Stratification means the process of dividing a population into sub-populations, each of which is a group of sampling units which have similar characteristics (often monetary …

Tolerable misstatement means a monetary amount set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the monetary amount set by the auditor is not exceeded by the actual misstatement in the population. …

Tolerable rate of deviation means a rate of deviation from prescribed internal control procedures set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the rate of deviation set by the auditor is not …

For purposes of the Australian Auditing Standards, the term “ analytical procedures ” means evaluations of financial information through analysis of plausible relationships among both financial and non-financial data.  Analytical procedures also encompass …

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

Deficiency in internal control means: A control is designed, implemented or operated in such a way that it is unable to prevent, or detect and correct, misstatements in the financial report on a timely basis; or A control necessary to prevent, or detect …

Significant deficiency in internal control means a deficiency or combination of deficiencies in internal control that, in the auditor’s professional judgement, is of sufficient importance to merit the attention of those charged with governance.  …

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

For the purposes of this Guidance Statement, the following items have the meanings attributed below: …

Assurance engagement means an engagement in which the RSE auditor aims to obtain sufficient appropriate evidence in order to express a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the …