IAASB welcomes consultation on public interest entity definition

Released 01 February 2021

The International Auditing and Assurance Standards Board (IAASB) has welcomed the release by the International Ethics Standards Board for Accountants (IESBA) of its Exposure Draft: Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code.

The Draft broadens the definition of a public interest entity (PIE) to include more categories of entities, given the level of public interest in their financial condition. It also replaces the term “listed entity” as a PIE category with “publicly traded entity” and redefines the category.

Further information, including a link to the Exposure Draft can be found at https://www.iaasb.org/news-events/2021-02/iaasb-encourages-broad-stakeholder-participation-iesba-consultation-public-interest-entity.

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