Expectation gap: Difference between revisions
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* [[Financial statements]] | * [[Financial statements]] | ||
* [[Gap]] | * [[Gap]] | ||
* [[Gartner Hype Cycle]] | |||
* [[Gender pay gap]] | * [[Gender pay gap]] | ||
* [[Information technology]] | * [[Information technology]] | ||
Latest revision as of 16:37, 3 September 2024
1. Auditors' reports on financial statements & other matters.
Auditors form, and report, an audit opinion about financial statements that they audit.
The auditors do not guarantee - nor certify - the amounts in the financial statements.
The incorrect belief that they do, is sometimes known as the audit "expectation gap".
Similarly incorrect - and excessive - expectations can also arise about other assurance work undertaken by external audit specialists.
2. Professional services - regulation - welfare - technology.
More broadly, any systemic differences between a high expectation of what should - or can be - achieved, and a lower or slower level of delivery in practice.
Examples include professional services, regulation and welfare provision.
Also known as an expectations gap.
See also
- Accounts
- Assurance
- Audit
- Audit opinion
- Audit report
- Audit trail
- Auditor
- Auditors’ report
- Certificate
- Company law
- Directors report
- Directors' responsibilities statement
- Ethnicity pay gap
- Expectations gap
- Financial reporting
- Financial statements
- Gap
- Gartner Hype Cycle
- Gender pay gap
- Information technology
- Qualified audit report
- Regulation
- Reporting entity
- Shareholders
- Technology
- True and fair view
- Welfare
