Post-Exposure Consultation: Invitation to Comment Before the IAASB Finalizes the Narrow Scope Amendments to the ISQMs and ISAs as a Result of the Revisions to the Definitions of Listed Entity and Public Interest Entity in the IESBA Code

This consultation sets out the IAASB’s final position, rationale, and pathway to broader differential requirements relating to the definitions of listed and public interest entities in the International Standards on Quality Management (ISQMs) and International Standards on Auditing (ISAs). It includes an Invitation to Comment for stakeholders to share observations that might be relevant to the IAASB prior to finalizing the narrow scope amendments to the ISQMs and ISAs, and to answer a few specific questions about related forward-looking matters.

The IAASB’s final position is different from the position that was presented in the Exposure Draft of the IAASB PIE Track 2 Project due to a divergence issue between the IAASB PIE proposals and the IESBA PIE Revisions. The IAASB’s Post-Exposure Consultation provides stakeholders the opportunity to familiarize themselves with the identified divergence issue and how this has informed the IAASB as it advanced the IAASB PIE proposals, including the IAASB’s rationale in arriving at its final position.