VGU RESEARCH REPOSITORY
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Title: | Audit expectation gap: critical analysis of current developments | Authors: | Tao Minh Giang | Issue Date: | 2022 | Abstract: | The increasing number and complexity of business fraud cases have led the community to place more expectations on the auditor's responsibility in this regard. This has contributed to an exacerbation of the audit expectation gap. Although there has been a lot of research on this problem, no definitive solution has been found yet. Thus, this paper aims to find out the reasons behind the fraud-related audit expectation gap and analyze the stakeholders' opinions about the current requirements of auditors, from which propose suggestions to solve this problem. To accomplish these goals, this paper investigates 85 comment letters from the IAASB discussion paper (2020). In general, the main cause of this problem is due to misunderstandings and excessive expectations from the community, substandard performance from auditors, and shortcomings of current auditing standards. Hence, this paper comes up with the potential directions around giving more clarifications on confusing concepts for the financial disclosure users, more details in application materials, as well as training for auditors |
URI(1): | https://epub.vgu.edu.vn/handle/dlibvgu/1346 |
Appears in Collections: | Finance & Accounting (FA) |
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Audit expectation gap critical analysis of current developments.pdf | 1.16 MB | Adobe PDF |
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