221 definitions found.
ASA 330
Definition
4(b)
Test of controls means an audit procedure designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion …
ASA 230
Definition
6(a)
Audit documentation means the record of audit procedures performed, relevant audit evidence obtained, and conclusions the auditor reached (terms such as “working papers” or “workpapers” are also sometimes …
ASA 230
Definition
6(b)
Audit file means one or more folders or other storage media, in physical or electronic form, containing the records that comprise the audit documentation for a specific …
ASA 230
Definition
6(c)
Experienced auditor means an individual (whether internal or external to the firm) who has practical audit experience, and a reasonable understanding of: Audit processes; Australian Auditing Standards and applicable legal and regulatory requirements; The …
ASA 220
Definition
7(a)
Engagement partner [2] means the partner or other person in 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, where required, has the appropriate authority …
ASA 220
Definition
7(b)
Engagement quality control review means a process designed to provide an objective evaluation, on or before the date of the auditor’s report, of the significant judgements the engagement team made and the conclusions it reached in formulating the …
ASA 220
Definition
7(c)
Engagement quality control reviewer means a partner, other person in the firm, suitably qualified external person, or a team made up of such individuals, none of whom is part of the engagement team, with sufficient and appropriate experience and authority …
ASA 220
Definition
7(d)
Engagement team means all partners and staff performing the engagement, and any individuals engaged by the firm or a network firm who perform audit procedures on the engagement. This excludes an auditor’s external expert engaged by the firm or a network …
ASA 220
Definition
7(f)
Inspection means, in relation to completed audit engagements, procedures designed to provide evidence of compliance by engagement teams with the firm’s quality control policies and …