The Audit Expectations Gap and the Role of Audit Education: Evidence from Sri Lanka

Vidyodaya Journal of Management, 2017, Vol. 03(1) 01-26.

26 Pages Posted: 10 Oct 2019

See all articles by Sandhya Jayasena

Sandhya Jayasena

Rajarata University of Sri Lanka - Faculty of Management Studies

Roshan Ajward

University of Sri Jayewardenepura

Hareendra Dissabandara

University of Sri Jayewardenepura; University of Sri Jayewardenepura

Date Written: December 30, 2017

Abstract

The study examined the status and impact of audit education on the audit expectation gap, as existence of such a gap is noted to be harmful to the accounting and auditing profession. Accordingly, undergraduates of a regional national university in Sri Lanka (in three categories as: undergraduates who had not followed an auditing course, who had followed a basic auditing course, and who had followed an advanced auditing course) and professional auditors were selected and a questionnaire survey that included statements on the duties of the auditors was administered. The results of the independent sample t-test indicate the existence of an audit expectation gap in the Sri Lankan context; and that audit education had an effect in reducing such a gap. However, further analysis indicated that only an advanced auditing course had resulted in minimizing such expectation gap (particularly in reducing the unreasonable expectation gap) compared to who had followed a basic auditing course. These findings are expected to have significant educational policy implications.

Keywords: Audit Education, Audit Expectation Gap, Professional Auditors, Undergraduates

Suggested Citation

Jayasena, Sandhya and Ajward, Roshan and Dissabandara, Hareendra, The Audit Expectations Gap and the Role of Audit Education: Evidence from Sri Lanka (December 30, 2017). Vidyodaya Journal of Management, 2017, Vol. 03(1) 01-26., Available at SSRN: https://ssrn.com/abstract=3461421 or http://dx.doi.org/10.2139/ssrn.3461421

Sandhya Jayasena

Rajarata University of Sri Lanka - Faculty of Management Studies ( email )

Mihintale, 10300
Sri Lanka

Roshan Ajward (Contact Author)

University of Sri Jayewardenepura ( email )

Nugegoda
Gandodawila
Gangodawila, Nugegoda 10250
Sri Lanka
0714837303 (Phone)
10250 (Fax)

Hareendra Dissabandara

University of Sri Jayewardenepura ( email )

Soratha Mawatha
Gandodawila
Nugegoda, WA Western 10250
Sri Lanka
0717603146 (Phone)
12500 (Fax)

HOME PAGE: http://https://mgt.sjp.ac.lk/fin/team_member/prof-dr-d-b-p-h-dissa-bandara/

University of Sri Jayewardenepura ( email )

Sri Soratha Mawatha
AttambagodaGangodawila
Nugegoda, Western Province 10250
Sri Lanka
0717603146 (Phone)
12500 (Fax)

HOME PAGE: http://https://mgt.sjp.ac.lk/fin/team_member/prof-dr-d-b-p-h-dissa-bandara/

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