Berufsrecht
Berufsrecht
16 April 2024

Statement:
Consultation of the IAASB on limited Changes due to the Amended PIE Definition (Track 2)

On April 8, 2024, the WPK commented on limited changes due to the amended PIE definition (Track 2) as part of the IAASB's consultation. The amendments are primarily intended to align the definitions and requirements of the IAASB pronouncements (in particular ISQM 1 and ISQM 2, ISA 200, ISA 260 (Revised), ISA 700 and ISRE 2400 (Revised)) with the new definitions for listed entities and public interest entities (PIEs) in the IESBA Code of Ethics.

Harmonization of IAASB and IESBA pronouncements

The WPK generally welcomes the harmonization of the technical pronouncements of the IAASB and IESBA. The WPK has provided selective comments on individual requirements and suggested individual clarifications. The WPK rejects the amendments relating to ISRE 2400 (Revised) due to their lack of relevance. The WPK also opposes the tightening of the requirements for confirming independence for non-PIE audits, as these cannot be derived from the amended PIE definition.

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