Description of the system―A document prepared by the responsible partyand provided to users, if included in the scope of the engagement,describingthe entity’s system,within which the controls to be concluded upon operate, including identification of: the functions or services covered; the period or date to which the description relates; control objectives and detailsof,or reference to documentationdetailing,the controls designed to achieve those objectives. The entity’s functions or services may be identified by geographic, operational or functional boundaries.A description of the system is distinct from documentation prepared by the responsible party or assurance practitioner, as the description is part of the subject matter of the engagement,which,if included in the scope of the engagement, is made available to usersandconcluded upon by the assurance practitioner. A description may be included in the scope of an attestation or direct engagement, however in a direct engagement no attestation is provided by the responsible party or evaluator with respect to whether the description is fairly presented.(k)Deficiency in design of controls―An inadequacyor omission in the design of a control/sthat, in the assurance practitioner’s professional judgement, meansthe control/s is not designed suitably to mitigate the risks thatthreaten achievement ofthe identified control objective/s.
(l)Deficiencyin implementationof controls―Instances where a control was notimplementedas designed that, in the assurance practitioner’s professional judgement, mean the control/s, once in operation, may not operate effectively as designed to achieve the identified control objective/s.(m)Deviation inoperating effectiveness of controls―Instanceswhere acontrol was not operatingas designed.(n)Direct controls―Controls which directly address the risks of a control objective not being achieved, by detecting,preventing or correcting a failure to achievea control objectiveon a timely basis.(o)Direct engagement on controls―A reasonable or limited assurance engagement in whichthe assurance practitioner evaluates the design of the controls against the control objectives, and,if included inthe scope of the engagement,the description, implementation and/or operating effectiveness of controls against the design.
The outcome of the assurance practitioner’s evaluation
(the subject matter information)is expressed in the assurance practitioner’s conclusion.(Ref:Para.A6)(p)Engaging party―Theparty(ies) that engages the assurance practitioner toperformthe assurance engagement.(q)Entity’s system (or the system)―The policies and procedures designed and implemented by the entity to provide the functions or services covered by the assurance practitioner’s report, including the control objectives which address the overall objectives relevant to those functionsor services and the controls designed to mitigate the risks that threaten achievement ofthose objectives.(r)Evaluator―The party(ies) who evaluates the underlying subject matter against the criteria. The evaluator possesses expertise in the underlying subject matter.(s)Firm―A sole assurance practitioner, partnership or corporation or other entity of individual assurance practitioners. “Firm” should be read as referring to its public sector equivalents where relevant.(t)Fraud―An intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal advantage.(u)Fraud risk factors―Events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud.
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Materialcontrol―Acontrolwhichisnecessaryto mitigate therisk of a control objective not being achievedand for which there are no or insufficient compensating controls. The relevant control objectives are those at the level to be concluded on in the assurance report, whetheroverall or specific control objectives.(ee)Misstatement―(i)In an attestation engagement, adifferencebetween theresponsible party or evaluator’s Statement16and the appropriate evaluation of the designof controlsagainst the control objectives17, and/or the description,implementation or operating effectiveness of controlsagainst the design17.
which isexpressed either as amisstatement in the responsible party or evaluator’s Statement, or as a deficiency inthe suitability of the design, misstatement inthedescription, deficiency in implementationor deviation in operating effectiveness of controls.(ii)In a direct engagement,a difference between the design and a design suitable to achieve the control objectives17and/or a difference between the description, implementation or operating effectiveness of controls and thedesign,17in so far as it is suitable,which is expressed as a deficiencyin the suitability of the designof controls to achieve the control objectives, misstatement in the description, deficiency in the implementation or deviation in the operating effectiveness of controlsas designed.