Zagreb International Review of Economics and Business, Volume (19), No (1), Year (2016-6) , Pages (24-44)

Title : ( Quantifying Audit Expectation Gap: A New approach to Measuring Expectation Gap )

Authors: Mahdi Salehi ,
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Many users misunderstand the nature of the attest function, especially in the context of an unqualified opinion. Some users believe that an unqualified opinion means that the entity has foolproof financial reporting. Some feel that the auditor should not only provide an audit opinion, but also interpret the financial statements in such a manner that the user could evaluate whether to invest in the entity. There are also users who expect auditors to perform some of the audit procedures while performing the attest function like penetrating into company affairs, engaging in management surveillance and detecting illegal acts and/or fraud on the part of management. It is these high expectations on the part of users of financial statements that create a gap between auditors’ and users’ expectations of the audit function. In addition, the users also place the responsibility for narrowing the gap on auditors and others involved in preparing and presenting financial statements.

Keywords

, Audit expectation gap, Audit responsibility, quantifying audit expectation
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@article{paperid:1056360,
author = {Salehi, Mahdi},
title = {Quantifying Audit Expectation Gap: A New approach to Measuring Expectation Gap},
journal = {Zagreb International Review of Economics and Business},
year = {2016},
volume = {19},
number = {1},
month = {June},
issn = {1331-5609},
pages = {24--44},
numpages = {20},
keywords = {Audit expectation gap; Audit responsibility; quantifying audit expectation gap},
}

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%0 Journal Article
%T Quantifying Audit Expectation Gap: A New approach to Measuring Expectation Gap
%A Salehi, Mahdi
%J Zagreb International Review of Economics and Business
%@ 1331-5609
%D 2016

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