Reliability under the Australian Accounting Standards Board’s Framework for the Preparation and Presentation of Financial Statements means information has the quality of reliability “… when it is free from material error and bias and can be depended upon …

For the purposes of this Guidance Statement, the following items have the meanings attributed below: …

Assurance engagement means an engagement in which an assurance practitioner [5] aims to obtain sufficient appropriate evidence in order to express a conclusion designed to enhance the degree of confidence of the intended users other than the responsible …

Auditor means an independent auditor(s) appointed by a life company to meet the prudential reporting requirements under LPS 310 [6] …

Engagement risk means the risk that the assurance practitioner expresses an inappropriate conclusion when the subject matter information is materially …

For the purpose of this GS, the following terms have the meanings attributed below: …

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) …