Definitions of Listed Entity and Public Interest Entity

Objective

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

Issued Document

Exposure Draft Supplementary Guidance

Webinars, Presentations & Videos

Global Webinars

Board Papers

March 2020 June 2020 September 2020 December 2020

Board Minutes

March 2020 June 2020 September 2020 December 2020

CAG Papers

March 2020 September 2020

CAG Minutes

March 2020 September 2020

Summary
IESBA December 2020 Meeting Highlights

The IESBA approved for exposure proposed revisions to broaden the Code’s definition of “public interest entity” (PIE) and to revise the definition of “listed entity.” The proposals were developed in close coordination with the International Auditing and Assurance Standards Board (IAASB) within the established coordination framework of the two Boards.

The Exposure Draft (ED) was released on January 29, 2021 and will be open for public comment until May 3, 2021.

 

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