Criteria - the benchmarks used to measure or evaluate the underlying subject matter. An applicable financial reporting framework is an example of …

Engagement risk - the risk of expressing inappropriate opinions and/or conclusions when the subject matter is materially misstated, including when the subject matter has material deficiencies or deviations or is materially …

Grant acquittal - a requirement of a funding agreement and is performed by the recipient of the funding (the responsible party). An acquittal can take a number of forms such as financial reports/statements, written reports, documentation of activities …

Mandate - the requirement, documented or otherwise, for an independent auditor to conduct an audit, other assurance engagement, agreed-upon procedures engagement or combination thereof. Mandates may be prescribed in legislation or regulation; or may be …

Prescribed procedures - procedures that are to be performed by the auditor in accordance with the prescribed requirements of a statutory authority, a contract or other applicable …

Prescribed report - the form and/or content of the auditor’s report is prescribed by a statutory authority, by the terms of a contract or by other applicable …

Subject matter information - the outcome of the measurement or evaluation of an underlying subject matter against the relevant criteria. [Examples include financial reports, compliance plans and attestations/declarations by responsible …

The meanings of other words and phrases used in this Guidance Statement are those included in the AUASB pronouncements and which are also reproduced in the AUASB Glossary …

Service provider (in the context of this ASQM) – An individual or organisation external to the firm that provides a resource that is used in the system of quality management or in the performance of engagements. Service providers exclude the firm’s …

Staff – Professionals, other than partners, including any experts the firm employs. …