What has been the major recent proposal by the IAASB to reduce the expectations gap?
A)A statutory limitation on auditor's liability.
B)A confidential report to those charged with governance.
C)A separate report to the independent audit regulatory
D)Amendments to the Auditor's Report.

Question

Quizplus · Accepted Answer

The major recent proposal by the IAASB to reduce the expectations gap is amendments to the Auditor's Report. The amendments aim to provide more relevant and useful information to the users of the financial statements, which should help to narrow the gap between what the public expects from the audit process and what auditors are actually responsible for.

What Has Been the Major Recent Proposal by the IAASB