An Assessment of Audit Expectation Gap in Ghana
Journal Title: International Journal of Academic Research in Accounting, Finance and Management Sciences - Year 2013, Vol 3, Issue 4
Abstract
Audit expectation gap is the difference between what the public expect auditors to do and what auditors do. Given the significance of the expectation gap, it is not surprising therefore that a number of studies have shown concern for the expectation gap problem. But it appears no studies have been conducted in Ghana in relation to Audit Expectation Gap. Therefore the study sought to assess the existence of audit expectation gap in Ghana. The study adapted the instrument used by Best, Buckby and Tan (2001) and Bogdanoviciute (2011). The sample size was twenty auditors and twenty stockbrokers. Convenient and purposive sampling techniques were used. The instrument used for data collection was questionnaire. The study found that there exist expectation gap in Ghana, particularly concerning auditor responsibility relating to fraud detection and prevention, and soundness of internal control structure of the audited entity. The researchers recommend that the audit profession and regulators should formulate such standards, rules and regulations that shall adequately guide the auditors to fulfill the reasonable expectations of various user groups.
Authors and Affiliations
Albert Agyei, Baah Kusi Aye, Ebenezer Owusu-Yeboah
Keywords
Related Articles
- EP ID EP162154
- DOI 10.6007/IJARAFMS/v3-i4/361
- Views 87
- Downloads 0
Factors Effecting Systematic Risk in Isolation vs. Pooled Estimation: Empirical Evidence from Banking, Insurance, and Non-Financial Sectors of Pakistan
The basic purpose of the financial manager is to maximize the wealth of shareholder by minimizing the risk. This study examines the validity of systematic risk determinants in banking, insurance, and non-financial sector...
Fraud Free Financial Report: A Conceptual Review
The study reviewed the key factors that enhance the quality of financial reports with emphasizes on Accounting Standards, Corporate Governance, Audit Committee, Whistle blowing, Internal Control, Audit Quality, Efficient...
Score Function Model Applied For Assessing the Adequacy of Internal Controls and Risk Management Function within Romanian Investment Firms
Romanian Investment Firms are obliged to comply with relevant corporate governance principles as a result of their status of public interest entities. Furthermore, since Romania is a State Member since 2007, it is mandat...
The Impact of the Application of Fair Value Accounting on the Quality of Accounting Information. An Empirical Study on a Group of Companies Listed on the Khartoum Stock Exchange
Studying Effects of Buyer–Supplier Relationship and Non-Relationship Factors to Accept or Reject the New Product by Retailers of Agricultural Organic Products in Shahrekord
The present study investigates the important role of buyer-supplier relationship and non-relationship factors to accept or reject the new product by retailers in agricultural organic products Shahrekord. In the present s...