External confirmation means audit evidence obtained as a direct written response to the auditor from a third party (the confirming party), in paper form, or by electronic or other …

Positive confirmation request means a request that the confirming party respond directly to the auditor indicating whether the confirming party agrees or disagrees with the information in the request, or providing the requested …

Negative confirmation request means a request that the confirming party respond directly to the auditor only if the confirming party disagrees with the information provided in the …

Non-response means a failure of the confirming party to respond, or fully respond, to a positive confirmation request, or a confirmation request returned …

Exception means a response that indicates a difference between information requested to be confirmed, or contained in the entity’s records, and information provided by the confirming …

For the purposes of the Australian Auditing Standards, the following terms have the meanings attributed below: …

Audit sampling (sampling) means the application of audit procedures to less than 100% of items within a population of audit relevance such that all sampling units have a chance of selection in order to provide the auditor with a reasonable basis on which …

Population means the entire set of data from which a sample is selected and about which the auditor wishes to draw conclusions. …

Sampling risk means the risk that the auditor’s conclusion based on a sample may be different from the conclusion if the entire population were subjected to the same audit procedure.  Sampling risk can lead to two types of erroneous conclusions: In the …

Non-sampling risk means the risk that the auditor reaches an erroneous conclusion for any reason not related to sampling risk. (Ref: Para . A1 …