Audit Expectation Gap: An Empirical Review of the Literature
Posted: 6 Sep 2014
Date Written: September 5, 2011
The studies in the area of audit expectation gap mostly use survey questionnaires to identify the nature of the gap or where the gaps are; while others see the impacts of the gap; and how to reduce the gap. Different respondents have been used in the literature to elicit their opinion, for example, auditors, lawyers and judges (Lowe, 1994), jurors (Frank and Lowe 1994), investors (Epstein and Gregor 1994), shareholders (Beck 1994) various groups (Humphrey 1993) chartered accountants, financial directors, investment analyst, bankers and financial analyst. The conclusion of the researches is that the gap does exist and it affects the auditing profession negatively. Therefore, measures should be taken to ensure it is minimize or reduced.
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