Management’s expert means an individual or organisation possessing expertise in a field other than accounting or auditing, whose work in that field is used by the entity to assist the entity in preparing the financial …

Sufficiency (of audit evidence) means the measure of the quantity of audit evidence. The quantity of the audit evidence needed is affected by the auditor’s assessment of the risks of material misstatement and also by the quality of such audit …

For the purposes of this Auditing Standard, the following terms have the meanings attributed below: …

Aggregation risk – The probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial report as a whole. (Ref: Para. A19 …

Component – An entity, business unit, function or business activity, or some combination thereof, determined by the group auditor for purposes of planning and performing audit procedures in a group audit. (Ref: Para. A20 …

Component auditor – An auditor who performs audit work related to a component for purposes of the group audit. A component auditor is a part of the engagement team [10] for a group audit. (Ref: Para. A21–A23 …

Component management – Management responsible for a component. (Ref: Para. A24 ) …

Component performance materiality – An amount set by the group auditor to reduce aggregation risk to an appropriately low level for purposes of planning and performing audit procedures in relation to a …

Group – A reporting entity for which a group financial report is prepared. …

Group audit – The audit of a group financial report. …