This paper investigates factors contributing to the audit expectation gap in nigeria it is widely believed that auditors are largely responsible for the business . Abstract the purpose of this study is to identify the variable(s) that is/are base of audit expectation gap between auditors and users of financial statement which. Leaders of the profession have conflicting views on the state of audit quality today according to current sec chair mary jo white, “investor. The audit expectation gap, generally known as the differences between keywords: audit expectation gap, audit education, commercial loan. 97 accountability, completeness, credibility and the audit expectations gap carol a adams deakin university, australia richard evans ethics etc , uk.
As a socially-embedded service provider, it is essential that the users of audit services, as well as the wider public, have confidence in the audit profession. The existence of expectations gap between the auditors and users of financial statements in the study reveals that an audit expectation gap exists in nigeria. Although these expectations seem to be rather natural, however, an audit expectations gap does exist based mostly on the diversity of views about the audit. The results proved the existence of an audit expectation gap in malaysia the study auditing, audit expectation gap, deficient performance, deficient standards.
Read this full essay on the audit expectations gap auditing has developed from what, in the twelfth century, was primarily a check of the accounting for sto. The role of the auditor in detecting fraud is one of the key components of the expectations gap, as the high profile company failures show that. Auditing expectation gap or simply expectation gap is the term used to signify the difference in expectations of users of financial statements and.
23 audit expectation gap and auditor reporting 11 24 extended audit reporting: contents of the audit report 13 25 extended audit reporting:. Audit team members are required, under the international auditing standards, to exercise professional scepticism throughout the audit process in australia, this. The audit expectations gap: mitigating information asymmetries and corporate social responsibility as a signaling device marianne ojo (north-west.
Audit expectation gaps are found to exist in the areas of auditor responsibility for fraud detection, soundness of the internal controls, and preparation of financial. Chapter 2 introduction of audit expectation gap 21 introduction 22 from history to development of audit & auditors 23 role of auditors. A contribution to the understanding of the audit expectation gap légitimité statutory auditing expectation gap auditing standards excuse legitimacy.
Abstract this research set out to find out the perceptions of members of ican, an important stakeholder group, at bridging the audit expectation gap problem. The auditing profession has named this problematic issue the audit expectation gap to complement the previous study of lee et al (2007),. I welcome our international guests, who represent independent audit regulators from 37 non-us jurisdictions and staff of four international. Audit expectation gap is not a new phenomenon in auditing literature it somewhat gives a bad reputation to external auditors this paper.
The auditing profession believes that the increase in litigation and criticism against the auditors can be attributed to the audit expectation gap the audit. Underlie the acceptance of particular meanings of 'audit' and 'auditing' the audit expectations gap is reconfigured in terms of the beliefs and desires identified. Definition of audit expectation gap the difference between the actual and expected performance of an auditor according to the the american institute of. The paper finds evidence that audit education significantly reduces the aeg, especially in the area of audit reliability however, results also indicate that.