International Board Eyes More Vital Firms for Tougher Audits

Public Interest Enterprises (PIEs), or companies of national importance, will be defined more broadly as regulators tighten restrictions on their auditors.

The International Ethics Standards Board for Accountants (IESBA) said Friday that it wanted to widen the definition of PIEs, which require tougher audit scrutiny. IESBA is an independent standard setter and its International Code of Ethics for Professional Accountants is used by countries including the U.K. and US. It is supported by the International Federation of Accountants, which represents around 3 million accountants in 130 countries.

• “The PIE concept is central to the International Independence Standards, as ...