Document ID: chunk:federal_register_of_legislation:F2017C00509:body:0:p5
Version: federal_register_of_legislation:F2017C00509
Segment Type: other
Provision Reference: 
Character Range: 10923–13730

as in regulation 6.50 of the Regulations.
project proponent has the same meaning as in the CFI Act.
qualified limited assurance conclusion has the meaning given by subsection 3.18(3).
qualified reasonable assurance conclusion has the meaning given by subsection 3.17(3).
reasonable assurance conclusion has the meaning given by subsection 3.17(2).
reasonable assurance engagement has the meaning given by section 1.6.
Regulations means the National Greenhouse and Energy Reporting Regulations 2008.
terms of engagement, in relation to a Part 6 audit, means either assurance engagement terms or verification engagement terms for the audit.
verification engagement has the meaning given by subsection 1.5(4).
verification engagement report means an audit report of a kind mentioned in subsection 75(1) of the Act prepared in relation to a verification engagement.
verification engagement terms means terms that comply with section 4.2.
Note: Terms used in this Determination that are used in the Act have the same meaning as in the Act.

1.5  Types of audits
 (1) Audits under the Act are conducted under any of sections 73 to 74C of the Act.
 (1A) An ERF audit is conducted under section 214 or 215 of the CFI Act, or is conducted for the purposes of preparing an audit report prescribed for the purposes of any of paragraphs 13(1)(e), (ea), (eb), 23(1)(d), 76(4)(c), (ca) or (cb) of the CFI Act.
 (1B) A safeguard audit is conducted for the purposes of preparing an audit report prescribed under the safeguard rules to accompany an application for a baseline determination.
 (2) There are 2 types of audits as follows:
 (a) assurance engagements;
 (b) verification engagements.
 (3) An assurance engagement means a Part 6 audit the purpose of which is to provide the audit team leader's independent opinion as to the reliability, accuracy and completeness of the matter being audited. There are 2 kinds of assurance engagement as follows:
 (a) a reasonable assurance engagement (see section 1.6);
 (b) a limited assurance engagement (see section 1.7).
Note: Part 3 deals with assurance engagements.
 (4) A verification engagement means a Part 6 audit the purpose of which is to verify the matter being audited. It does not contain an opinion as to the reliability, accuracy and completeness of the matter being audited.
Note: Part 4 deals with verification engagements.
 (4A) An ERF audit conducted under section 214 or 215 of the CFI Act may be an assurance engagement or a verification engagement, as specified in the notice given under subsection 214(2) or 215(2) of the CFI Act. An ERF audit conducted for the purposes of preparing an audit report prescribed for the purposes of paragraph 13(1)(e), (ea), (eb), 76(4)(c), (ca) or (cb) of the CFI Act is a reasonable assurance engagement.
Note: No reports