A public interest entity (PIE) is an entity 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. 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.

Examples of PIEs include the following:

• Banks.
• Insurance firms.
• Pension funds.
• Collective investment schemes.
• Issuers of debt and equity instruments to the public.
• Listed companies (i.e., entities whose shares, stock or debt are quoted or listed on a regulated market).
• Regulators of financial institutions under the powers granted by legislation.
• Regulators of financial or capital markets under the powers granted by legislation.
• Regulated funds.