It stands for public interest entity; an entity that is perceived to involve a significant public interest because of the nature of its business, size (e.g., turnover) or number of employees or corporate status. Examples include banks, insurance firms, pension funds, collective investment schemes, issuers of debt and equity instruments to the public, and listed companies (i.e., entities whose shares, stock or debt are quoted or listed on a regulated market).

The designation “public interest entity” may be extended by regulation or legislation in a certain country, or an entity may be required by regulation or legislation to be audited in compliance with specific requirements that apply to the audit of listed entities. However, even specific types of nonlisted entities may not be exempted from such requirements.