Fraud – an intentional act by one or more individuals among those charged with governance, management, employees, or third parties, involving the use of deception to obtain unjust or illegal …

Further procedures – procedures performed in response to assessed risks of material misstatement, including tests of controls (if any), tests of details and analytical …

General purpose water accounting report – a water accounting report intended to meet the information needs common to users who are unable to command the preparation of water accounting reports tailored to satisfy their information needs. A general purpose …

Initial assurance engagement – an engagement in which either: the general purpose water accounting report has been prepared and assured for the first time; the general purpose water accounting report for the prior period was not assured; or the general …

Lead assurance practitioner – the person in the firm who is responsible for the assurance engagement and its performance, and for the assurance report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a …

Management – for the purposes of this Standard, management refers to those with executive responsibility for the preparation and presentation of the general purpose water accounting report, including water accounting and reporting, unless otherwise …

Management’s expert – an individual or organisation possessing expertise in a field other than water accounting or assurance, whose work in that field is used by management or those charged with governance to assist them in preparing the general purpose …

Materiality – information is material if its omission from, or misstatement in, a general purpose water accounting report has the potential to influence decisions of users of that report, or the discharge of accountability by management or those charged …

Misstatement – a difference between the general purpose water accounting report and the appropriate measurement or evaluation of the underlying subject matter against the criteria. Misstatements can be intentional or unintentional, qualitative or …

Opening balances – account balances that exist at the beginning of the period. Opening balances are based upon the closing balances of the prior period and matters requiring disclosure that existed at the beginning of the period, such as contingencies and …