Public interest entity (PIE) definition

Public interest entities are defined in article 2 of the Statutory Audit Directive 2006/43/EC (as amended by the Statutory Audit Amending Directive 2014/56/EU) as: • entities governed by the law of a Member State whose transferable securities are admitted to trading on a regulated market of any Member State within the meaning of point 14 of Article 4(1) of Directive 2004/39/EC • credit institutions as defined in point 1 of Article 3(1) of Directive 2013/36/EU of the European Parliament and of the Council, other than those referred to in Article 2 of that Directive • insurance undertakings within the meaning of Article 2(1) of Directive 91/674/EEC, or • entities designated by Member States as public-interest entities, for instance undertakings that are of significant public relevance because of the nature of their business, their size or the number of their employees Since 1 January 2021 the definition of a PIE has changed so that companies and other entities that were PIEs only because they issued securities on EU regulated markets and not on UK regulated markets, and which are not banks, building