you enjoy this episode? Text us your thoughts and be sure to include the episode name.

A video of this podcast is available on YouTube, Spotify, or PwC’s website at viewpoint.pwc.com.

It’s that time of year, with many focused on year-end reporting. After wrapping up our Year-end toolkit series, we revisit another set of conversations that are especially relevant right now. We’re re-releasing the kickoff episode from our SEC now series.

This first episode sets the stage with an overview of current developments shaping SEC reporting. Our guests unpack recent leadership changes, the evolving rulemaking agenda, reporting themes, and key trends in SEC comment letters.

In this episode, we discuss:

• 1:59 – SEC leadership updates
• 7:28 – Rulemaking agenda and expected priorities
• 14:25 – Rulemaking challenges: staff capacity and shutdown constraints
• 16:57 – SEC comment letter themes and focus areas

For more on this topic listen to the other episodes in our SEC now and Inside SEC reporting series.

Be sure to follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to stay in the loop.

About our guests

Scott Feely is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience supporting clients as they address the SEC and financial reporting implications of their capital markets and merger and acquisition-related activities.

Lindsay McCord is a PwC National Office partner specializing in matters related to the SEC and the capital markets. Prior to joining PwC, Lindsay spent over 15 years at the SEC, most recently as the Chief Accountant in the Division of Corporation Finance. In this role, Lindsay led an accounting team in providing technical accounting and reporting support to the Division, including SEC rulemaking, interpretation, and guidance.

About our guest host

Kyle Moffatt is PwC’s Professional Practice leader, leading a team responsible for working with standard setters and regulators as well as delivering brand-defining thought leadership and educational materials. He also consults with engagement teams and audit clients on SEC reporting matters. Before PwC, Kyle spent almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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