The Three-Tier Structure

A constantly evolving ecosystem with the Public Interest at its core

We work to achieve our goals in a collaborative model sustained on three pillars: The Internationial Standard Setting Boards (SSB), the International Regulatory Community (Monitoring Group) and the PIOB, the oversight body.

The Three-Tier Standard Setting model

1.Monitoring

A group of international public interest and financial institutions (the Monitoring Group), responsible for monitoring the overall structure and to which the PIOB is accountable.

2.Oversight

An independent oversight body (the Public Interest Oversight Board), responsible for overseeing the standard-setting processes by the two standard-setting boards as their nominations processes.

3.Standard Setting

The two standard-setting boards (IAASB and IESBA) responsible for setting international high – quality standards for audit and assurance and professional ethics.

The Monitoring Group recommendations published on July 14, 2020, included a Public Interest Framework for the Development of International Audit-Related Standards (Appendix D, pages 18-25) to establish and oversee that the audit-related standards are responsive to the public interest. See the Public Interest Framework.

The work process

An accurate approach that we try to improve every single day

1) PIOB Oversight of the SSB projects and SSB strategies and Workplans using the PIOB Methodology.

All standard projects are developed by Standard Setting Boards (SSBs) and then  subject to a public consultation. Any stakeholder can participate. PIOB oversight is applied throughout the whole process to ensure standards are in the public interest.[read more].

The strategies and work programs of the SSBs help to ensure that their work is responsive to the Public Interest. The PIOB oversees their development and has the responsibility to determine whether strategic plans are complete. [read more].

The PIOB Methodology

three actions, one goal:

high-quality global standards in the Public Interest

2) PIOB Oversight of the Nominations Process

The Nominating Committee identifies and recommends candidates with the best qualifications to be a part of the SSBs. The quality and public interest-mindedness of SSB members are, ultimately, the most critical elements ensuring the responsiveness of standard setting to the public interest.
[read more].