Reasonable assurances Definition | Law Insider (2024)

  • Reasonable assurance means a high degree of confidence that submitted data and statements are valid.

  • Reasonable and Customary means, in relation to a charge for Medical Service, such level which does not exceed the general range of charges being charged by the relevant service providers in the locality where the charge is incurred for similar treatment, services or supplies to individuals with similar conditions, e.g. of the same sex and similar Age, for a similar Disability, as reasonably determined by the Company in utmost good faith. The Reasonable and Customary charges shall not in any event exceed the actual charges incurred.

  • Reasonable pupil means a pupil, including, but not limited to, an exceptional needs pupil, who exercises average care, skill, and judgment in conduct for a person of his or her age, or for a person of his or her age with his or her exceptional needs.

  • Reasonable access for the purposes of this section means:

  • Reasonable grounds means that a reasonable person in your position would also suspect the information indicates misconduct or a breach of the law.

  • Reasonable and prudent parent standard means the

  • Reasonable Best Efforts means best efforts, to the extent commercially reasonable.

  • Reasonable Commercial Efforts means, with respect to the applicable obligation of the Company, reasonable commercial efforts for similarly situated, publicly-traded companies.

  • Applicable Policies means the policies, bylaws, directives, regulations, guidelines, codes of conduct, rules, systems and procedures of AHS listed in Schedule “F” attached.

  • Reasonable in the circ*mstances means using no more force than is needed.

  • Reasonable person means a reasonable person under similar circ*mstances and with similar identities to the victim.

  • Reasonable and Customary Charges means the charges for services or supplies, which are the standard charges for the specific provider and consistent with the prevailing charges in the geographical area for identical or similar services, taking into account the nature of the illness / injury involved.

  • Financial Assurances means the financial assurances provided by the Shipper and accepted by the Carrier in accordance with Rule 19.

  • Reasonable Steps means those steps the Receiving Party takes to protect its own similar proprietary and confidential information, which must not be less than a reasonable standard of care.

  • Reasonable Expenses means the reasonable expenses of Employees or Personnel, as the case may be, for which those Employees or Personnel may be reimbursed under the Operator’s usual expense account practice, as accepted by the Management Committee; including without limiting generality, any relocation expenses necessarily incurred in order to properly staff the Mining Operations if the relocation is approved by the Management Committee.

  • Approvals or Notifications means any consents, waivers, approvals, permits or authorizations to be obtained from, notices, registrations or reports to be submitted to, or other filings to be made with, any third Person, including any Governmental Authority.

  • Federal Assurances means Standard Form 424B (for non-construction projects) or Standard Form 424D (for construction projects) in Attachment B, attached hereto and incorporated herein for all purposes.

  • reasonable measures means appropriate measures which are commensurate with the money laundering or terrorism financing risks;

  • Reasonable Costs means the reasonable actual costs and expenses incurred by us in carrying out any further Audit under this Contract, including, but not limited to, reasonable travel and subsistence costs;

  • Local authorities means every county, municipal, and other local board or body having authority to adopt police regulations under the constitution and laws of this state.

  • Governmental Authorities means governments, regulatory authorities, governmental departments, agencies, commissions, bureaus, officials, ministers, Crown corporations, courts, bodies, boards, tribunals or dispute settlement panels or other law, rule or regulation-making organizations or entities:

  • Reasonable in these circ*mstances means ‘using no more force than is needed’. The use of force may involve either passive physical contact, such as standing between pupils or blocking a pupil’s path, or active physical contact such as leading a pupil by the arm out of the classroom. Departmental advice for schools is available here

  • Reasonable Efforts means, with respect to any action required to be made, attempted, or taken by an Interconnection Party or by a Construction Party under Tariff, Part IV or Tariff, Part VI, an Interconnection Service Agreement, or a Construction Service Agreement, such efforts as are timely and consistent with Good Utility Practice and with efforts that such party would undertake for the protection of its own interests. Regional Entity:

  • Reasonable suspicion means a basis for forming a belief based on specific facts and rational inferences drawn from those facts.

  • Directions means the directions contemplated in section 27(2) of the Act, issued by a Cabinet member relating to his or her line functions, after consultation with the Cabinet members responsible for cooperative governance and traditional affairs and justice and correctional services;

  • Reasonable assurances Definition | Law Insider (2024)

    FAQs

    Reasonable assurances Definition | Law Insider? ›

    Reasonable assurances means the degree of assurance that would satisfy prudent Personnel in the conduct of their own affairs.

    What is reasonable assurance in law? ›

    Reasonable assurance – Assessor is confident that their audit was sufficiently thorough to form a conclusion with a high level of certainty. Reasonable assurance is generally perceived to be more credible than limited assurance, thanks to a higher level of testing and evidence provided by the auditor.

    What are reasonable assurances? ›

    “Reasonable Assurance” is an unemployment insurance term that indicates a school employee has a contract (written or implied) that indicates they will likely be employed for the following school year, term, or remainder of a school term.

    What is the concept of reasonable assurance? ›

    Reasonable assurance is a concept relating to the accumulation of the audit evidence necessary for the auditor to conclude that there are no material misstatements in the financial report taken as a whole.

    What is the reasonable assurance process? ›

    Reasonable assurance work follows a similar methodology to an audit: gaining an understanding of the company and its culture, assessing and reviewing its controls, identifying risks, undertaking detailed testing – evaluating the evidence obtained and forming the assurance conclusion.

    What does reasonable assurance allow for? ›

    The exercise of due professional care allows the auditor to obtain reasonable assurance about whether the financial statements are free of material mis-statement, whether caused by error or fraud, or whether any material weaknesses exist as of the date of management's assessment.

    What are assurances in law? ›

    assurance n

    1 a : the act of assuring. b : guarantee. 2 : the act of conveying real property. ;also. : the document by which it is conveyed.

    What does reasonably assured mean? ›

    The AICPA defines reasonable assurance as a high, but not absolute, level of assurance. In an audit, that means perfection is not the goal because absolute assurance is not obtainable.

    What does concept of reasonable assurance suggest? ›

    The concept of reasonable assurance is built into the definition of internal control over financial reporting and also is integral to the auditor's opinion. Reasonable assurance includes the understanding that there is a remote likelihood that material misstatements will not be prevented or detected on a timely basis.

    What is the difference between assurance and reasonable assurance? ›

    Reasonable assurance is a high but not absolute level of assurance, in which the auditor affirms that the information reported is materially correct. In contrast, limited assurance states that the auditor is not aware of any material modifications that should be made.

    Why is reasonable assurance important? ›

    Reasonable assurance is essential in auditing because it provides a level of confidence to users of financial statements that the information presented is reliable and free from significant errors.

    What is the objective of reasonable assurance? ›

    The objective of a reasonable assurance engagement is a reduction in assurance engagement risk to an acceptably low level in the circ*mstances of the engagement1 as the basis for a positive form of expression of the practitioner's conclusion.

    What is reasonable assurance in compliance? ›

    In compliance auditing there are two levels of assurance: reasonable assurance, conveying that, in the auditor's opinion, the subject matter is or is not in compliance, in all material respects, with the stated criteria; and limited assurance, conveying that nothing has come to the auditor's attention to cause him/her ...

    What is the legal definition of reasonable assurance? ›

    Reasonable assurance means the existence of a substantial likelihood, although not an absolute guarantee, that the proposed activity will be successfully implemented and the proposed activity and applicant will comply with applicable agency rules, laws, orders and permit conditions.

    How to obtain reasonable assurance? ›

    To achieve reasonable assurance, the auditor needs to obtain sufficient appropriate audit evidence to reduce audit risk to an acceptably low level. This means that there is some uncertainty arising from the use of sampling, since it is possible that a material misstatement will be missed.

    What is notification of reasonable assurance? ›

    Reasonable assurance is a written, verbal, or implied agreement that says the school employee will perform services for an educational organization during the next academic year, term, or remainder of a term.

    What is an example of reasonable assurance and limited assurance? ›

    The conclusion in a limited assurance engagement is accordingly framed in a negative sense: "Based on the procedures performed, nothing came to our attention to indicate that the management assertion on XYZ is materially misstated." In contrast with a reasonable assurance conclusion which would be formed in a positive ...

    What does reasonable mean in legal terms? ›

    Just, rational, appropriate, ordinary, or usual in the circ*mstances.

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