Listed Entities and PIES - IAASB

Date recorded:

At its meeting on June 13-17, 2022, the IAASB discussed and approved an Exposure Draft (ED) for track 1 of its project on listed entity and PIE. The ED proposes narrow scope amendments to ISA 700 (Revised) and ISA 260 (Revised) as a result of the revisions to the IESBA Code that require a firm to publicly disclose when a firm has applied the independence requirements for PIEs. The Exposure Draft will be published in July 2022 for a  90-day public comment period. In December 2022 the PIE Task Force intends to present to the Board proposals for track 2 of the project on listed entity and PIE, including: (i) Whether the IAASB should adopt the IESBA definitions of “publicly traded entity” and PIE; (ii) The objective and guidelines for establishing differential requirements for certain entities in the ISQMs and ISAs; and (iii) Which entities the extant differential requirements for listed entities in the ISQMs and ISAs should apply to, using a case-by-case approach, and consequential considerations for the application and introductory material in these standards.

Review the summary, including the podcast, on the IAASB's Web site.

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