Tolerable misstatement means a monetary amount set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the monetary amount set by the auditor is not exceeded by the actual misstatement in the population. …

Tolerable rate of deviation means a rate of deviation from prescribed internal control procedures set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the rate of deviation set by the auditor is not …

A company limited by guarantee means a company limited by guarantee whose obligations are set out in section 285A of the Act. …

A registered company auditor includes an individual who meets the requirements of section 324BE of the Act. …

Revised Legislation means Corporations Amendment (Corporate Reporting Reform) Act 2010 . …

Accounting estimate – A monetary amount for which the measurement, in accordance with the requirements of the applicable financial reporting framework, is subject to estimation uncertainty. (Ref: Para.  A14 …

Auditor’s point estimate or auditor’s range – An amount, or range of amounts, respectively, developed by the auditor in evaluating management’s point estimate. (Ref: Para.  A15 …

Estimation uncertainty – Susceptibility to an inherent lack of precision in measurement. (Ref: Para.  A16 , Appendix 1 ) …

Management bias – A lack of neutrality by management in the preparation of information. (Ref: Para.  A17 ) …

Management’s point estimate – The amount selected by management for recognition or disclosure in the financial report as an accounting …