The expectations gap refers to:
A)The space that exists between a train coming into the station and the platform used to board the train
B)The difference between what the public expects an audit to uncover and what the profession believes is the purpose of an audit
C)The difference between projected earnings based on analysts' expectations and actual earnings
D)The difference between what the audit sets out to discover and what it actually does discover

Question

Quizplus · Accepted Answer

The expectations gap refers to the difference between what the public expects an audit to uncover and what the profession believes is the purpose of an audit. This is an important issue in the accounting and auditing profession as it can lead to misunderstandings and loss of trust in the audit process.

The Expectations Gap Refers To