499 definitions found.
ASAE 3150
Definition
17(kk)
Representation―Statement by the responsible party, either oral or written, provided to the assurance practitioner to confirm certain matters or to support other evidence. A representation is additional to but may be provided in combination with the …
ASAE 3150
Definition
17(ll)
Responsible party―The party responsible for the underlying subject matter, being the design, description, implementation or operating effectiveness of controls in an assurance engagement on …
ASAE 3150
Definition
17(mm)
Sampling―The application of assurance procedures to less than 100% of items within a population of relevance to the engagement such that all sampling units have a chance of selection in order to provide the assurance practitioner with a reasonable basis …
ASAE 3150
Definition
17(nn)
Sampling risk―The risk that the assurance practitioner’s conclusion based on a sample may be different from the conclusion if the entire population were subjected to the same assurance procedure. Sampling risk can lead to two types of erroneous …
ASAE 3150
Definition
17(oo)
Service organisation―A third party organisation (or segment of a third party organisation) that provides services to user entities that are likely to be relevant to user entities’ internal control as it relates to relevant external reporting, whether …
ASAE 3150
Definition
17(pp)
Short-form report―Assurance report including only the matters required under paragraph 89 of this ASAE. …
ASAE 3150
Definition
17(qq)
Specific control objective―Control objective expressed in sufficient detail such that controls can be designed to achieve that objective directly without further …
ASAE 3150
Definition
17(rr)
Statement―The outcome in writing of the responsible party or evaluator’s evaluation of the suitability of the design of controls to achieve the control objectives, and, if included in the scope of the engagement, the fair presentation of the description …
ASAE 3150
Definition
17(ss)
Subject matter information―The outcome of the measurement or evaluation of the underlying subject matter against the criteria. In an assurance engagement on controls the subject matter information is the Statement of the responsible party or evaluator in …
ASAE 3150
Definition
17(tt)
Subject matter or underlying subject matter―The controls within the system designed to achieve the control objectives, and, if included in the scope of the engagement, the description of the system, the controls implemented or the controls in …