Audit of subsidiary of foreign listed co
I have a UK ltd co client which is the subsidiary of a group that is listed in Denmark. It is very small and only requires an audit because it is a member of an ineligible group.
I see in the Ethical Standards that an affiliate of a listed company cannot take advantage of ESPASE. However 'listed company' seems to be defined in terms of being listed on a UK or Irish exchange. The definition is reproduced below and makes reference to 'equivalent body'. Does 'equivalent body' mean an overseas exchange?
Is there any further guidance/authority on this point?
An entity whose shares, stock or debt are quoted or listed on a UK or Irish recognised stock exchange, or are marketed under the regulations of a UK or Irish recognised stock exchange or other equivalent body. This includes any company in which the public can trade shares on the open market, such as those listed on the London Stock Exchange (including those admitted to trade on the Alternative Investments Market), PLUS Markets and the Irish Stock Exchange (including those admitted to trade on the Irish Enterprise Exchange).