The audit committee of a public interest entity (PIE) is now required to carry out a transparent tender procedure when selecting an audit firm. Public Interest Entity ("PIE") Auditor. Defined by regulation or legislation as a public interest entity; or For which the audit is required by regulation or legislation to be conducted in compliance with the same independence requirements that apply to the audit of listed entities. interest in certain entities which are defined to be public interest entities. List of public interest entities 4IMPRINT GROUP PLC ABERFORTH GEARED INCOME TRUST PLC AFRICAN BARRICK GOLD PLC AGGREKO PLC AMLIN PLC ARKLE MASTER ISSUER PLC ARM HOLDINGS PLC ASIA RESOURCE MINERALS Plc (formerly BUMI Plc) ASIAN TOTAL RETURN INVESTMENT COMPANY PLC (formerly Henderson Asian Growth Trust Plc) AVIVA PLC AVON … Hitherto, the FRC in the UK defined PIEs for most purposes as being listed companies (plus some other large entities for the purposes only of determining which of the FRC or the accountancy bodies undertake monitoring work). Public Interest Entity means: (a) A Listed Entity; or (b) An entity (a) defined by regulation or legislation as a public interest entity or (b) for which the audit is required by regulation or legislation to be conducted in compliance with the same Independence requirements that apply to … What is the definition of Public Interest Entities (PIEs) across Europe and what has changed with the new EU rules on statutory audit that became applicable in June 2016? Forms.

Entities designated by Member States as public-interest entities, for instance undertakings that are of significant public relevance because of the nature of their business, their size, or number of employees3 Definition of terms Term Definition Regulated market When applying accounting standards that refer to public entities, careful attention should be paid to the requirements to determine which definition applies and whether the definition includes conduit bond obligors within its scope. Both Board and stakeholders preferred the “Public Interest Entity” (PIE) to Significant Public Entity (SPIE) TF agreed to retain “PIE” but retain phrase “significant public interest” in 400.8 . TF acknowledged concerns with extending the inclusion of related entities from listed entities to PIEs The audit committee has to invite audit firms to tender for the audit and prepare tender documents on the basis of a transparent and … Factors to be considered include: Public interest entities (PIEs) As with previous audit regulation, a number of requirements differ for the audit of PIEs, compared to other audits. Generally, these are entities that have debt or equity securities that trade in public markets. Related Entity. IESBA "Public Interest Entity" and "Listed Entity" Definitions (part 1) At its June 2020 virtual meeting, the International Ethics Standards Board for Accountants (IESBA or the Board) continued its deliberations on two key definitions in the International Code of Ethics for Professional Accountant (including International Independence Standards) - Public Interest Entity (PIE) and Listed Entity. This paper presents the results of a survey we carried out on this topic across Europe. Firms are encouraged to determine whether to treat additional entities, or certain categories of entities, as public interest entities because they have a large number and wide range of stakeholders. You may also get the form via email to pieauditor@hkicpa.org.hk.

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