True to form, it is no surprise that ‘public interest entity’ (which, by EC requirement, must include all listed companies but other entities only at the discretion of individual member states) has been defined in the United Kingdom in the minimal permissible way – it excludes large privately held companies, mutuals, large professional partnerships and so on – about all of which the public has a real interest – as the current financial crisis has clearly shown. Think, for instance, of the need to widen choice in the audit market.
Chambers, A. (2012), "Chapter 2 The Global Financial Crisis: A Failure of Corporate Governance?", Aras, G. and Crowther, D. (Ed.) Business Strategy and Sustainability (Developments in Corporate Governance and Responsibility, Vol. 3), Emerald Group Publishing Limited, Bingley, pp. 23-44. https://doi.org/10.1108/S2043-0523(2012)0000003006Download as .RIS
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