During the first quarter of the 2024 calendar year, the Financial Accounting Standards Board (FASB) issued two accounting standards updates on the following topics:
- Profits interest awards
- Amendments to remove references to the concept statements
The SEC:
- Remarked on environmental, social, and governance (ESG) disclosures and enforcement
- Released a statement on commitment to professional skepticism and audit quality
- Adopted final rules on climate-related disclosures, order execution information disclosure, definition of “dealer,” and special purpose acquisition company (SPAC) transactions.
- Amended Form PF requirements and SEC employee ethical conduct standards
- Proposed to increase the dollar threshold used in the qualifying venture capital funds definition
- Denied a petition to amend the no admit/no deny policy
This report also covers updates from the Public Company Accounting Oversight Board.
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