This edition discusses financial reporting developments that occurred in the first quarter of 2024.

Recent accounting, auditing, and regulatory developments addressed in this issue include:

• The SEC’s issuance of (1) a landmark final rule that requires registrants to provide climate-related disclosures in their annual reports and registration statements and (2) a final rule that enhances the requirements related to special-purpose acquisition companies.
• SEC Chief Accountant Paul Munter’s recent statement on audit quality.
• The FASB’s release of (1) a proposed measurement chapter of its conceptual framework, (2) a proposed Accounting Standards Update (ASU) that would enhance the guidance on induced conversions of convertible debt instruments, and (3) a final ASU that clarifies whether profits interests and similar awards should be accounted for as share-based payment arrangements.
• The issuance of a new set of global internal audit standards by the Institute of Internal Auditors.

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