New leadership and strategic priorities are shaping the PCAOB's approach to audit oversight. We discuss updates to audit firm quality control requirements, developments in standard setting and AI in auditing, and efforts to modernize inspections—and what these changes could mean for companies, audit committees, and auditors.

• 5:50 – New PCAOB leadership and priorities
• 14:04 – PCAOB strategy and stakeholder engagement
• 17:30 – Standard setting—independence, fraud, and NOCLAR
• 22:48 – AI and technology in auditing
• 27:35 – Modernizing PCAOB inspections

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About our guest

Brian Croteau is the US Chief Auditor. He oversees the establishment and maintenance of PwC’s audit policies and practices, leads efforts to directly support PwC’s audit quality objectives, and plays a key role in the monitoring and assessment of audit quality. He also leads the firm’s efforts related to its relationship with the PCAOB, including supporting all aspects of the PCAOB’s inspection process. Brian currently serves as a member of the PCAOB’s Standards and Emerging Issues Advisory Group (SEIAG) and the SEIAG’s Emerging Issues in Auditing subcommittee. Prior to rejoining PwC, he served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC where he played a key role in the SEC’s oversight of the activities of the PCAOB, managed the resolution of auditor independence issues and ethical matters, and monitored audit and independence standard setting internationally.

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, she served as the Deputy Chief Accountant of the Professional Practice Group within the Office of the Chief Accountant at the SEC.

Transcripts

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How are companies putting sustainability into practice to create business value? Nicole Vadori, Head of Enterprise Sustainability at TD Bank Group, shares her perspectives and experiences on integrating sustainability into business priorities, building stakeholder trust, and identifying risks and opportunities. Drawing on examples from her experience, we explore the role of sustainable finance, double materiality assessments, and sustainability capabilities in addressing emerging issues such as responsible AI.

Key topics and timestamps

• 1:27 — From corporate values to business value
• 6:11 — Building stakeholder trust through responsible business practices
• 9:30 — Aligning sustainability priorities with business strategy
• 12:03 — Using double materiality to identify risks and opportunities
• 14:12 — Putting sustainable finance into practice
• 167:11 — Applying sustainability capabilities to emerging risks, including responsible AI

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About our guest

Nicole Vadori is Vice President and Head of Enterprise Sustainability at TD Bank Group, where she focuses on integrating sustainability into the business to support growth and resilience. As a Professional Engineer, Nicole’s experience spans environmental strategy, sustainable finance, climate-related risk, and the transition to a lower-carbon economy.

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

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While relatively few new accounting standards have been issued this year, the FASB has been busy, with several proposals expected before year end and other projects underway. We discuss key projects on the FASB's agenda, potential changes to US GAAP, and why companies should be paying attention during the development phase. We also explore how companies can get involved and provide feedback during the standard setting process.

Key topics and timestamps

• 2:24 – Cash equivalents, stablecoins, and disclosures
• 5:53 – Equity-linked instrument classification
• 10:58 – Equity method of accounting
• 15:52 – Debt modifications and extinguishments
• 22:06 – Goodwill impairment testing
• 25:21 – Fair value and contractual sale restrictions
• 26:00 – Transferable tax credits
• 27:34 – Business combinations and asset acquisitions
• 30:42 – Potential changes to the statement of cash flows
• 32:06 – Data infrastructure investments
• 33:16 – How companies can engage in FASB standard setting

Additional resources

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About our guests

Bret Dooley is a PwC National Office Deputy Chief Accountant who leads teams focused on the financial services sectors and accounting for financial instruments. He has over 25 years of experience in the financial services, banking, and capital markets industries. In his role, Bret focuses on emerging financial reporting issues related to financial instruments, developing interpretive guidance, and assisting clients in resolving complex accounting matters.

Jay Seliber is a partner in PwC’s National office. He leverages over 35 years of experience to help clients with their most complex accounting matters, particularly in the areas of mergers and acquisitions, consolidation, divestitures, revenue recognition, investments, restructurings, impairments, stock compensation, earnings per share, and financing transactions.

About our guest host

Angela Fergason is PwC’s standard setting leader, managing PwC’s strategy for engaging in accounting standard setting activities. A partner in PwC’s National Office, Angela is an experienced consultant on technical accounting and financial reporting matters, specializing in revenue recognition, employee compensation, and emerging issues impacting the technology industry.

Transcripts

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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