Risks arising from the use of IT – Susceptibility of information processing controls to ineffective design or operation, or risks to the integrity of information (i.e., the completeness, accuracy and validity of transactions and other information) in the …

Risk assessment procedures – The audit procedures designed and performed to identify and assess the risks of material misstatement, whether due to fraud or error, at the financial report and assertion …

Significant class of transactions, account balance or disclosure – A class of transactions, account balance or disclosure for which there is one or more relevant …

Significant risk – An identified risk of material misstatement: (Ref: Para. A10) For which the assessment of inherent risk is close to the upper end of the spectrum of inherent risk due to the degree to which inherent risk factors affect the combination …

System of internal control – The system designed, implemented and maintained by those charged with governance, management and other personnel, to provide reasonable assurance about the achievement of an entity’s objectives with regard to reliability of …

Audit Office of the Auditor-General ( Audit Office ) – Public sector equivalent of ‘firm’ (as defined in 137(h) below). Auditor-General and staff employed by the Auditor-General to perform audit engagements or audit procedures for or on behalf of the …

Auditor-General – The individual appointed as the Auditor-General (the appointed statutory auditor) or acting as such. …

Audit Service Provider [53] – Private sector auditor or firm who has been contracted to perform an audit engagement or audit procedures for or on behalf of the …

Engagement Leader – In the context of this GS, the term ‘Engagement Leader’ is used to refer to the individual assigned responsibility for the audit engagement and its performance in practice, and who is either the Signing Officer (as defined in 137(i) …

Engagement Partner – Defined in ASQM 1/ASA 220 [54] as “the partner or other individual, appointed by the firm, who is responsible for the audit engagement and its performance, and for the auditor’s report that is issued on behalf of the firm, and who, …