You are a staff auditor at Broman, LLP.You have been assigned to an audit engagement with a new intern.The intern mentions the client stated, "he was glad the auditors were there to guarantee the future success of the business so that his lousy banker would get off his back".You explain that the audit firm does not guarantee anything.Explain the audit expectation gap to the intern and provide several ways that the audit expectation gap can be reduced.
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