The Authority Approves Amendments to the Parts Relating to the Definition of Public Interest Entities

الهيئة تعتمد تعديلات على الأجزاء المتعلقة بتعريف المنشآت ذات الاهتمام العام

SOCPA, represented by its Professional Conduct and Ethics Committee, adopted amendments made by the International Ethics Standards Board to the parts of the International Code of Ethics relating to the definition of public interest entities, part of a wider IFAC project to clarify related concepts. The Committee approved the definition in paragraph (400/17) of the revised Code, with a partial amendment stating that an entity is treated as a public interest entity if it is publicly traded, takes deposits from the public as a principal function, provides insurance services to the public as a principal function, is designated as such by laws, regulations, or professional standards, or is required to be audited under independence requirements equivalent to those for a listed entity.

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