Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p13
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 40536–44032

to be reported by the entity, and are used primarily in the context of the practitioner's preliminary knowledge of the engagement circumstances.

                                               (d) If the assurance engagement does not cover the entirety of the sustainability information reported by the entity, the term "sustainability information" is to be read as the information that is subject to assurance. (Ref: Para. A44)

Sustainability matters                      Environmental, social, governance or other sustainability-related matters as defined or described in law or regulation or relevant sustainability reporting frameworks, or as determined by the entity for purposes of preparing or presenting sustainability information.

                                            For purposes of the ASSAs, sustainability matters being measured or evaluated in accordance with the criteria are the equivalent of "underlying subject matter" in other AUASB assurance standards. (Ref: Para. A45–A46)

System of internal control                  The system designed, implemented and maintained by those charged with governance, management and other entity personnel to provide reasonable assurance about the achievement of an entity's objectives with regard to sustainable business activities and the reliability of sustainability reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations related to sustainability matters.

                                            The term "controls" refers to policies or procedures that an entity establishes to achieve the control objectives of management or those charged with governance, relating to any aspects of one or more of the components of the system of internal control.

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 sustainability 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.

Uncorrected misstatements                   Misstatements that the practitioner has accumulated during the assurance engagement and that have not been corrected.

      Aus 18.1 The definition of 'the Code' is Parts 1 to 3 of APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the Accounting Professional & Ethical Standards Board and the provisions in Part 5 of the International Ethics Standards for Sustainability Assurance (Including International Independence Standards) issued by the International Ethics Standards Board for Accountants.'.

      Aus 18.2 The definition of 'Engagement team' is 'The engagement leader and other personnel performing the engagement, and any other individuals who perform procedures on the engagement, excluding a practitioner's external expert. (Ref: Para. A28–Aus A29.1)'.

      Aus 18.3 The definition of 'Relevant ethical requirements' is 'Principles of professional ethics and ethical requirements that are applicable to practitioners when undertaking assurance engagements on sustainability information. Relevant ethical requirements comprise the Code related to sustainability assurance engagements,