Australia

Glossary 

It is the nature of business to shorten names and titles to acronyms and to have an ever-increasing number of terms which might puzzle the uninitiated. This page offers some definitions of commonly used acronyms and terms.


Asia Anchor Practice

AAA Risk Management

Australian Accounting Standards Board

KPMG established the Audit Committee Institute (ACI) to help audit committee members keep pace with business issues relating to governance, audit, accounting and financial reporting. Since its inception in 1999, KPMG member firms have launched ACIs in 20 countries.

Audit Difference Posting Threshold

Australian Financial Services Licence

Auditing Guidance Statement

Australian International Financial Reporting Statements

Advanced measurement approach

Anti-money laundering

Audit Quarterly Review Board

Analytical Review

Audit Regulatory Compliance

Australian Reporting Manual

Australian Standards on Auditing

Australian Standards on Assurance Engagements

Australian Securities & Investment Commission

Asia Pacific

Australian Standards On Review Engagements

Australian Securities Exchange

Auditing Standards Board

Services designed to help clients address specific issues which may relate to major regulatory or reporting changes or to the need for special skills on accounting matters.

 Brazil, Russia, India and China

Chartered Accountant

A course of study assessed by the Institute of Chartered Accountants in order to gain entry as a member of the ICAA and become a CA.

Computer Assisted Audit Technique

Capital Adequacy Standard

Client & Engagement Acceptance & Continuance. KPMG’s International Executive Team has approved CEAC as the global process for evaluating prospective and existing clients and engagements across all functions within KPMG.

Central and Eastern Europe

Chief Financial Officer

Certified Information Systems Auditor. (relates to ISACA body)

Certified Information Security Manager (relates to the ISACA body)

Certification for Information Systems Security Professional

Consumer Markets one of the recognised KPMG Lines of Business.

Corporations Act 2001

Committee of Sponsoring Organisations - published Internal Control - Integrated Framework (COSO framework identifies three primary objectives of internal control - efficiency and effectiveness of operations, financial reporting and compliance with laws and regulations.

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