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
Date Written: December 30, 2017
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
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