The difference between what the public thinks it is getting in audited financial statements and what the public is actually getting is known as:
A)the credibility gap.
B)the expectations gap.
C)the audit gap.
D)the stewardship gap.
E)None of the above

Question

Quizplus · Accepted Answer

The expectations gap refers to the difference between what the public believes it is receiving in audited financial statements and what it is actually receiving, highlighting a misunderstanding or miscommunication about the role or performance of auditors.

The Difference Between What the Public Thinks It Is Getting