Public interest entity
A public interest entity is an entity designated as such under applicable professional, legal or regulatory definitions because of the public interest in its financial condition. Additional independence, reporting or other requirements may apply depending on the relevant code, jurisdiction and period.
Worked example
Before accepting a listed client, an audit firm assesses whether the applicable public-interest-entity independence provisions apply.
Common mistake
Do not assume the same entity categories or effective dates apply under every code and jurisdiction.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AAA (INT) | Supporting | September 2026–June 2027 |