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Interest A financial interest:
(a) Owned directly by and under the control of an individual or entity (including
those managed on a discretionary basis by others); or
(b) Beneficially owned through a collective investment vehicle, estate, trust or other
intermediary over which the individual or entity has control, or the ability to
influence investment decisions. Director or officer Those charged with the governance of an entity, or acting in an equivalent capacity,
regardless of their title, which may vary from jurisdiction to jurisdiction. Engagement
Partner 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
review A process designed to provide an objective evaluation, on or before the report is
issued, of the significant judgments the engagement team made and the conclusions
it reached in formulating the report. Engagement team All partners and staff performing the engagement, and any individuals engaged by
the firm or a network firm who perform assurance procedures on the engagement.
This excludes external experts engaged by the firm or a network firm.
245 Existing accountant A professional accountant in public practice currently holding an audit appointment
or carrying out accounting, taxation, consulting or similar professional services for
a client. External expert An individual (who is not a partner or a member of the professional staff, including
temporary staff, of the firm or a network firm) or organization possessing skills,
knowledge and experience in a field other than accounting or auditing, whose work
in that field is used to assist the professional accountant in obtaining sufficient
appropriate evidence. Financial interest An interest in an equity or other security, debenture, loan or other debt instrument
of an entity, including rights and obligations to acquire such an interest and
derivatives directly related to such interest. Financial
Statements A structured representation of historical financia...
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- Spring '14