Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p11
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 33773–37253

in some jurisdictions, management includes some or all of those charged with governance, for example, executive members of a governance board, or an owner–manager.

Management's expert                         An individual or organisation possessing expertise in a field other than assurance, whose work in that field is used by the entity to assist the entity in preparing the sustainability information.

Misstatement                                A difference between the disclosure(s) and the appropriate measurement or evaluation of the sustainability matters in accordance with the applicable criteria. Misstatements can arise from error or fraud, may be qualitative or quantitative, and include omitted information or information that obscures the presentation of the disclosures. (Ref: Para. A417, A473, A479)

Misstatement of the other information       A misstatement of the other information exists when the other information is incorrectly stated or otherwise misleading (including because it omits or obscures information necessary for a proper understanding of a matter disclosed in the other information).

Network                                     A larger structure:

                                               (a) That is aimed at cooperation, and

                                               (b) That is clearly aimed at profit or cost-sharing or shares common ownership, control or management, common quality management policies or procedures, common business strategy, the use of a common brand name, or a significant part of professional resources.

Network firm                                A firm or entity that belongs to the firm's network.

Non-compliance with laws and regulations    Acts of omission or commission, intentional or unintentional, committed by the entity, or by those charged with governance, by management or by other individuals working for or under the direction of the entity, which are contrary to the prevailing laws or regulations. Non-compliance does not include personal misconduct unrelated to the business activities of the entity.

Other information                           Information not subject to the assurance engagement included in a document or documents containing the sustainability information subject to the assurance engagement and the assurance report thereon.

Partner                                     Any individual with authority to bind the firm with respect to the performance of a professional services engagement. (Ref: Para. A39)

Performance materiality                     The amount or amounts set by the practitioner at less than the amount or amounts determined to be material for a quantitative disclosure to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements in that disclosure is material.

Personnel                                   Partners and staff in the firm.

Practitioner                                The individual(s) conducting the engagement (usually the engagement leader or other members of the engagement team, or, as applicable, the firm). Where this ASSA expressly intends that a requirement or responsibility be fulfilled by the engagement leader, the term "engagement leader" rather than "practitioner" is used.

Practitioner's expert                       An individual or organisation possessing expertise in a field other than assurance, whose work in that field is used by the practitioner