Engagement team ―All assurance practitioners and staff performing the engagement, and any other individuals who perform procedures on the engagement excluding an assurance practitioner’s external …

Evidence ―Information used by the assurance practitioner in arriving at the assurance practitioner’s conclusion. Evidence includes both information contained in relevant information systems, if any, and other information. For purposes of the ASAEs: (Ref: …

Firm ―A sole assurance practitioner, partnership or corporation or other entity of individual assurance practitioners. “Firm” should be read as referring to its public sector equivalents where …

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

Aggregation risk – The probability that the aggregate of uncorrected and undetected misstatements exceeds materiality for the financial report as a whole. (Ref: Para. A19 …

Component – An entity, business unit, function or business activity, or some combination thereof, determined by the group auditor for purposes of planning and performing audit procedures in a group audit. (Ref: Para. A20 …

Component auditor – An auditor who performs audit work related to a component for purposes of the group audit. A component auditor is a part of the engagement team [10] for a group audit. (Ref: Para. A21–A23 …

Component management – Management responsible for a component. (Ref: Para. A24 ) …

Component performance materiality – An amount set by the group auditor to reduce aggregation risk to an appropriately low level for purposes of planning and performing audit procedures in relation to a …

Group – A reporting entity for which a group financial report is prepared. …