Auditors following global standards will want to review new guidance released by the International Ethics Standards Board for Accountants (IESBA) that broadens the definition of a public interest entity (PIE) and complements other recently revised provisions to the International Code of Ethics for Professional Accountants.
The IESBA’s newly revised definition of a PIE now includes more categories of entities “whose audits should be subject to additional independence requirements to meet stakeholders’ heightened expectations concerning auditor independence,” the IESBA stated.
