​​​​ Subservice organisation―a service organisation used by another service organisation to perform some of the services provided to user entities that are likely to be relevant to user entities’ internal control as it relates to financial …

​ Test of controls―a procedure designed to evaluate the operating effectiveness of controls in achieving the control objectives stated in the service organisation’s description of its …

User auditor―an auditor who audits and reports on the financial report/statements of a user entity. [7] …

For the purposes of this Standard on Assurance Engagements, the following terms have the meanings attributed below: …

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 …