Accounting estimate – A monetary amount for which the measurement, in accordance with the requirements of the applicable financial reporting framework, is subject to estimation uncertainty. (Ref: Para.  A14 …

Auditor’s point estimate or auditor’s range – An amount, or range of amounts, respectively, developed by the auditor in evaluating management’s point estimate. (Ref: Para.  A15 …

Estimation uncertainty – Susceptibility to an inherent lack of precision in measurement. (Ref: Para.  A16 , Appendix 1 ) …

Management bias – A lack of neutrality by management in the preparation of information. (Ref: Para.  A17 ) …

Management’s point estimate – The amount selected by management for recognition or disclosure in the financial report as an accounting …

Outcome of an accounting estimate – The actual monetary amount that results from the resolution of the transaction(s), event(s) or condition(s) addressed by an accounting estimate. (Ref: Para.  A18 …

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

Component means an entity or business activity for which group or component management prepares financial information that should be included in the group financial report. (Ref: Para. …

Component auditor means an auditor who, at the request of the group engagement team, performs work on financial information related to a component for the group audit. (Ref: Para. …

Component management means management, or those charged with governance, responsible for the preparation of the financial information of a …