The term audit expectation gap refers primarily to differences in expectations between:
A)auditors and users of audited financial reports.
B)auditors and their clients.
C)CPA Australia/CAANZ and the ASIC.
D)auditors and the ASIC.

Question

Quizplus · Accepted Answer

The audit expectation gap refers to the difference between what users of audited financial reports believe auditors are responsible for and what auditors actually do according to auditing standards.

The Term Audit Expectation Gap Refers Primarily to Differences in Expectations