493 definitions found.
ASAE 3500
Definition
16(d)
Criteria ―The benchmarks used to measure or evaluate the underlying subject matter, which in a performance engagement is the activity. The “identified criteria” are the criteria used for the particular …
ASAE 3500
Definition
16(e)
Direct engagement on performance ―A reasonable assurance engagement in which the assurance practitioner evaluates the activity’s performance against the identified criteria. The outcome of the assurance practitioner’s evaluation is expressed in the …
ASAE 3500
Definition
16(f)
Economy ―the performance principle relating to the minimisation of the costs of resources, within the operational requirements of timeliness and availability of required quantity or …
ASAE 3500
Definition
16(g)
Effectiveness ―the performance principle relating to the extent to which the intended objectives at a program or entity level are …
ASAE 3500
Definition
16(h)
Efficiency ―the performance principle relating to the minimisation of inputs employed to deliver the intended outputs in terms of quality, quantity and …
ASAE 3500
Definition
16(i)
Engagement risk ―the risk that the assurance practitioner expresses an inappropriate conclusion. …
ASAE 3500
Definition
16(j)
Engaging party ―The party(ies) that engages the assurance practitioner to perform the assurance engagement. In a performance engagement initiated by an Auditor‑General there will not normally be an engaging party as the State, Territory or Federal …
ASAE 3500
Definition
16(k)
Intended users ―Parliament, responsible party, individual(s) or organisation(s), or group(s) thereof that the assurance practitioner expects will use the assurance report. In some cases, there may be intended users other than those to whom the assurance …
ASAE 3500
Definition
16(l)
Limited assurance engagement ―An assurance engagement in which the assurance practitioner reduces engagement risk to a level that is acceptable in the circumstances of the engagement, but where that risk is greater than for a reasonable assurance …
ASAE 3500
Definition
16(m)
Materiality —variations in performance of an activity evaluated against the identified criteria which, have the potential to affect the economy, efficiency and/or effectiveness of the activity and be reasonably expected to influence relevant decisions of …