Private Equity & Other External Investments

The objective of the workstream is to enhance the IESBA’s understanding of private equity and other external investments (PE&OEI) in accounting firms, including their structures, ownership arrangements, governance and control characteristics, and related ethical and independence implications.

The PT will coordinate closely with the IAASB on the information gathering, given potential matters of mutual interest from a quality management perspective and broader audit quality considerations. This will include, as appropriate, IAASB participation in the information-gathering activities.

Project Team

• Jon Reid
• Jeanne Viljoen
• Elaine Cahoon

Board Advisors

• Saadiya Adam
• Mark Babington
• Luigi Nisoli

IESBA Board Advisor to the IESBA’s FCG workstream acting as a liaison member to this workstream: Channa Wijesinghe

IESBA June 2026 Meeting Highlights

The IESBA considered and approved the Terms of Reference for the PE&OEI workstream with the objectives of gathering information on the ethical and independence implications arising from PE&OEI, and developing recommendations to inform the IESBA’s future work on this topic.

The Project Team will coordinate closely with the IAASB on the information gathering, given potential matters of mutual interest from a quality management perspective and broader considerations relating to audit and other assurance quality.

The IESBA will consider an update from the PE&OEI workstream at its September 2026 meeting.