Audit Service Provider [53] – Private sector auditor or firm who has been contracted to perform an audit engagement or audit procedures for or on behalf of the …

Engagement Leader – In the context of this GS, the term ‘Engagement Leader’ is used to refer to the individual assigned responsibility for the audit engagement and its performance in practice, and who is either the Signing Officer (as defined in 137(i) …

Engagement Partner – Defined in ASQM 1/ASA 220 [54] as “the partner or other individual, appointed by 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, …

Engagement Quality Review (EQR) – Defined in ASQM 1/ASQM 2/ASA 220 [57] as “an objective evaluation of the significant judgements made by the engagement team and the conclusions reached thereon, performed by the engagement quality reviewer and completed …

Engagement team – Defined in ASQM 1/ASA 220 [58] as “all partners and staff [or, in the context of the public sector, the Engagement Leader and/or Signing Officer and Audit Office staff] performing the audit engagement, and any other individuals who …

Firm – Defined in ASQM 1/ASA 220 [60] as “a sole practitioner, partnership or corporation or other entity of assurance practitioners, or public sector equivalent.” For the public sector equivalent of ‘firm’, see ‘Audit Office’ as defined in 137(a) …

Signing Officer [61] – In the context of this GS, the term ‘Signing Officer’ is used to refer to the Auditor-General (the appointed statutory auditor) or individual authorised to sign and issue the auditor’s report on behalf of the Auditor-General. The …

For the purposes of this Auditing Standard, the following terms have the meanings attributed below: …

Initial audit engagement means an engagement in which either: The financial report for the prior period was not audited; or The financial report for the prior period was audited by a predecessor …

Opening balances means those account balances that exist at the beginning of the period.  Opening balances are based upon the closing balances of the prior period and reflect the effects of transactions and events of prior periods and accounting policies …