Listed and public interest entity definitions – proposed revisions

Proposed revisions to the definitions of listed entity and public interest entity in PES 1


We propose to adopt the IESBA’s Revisions to the Definitions of Listed Entity and Public Interest Entity in the Code (including conforming and consequential amendments) in Professional and Ethical Engagement Standard 1 (PES 1). 

The IESBA’s approach to revising the public interest entity (PIE) definition has three key elements:

  • A top-down approach, which includes a list of high-level categories of entities as PIEs.
  • A bottom-up approach, recognising the important role of local jurisdictions to refine the IESBA categories for local circumstances.
  • Determination by firms whether any additional entities should be treated as PIEs.

Under this top-down and bottom-up approach, local jurisdictions are expected to revise the IESBA definition of PIE as part of the local adoption process. 

Having worked through the top-down and bottom-up approach, we propose to retain the existing New Zealand definition of PIE as we consider this to be broadly consistent with the new global definition.

We are seeking comments on the New Zealand specific content which is underlined in the Exposure Draft, so let us know what you think. 

Consultation Document


The comment period closed 15 August 2022.
No formal written submissions were received.