El “gap de expectativas” en la auditoría de cuentas - Full Paper

Abstract

This article provides a current overview of the so-called “audit expectation gap” or simply the “expectation gap”. Previously begins with an explanation of this concept, clarifying the essence of financial audit, the responsibilities assumed by the auditor, as well as those assumed by the managers of the audited entities topics that often cause confusion among users of audit reports and constitute one of the components of the expectation gap known as the “knowledge gap”. The gap is divided into three components, and each is explained, with an evaluation of possible responses to address them and the timing of these responses. Furthermore, the article describes the current debates aimed at reducing or mitigating both the existing performance gap and the development gap, including issues such as fraud, going concern assessment, and risk determination. Finally, the article concludes that the expectation gap is a recurring issue raised by users of financial audits, and auditors have a duty to narrow this gap. This obligation arises both from their role in serving the public interest by responding to societal demands and from the need to preserve their reputation and ensure their credibility. However, it is made clear that some user demands are impossible to meet, and others cannot be fulfilled solely by auditors; many other economic agents related to corporate information are also involved, such as Directors and managers, regulators, supervisors, legislators, social agents or the financial media.

Full document