Definitions of Listed Entity and Public Interest Entity


The objectives of the IESBA’s Definitions of Listed Entity and PIE Project are:

(a)       To review, in coordination with the IAASB, the definitions of the terms “listed entity” and “PIE” in the Code with a view to revising them as necessary so that they

    remain relevant and fit for purpose; and

(b)       In doing so, to:

(i)        Establish agreement between the IESBA and IAASB on a common revised definition of the term “listed entity” that would be operable for both Boards’

    standards; and

(ii)       Develop a pathway that would achieve convergence between the concepts underpinning the definition of a PIE in the Code and the description of an

    ESPI in the IAASB standards to the greatest extent possible.

The project is focused on audits of financial statements and auditor independence.

Project Contact

Task Force

Correspondent members:

Project Stages

Board Papers

June 2021

Board Minutes

June 2021 (Available September 2021)

IESBA June 2021 Meeting Highlights

The IESBA considered a high level overview of the key issues and comments raised by respondents to the January 2021 Exposure Draft, Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code (PIE ED) and the Task Force’s preliminary views about how to address them. Among other matters, the IESBA considered respondents’ feedback on the overarching objective for PIE requirements in the Code; the approach to developing the PIE definition; the proposed replacement of the term “listed entity” with “publicly traded entity” in the Code; the proposed categories in the PIE definition; and the role of firms with respect to identifying additional entities as PIEs and public disclosure when an entity has been treated as such.

The IESBA will undertake a full review of respondents’ comments and a revised draft of the proposed changes to the Code at its September 2021 meeting.


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