The Institute is seeking comments on the International Ethics Standards Board for Accountants (IESBA) Exposure Draft Proposed Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code by 3 April. The proposed revisions broaden the definition of a public interest entity (PIE) in the International Code of Ethics for Professional Accountants (Including International Independence Standards) to include more categories of entities. The IESBA recently released a new staff publication providing additional context to the proposals, supplementing the guidance material in the explanatory memorandum of the exposure draft. Members are invited to join the Institute’s roundtable on 7 April to share their views with Deputy Chair of the IESBA, members of HKICPA Ethics Committee and other participants. Members attending the roundtable will be entitled up to 1 CPD hour. The IESBA will also hold global webinars on 25 and 29 March on key proposals in the exposure draft. During the webinars, the task force chair will discuss:
- The overarching objective for additional independence requirements for audits of PIEs
- Approach to revising the PIE definition and the introduction of a new term “publicly traded entity” to replace “listed entity”
- Anticipated role of regulators, national standard setters and other relevant local bodies to refine the PIE definition as part of the adoption process
- Increased role of firms
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