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Definitions T

Takeover to Type of emission

Term

Definition

Takeover  the acquisition of control of listed or unlisted entities conducted in accordance with Chapter 6 of the Corporations Act 2001.
Test the application of procedures to some or all items in a population.
Test of controls  an audit procedure designed to evaluate the operating effectiveness of controls in preventing, or detecting and correcting, material misstatements at the assertion level.
Test of controls (in the context of ASAE 3150)  a procedure designed to evaluate the design, description, implementation or operating effectiveness of controls in achieving the identified control objectives.
Test of controls (in the context of ASAE 3402)  a procedure designed to evaluate the operating effectiveness of controls in achieving the control objectives stated in the service organisation’s description of its system.
Those charged with governance  the person(s) or organisation(s) (for example, a corporate trustee) with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes overseeing the financial reporting process. For some entities in some jurisdictions, those charged with governance may include management personnel, for example, executive members of a governance board of a private or public sector entity, or an owner-manager.
Those charged with governance (in the context of ASAE 3610)  the person(s) or organisation(s) (for example, a corporate trustee) with responsibility for overseeing the strategic direction of an entity and obligations related to the accountability of the entity. For the purposes of this Standard, those charged with governance refers to those with overall responsibility for, and obligations related to, the preparation and presentation of the general purpose water accounting report, including overseeing the water accounting and reporting process. For some entities, those charged with governance may include management personnel, for example, executive members of a governance board of a private or public sector entity, or an owner-manager.
Tolerable misstatement  a monetary amount set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the monetary amount set by the auditor is not exceeded by the actual misstatement in the population.
Tolerable rate of deviation (in the context of ASA 530)  a rate of deviation from prescribed internal control procedures set by the auditor in respect of which the auditor seeks to obtain an appropriate level of assurance that the rate of deviation set by the auditor is not exceeded by the actual rate of deviation in the population. 
Tolerable rate of deviation (in the context of ASAE 3150)  a rate of deviation in the operation of control procedures as designed in respect of which the assurance practitioner seeks to obtain an appropriate level of assurance that the rate of deviation set by the assurance practitioner is not exceeded by the actual rate of deviation in the population.
Type of emission  a grouping of emissions based on, for example, source of emission, type of gas, region, or facility.