LATEST UPDATE
IAASB Adopts New Publicly Traded Entity Definition
Narrow Scope Amendments to the ISQMs, ISAs and ISRE 2400 (Revised) Published
The International Auditing and Assurance Standards Board (IAASB) has released narrow scope amendments to its standards, revising the definition of listed entity, available on:
This definition aligns with the definition in the International Ethics Standards Board for Accountants’ (IESBA) Code of Ethics for Professional Accountants (including International Independence Standards), and will amend the International Standards on Quality Management (ISQM) and International Standards on Auditing (ISAs). In addition, amendments to International Standard on Review Engagement 2400 (Revised), Engagements to Review Historical Financial Statements, aim to align with the IESBA Code of Ethics regarding certain public disclosures about the application of independence requirements.
The IAASB aimed to align, and coordinate key concepts in the IAASB’s and IESBA’s standards.
The narrow scope amendments become effective for engagements for periods beginning on or after 15 December 2026. This effective date is aligned with the effective dates for the IAASB’s ISA 570 (Revised 2024) and ISA 240 (Revised), respectively.
