Representation ―Statement by the responsible party, either oral or written, provided to the assurance practitioner to confirm certain matters or to support other …

Responsible party ―The party responsible for the performance of all or part of the activity, which is the subject matter of the performance …

Subject matter or underlying subject matter ―The activity which is evaluated or measured against the identified criteria. …

Variation ―An instance where the performance of the underlying subject matter exceeds the identified criteria or is deficient in whole or part, as evaluated against the identified …

Assumptions mean expectations made by the responsible party as to future events and actions expected to take place as at the date the prospective financial information is prepared and exclude hypothetical assumptions, unless otherwise stated [3] . …

Assurance report means a written report prepared by an independent assurance practitioner that provides assurance on a single type of financial information (individual assurance report) or on multiple types of financial information (either a composite …

AUASB Standards means standards issued by the Auditing and Assurance Standards Board (AUASB) comprising: Australian Auditing Standards; Standards on Review Engagements; Standards on Assurance Engagements; and Standards on Related …

Base financial information means financial information that is used as the starting point for the application of pro forma adjustments [4] by the responsible party.  Base financial information is ordinarily historical in nature, however, it can also be …

Corporate fundraising (“fundraising”) means any transaction involving shares, debentures, units or interests in a management investment scheme undertaken to raise debt or equity funds, or issue equity, and/or offer and/or respond to an offer of, cash …

Different elements of prospective financial information means: the assumptions used in the preparation of the prospective financial information; (element 1) the stated basis of preparation and the assumptions referred to in (i) above; (element 2) and its …