The expectation gap can be reduced by
A) auditors performing their duties properly.
B) enhanced reporting to explain what processes have been followed in arriving at an audit or a review opinion.
C) assurance providers reporting accurately the level of assurance being provided.
D) all of the above

Question

Quizplus · Accepted Answer

All of the above options can contribute to reducing the expectation gap. If auditors perform their duties properly, it can improve the quality of the audit and increase confidence in the financial statements. Enhanced reporting can help to explain the process followed in arriving at an audit or review opinion, which can help to address any misunderstandings or miscommunications. Assurance providers reporting accurately on the level of assurance provided can also help to close the expectation gap by providing a clear understanding of the scope and limitations of the assurance services.

The Expectation Gap Can Be Reduced by