Entity-Level Controls
Controls operating at the level of the organisation as a whole rather than within a specific process — the control environment, risk assessment process, and board/audit committee oversight.
Related terms
- Engagement Letter
The letter agreed with the client before an audit starts, setting out its scope, management's responsibilities and the auditor's responsibilities. Required by SA 210.
- Engagement Quality Control Review (EQCR)
An objective evaluation of significant judgments and conclusions made in an engagement, performed by a reviewer not otherwise involved in the engagement, before the report is issued.
- Exempt Supply
A supply on which no GST is charged and on which the supplier cannot claim input tax credit for inputs used to make it.
- Expected Credit Loss (ECL)
A forward-looking provisioning model under Ind AS 109 that estimates credit losses on receivables and other financial assets, rather than waiting for a loss to be incurred.
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