Those Charged With Governance (TCWG)
The person(s) or organisation(s) responsible for overseeing the strategic direction and obligations of an entity, such as its board or audit committee — the audience for the auditor's communications beyond management.
Related terms
- TDS under GST (Section 51)
A GST compliance obligation requiring specified categories of deductors (government bodies and others) to deduct tax at source on payments to suppliers above a threshold.
- Test of Controls
A procedure to evaluate the operating effectiveness of a control in preventing or detecting material misstatements, as distinct from a substantive procedure on the balance itself.
- Three-Way Match
Comparing a purchase order, the goods receipt and the supplier invoice against each other before a payment is approved, to confirm what was ordered, received and billed all agree.
- Time of Supply
The point at which GST liability arises on a supply, generally the earlier of the invoice date or the date of payment.
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