Reasonable assurance engagement―An assurance engagement in which the assurance practitioner reduces engagement risk to an acceptably low level in the circumstances of the engagement as the basis for the assurance practitioner’s conclusion. The assurance practitioner’s conclusion is expressed in a form that conveys the assurance practitioner’s opinion on the outcome of the measurementor evaluation of the underlying subject matter against criteria.Representation―Statementby 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 responsible party’s or evaluator’s Statement provided in an attestation engagement, as set out in paragraph17.Responsible party―The party responsible for the underlying subject matter, being thedesign, description, implementation or operating effectiveness of controls in an assurance engagement on controls.
Sampling―The applicationof assurance procedures to less than100% 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 on which to draw conclusions about the entire population.
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 conclusions:(i)That the controls are designed more suitably, thedescription is presentedmore fairlyor the controls are operating more effectively than they actually are. The assurance practitioner is primarily concerned with this type of erroneous conclusion because it affects the engagement’s effectiveness and is more likely to lead to an inappropriate assurance conclusion.That controls are less effective than they actually are. This type of erroneous conclusion affects the engagement’sefficiency as it would usually lead to additional work to draw a conclusion.Service organisation―Athird 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 financial, emissions and energy, carbon offsets, compliance or other reporting.(pp)Short-form report―Assurance report including only the matters required under paragraph89of this ASAE.
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Specific control objective―Control objective expressed in sufficient detail such that controls can be designed to achieve that objective directly without further breakdown.(rr)Statement―The outcome in writing of the responsible party or evaluator’s evaluation of thesuitability of thedesign of controls to achieve the control objectives, and, if included in the scope of the engagement, the fair presentation of the descriptionof the system, implementation of controls as designed or operating effectiveness of controlsas designed, provided to the assurance practitioner in an attestation engagement.A Statement is the subject matter information in an attestation engagement on controls.(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 isthe Statementof the responsible party or evaluator in an attestation engagement or the assurance practitioner’s conclusion in a direct engagement, providing the outcome of their evaluation.
Subject matter or underlying subject matter―The controls within the systemdesigned to achieve the control objectives, and, if included inthe scope of the engagement, the description of the system, the controls implemented orthe controls in operation.System―The function or service at the entity, location or operational facility for which the controls are being reported upon by the assurance practitioner.