DefinitionsDefinitions

Definitions

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

Aus 12.1 Assurance engagement means an engagement in which an assurance practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users, other than the responsible party, about the outcome of the evaluation or measurement of a subject matter against criteria.

Aus 12.2 Assurance practitioner means an individual, firm, or other organisation, whether in public practice, industry and commerce, or the public sector conducting assurance engagements, or related services engagements (including engagements to perform agreed-upon procedures).

1. [Deleted by the AUASB. Refer Aus 12.3]

Aus 12.3 Date of report means the date the assurance practitioner signs the report.

1. [Deleted by the AUASB. Refer Aus 12.4]

Aus 12.4 Engagement documentation means the record of work performed, relevant evidence obtained, and conclusions the assurance practitioner reached (terms such as “working papers” or “workpapers” are sometimes used).

1. [Deleted by the AUASB. Refer Aus 12.5][2]

Aus 12.5 Engagement partner means the partner or other person in the firm who is responsible for the engagement and its performance, and for the report that is issued on behalf of the firm, and who, where required, has the appropriate authority from a professional, legal or regulatory body. Engagement partner should be read as referring to a public sector equivalent where relevant.

1. Engagement quality control review means a process designed to provide an objective evaluation, on or before the date of the report, of the significant judgements the engagement team made and the conclusions it reached in formulating the report. The engagement quality control review process is for audits of financial reports of listed entities, and those other engagements, if any, for which the firm has determined an engagement quality control review is required.
2. Engagement quality control reviewer means a partner, other person in the firm, suitably qualified external person, or a team made up of such individuals, none of whom is part of the engagement team, with sufficient and appropriate experience and authority to objectively evaluate the significant judgements the engagement team made and the conclusions it reached in formulating the report.
3. [Deleted by the AUASB. Refer Aus 12.6][3], [#]

Aus 12.6 Engagement team means all partners and staff performing the engagement, and any individuals engaged by the firm or a network firm who perform procedures on the engagement. This excludes an auditor’s external expert engaged by the firm or by a network firm.