Final Pronouncement: Revisions to the Definitions of Listed Entity and Public Interest Entity in the IRBA Code

In October 2023, the Independent Regulatory Board for Auditors (IRBA) approved the Revisions to the Definitions of Listed Entity and Public Interest Entity (PIE) in the IRBA Code of Professional Conduct for Registered Auditors (IRBA Code) for prescription and use by registered auditors. A Board Notice to the same effect will be published in the Government Gazette.

The revisions are available on:
https://www.irba.co.za/guidance-for-ras/ethics:-the-rules-and-the-code/the-irba-code-revised-april-2023

These revisions comprehensively revise the definitions, approach, categories and thresholds applicable to these entities, and will impact many engagement partners and firms, and involve engagement with those charged with governance and users.

The Revisions to Listed Entity and Public Interest Entity Definitions in the IRBA Code (Revised April 2023) are effective for audits of financial statements for periods beginning on or after 15 December 2024. The Final Pronouncement is available in a PDF format and may be downloaded from the IRBA website on the above link.

Should you have any further queries, email standards@irba.co.za