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ISCA Issues EP 100 IG 4 (Revised), Clarification on Financial Institutions Considered as PIEs

Professional firms auditing public interest entities (PIEs) are subject to higher independence requirements, such as stricter rotation requirements and prohibition from providing certain non-assurance services.

EP 100 Implementation Guidance (IG) 4 Clarification on Financial Institutions Considered as Public Interest Entities clarifies the scope of entities that falls within the definition of a financial institution (FI) in EP 100 (Revised on 14 August 2020), and hence, are considered as PIEs.

The Glossary of EP 100 (Revised on 7 July 2021) contains amendments to the definition of a FI to be aligned with the Revised ACRA Code issued on 26 February 2021 to spell out the respective legislation for each FI and to re-order the categories of FIs in alphabetical sequence.

ISCA has issued EP 100 IG 4 (Revised) with an updated list of FIs which corresponds to the definition of a FI in EP 100 (Revised on 7 July 2021).

Please click here for the EP 100 IG 4 (Revised).


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