Statistical sampling means an approach to sampling that has the following characteristics: A sampling approach that does not have characteristics (i) and (ii) is considered non-statistical sampling. Random selection of the sample items; and The use of …

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 …

Applicable financial reporting framework means the financial reporting framework adopted by the entity in the preparation of general or special purpose financial information of the entity that is acceptable based on the nature of the entity or as required …

Addressees mean the parties to whom the auditor addresses the comfort letter, and includes the requesting parties and the responsible party of the …

Auditor means the person or firm appointed to audit an entity’s financial report.  …

Auditor’s statement means a statement made by the auditor that based on the procedures performed, nothing has come to the auditor’s attention that caused the auditor to believe that specified matters do not meet specified …

Bring down comfort letter means a letter prepared and issued by the auditor subsequent to the issuance of the initial comfort letter, that updates and reaffirms the results of the specified procedures described in that comfort letter as at a certain …

Change period means the period specified by the requesting parties ending on the cut-off date and begins for balance sheet items, immediately after the date of the latest balance sheet, and for profit and loss items, immediately after the latest period …