Question

the audit expectation gap is caused by unrealistic user expectations. what example would not be included in an unrealistic user expectations?

Answer 1

The audit expectation gap is caused by unrealistic user expectations. The auditors provides reasonable gap examples that would not be included in unrealistic user expectations.

NASBA believes the expectancy gap relating to fraud and going problems in a financial statement audit may be caused by a few factors: lack of knowledge by way of the general public as to what an audit is and what auditors do; inconsistent audit execution in these regions by some auditors due to lack of expertise.

The expectation hole exists while auditors and the public keep distinct beliefs about the auditors' obligations and obligations and the messages conveyed by way of audit reports. apparently, there's an opening between what the public expects and what it virtually receives.

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