SA 200
The Standard setting out the overall objectives of an independent auditor and the nature of an audit conducted under the Standards on Auditing.
Related terms
- Risk Control Matrix (RCM)
A working document mapping identified risks to the controls meant to address them, the frequency of each control, and the evidence that it operated — not to be confused with the GST Reverse Charge Mechanism, which shares the same acronym.
- Rotation of Auditors
The Companies Act requirement that specified classes of companies rotate their statutory auditor (individual or firm) after a maximum tenure, to preserve independence.
- SA 210
Governs the terms of an audit engagement — the basis for the engagement letter agreed with the client before work begins.
- SA 230
The Standard on Auditing governing audit documentation — what must be in the file, in enough detail that an experienced auditor with no prior connection to the engagement could understand the work performed.
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231 terms in total, or go deeper with working procedures and worked examples in the resource library.