Dixon, R. and Woodhead, A. D. and Soliman, M. (2006) 'An investigation of the expectation gap in Egypt.', Managerial auditing journal., 21 (3). pp. 293-302.
Abstract: Purpose – Investors and financial statement users may have differing beliefs about the responsibility of an independent accounting firm performing an audit of a client's financial statements. This study aims to investigate the existence of an audit expectation gap between auditors and financial statement users in Egypt. Design/methodology/approach – The research method adopted in this study is identical to that used by Schelluch, Best et al. and Fadzly and Ahmed. Findings – The results found evidence of a wide audit expectation gap in Egypt in the areas of auditor responsibilities for fraud prevention, maintenance of accounting records, and auditor judgment in the selection of audit procedures. To a lesser extent, an expectation gap was found concerning the reliability of audit and audited financial statements, and the usefulness of audit. Research limitations/implications – The different economic and cultural conditions in Egypt may restrict the generalisability of this study. Practical implications – In order to reduce the expectation gap and improve decision-making by financial statement users, the results of this study support the adoption of the long-form audit report, augmentation of the auditing framework, strengthening of the auditor's integrity, and finally educating users on the nature and functions of audit. Originality/value – This paper contributes to the understanding of the diverse nature of the expectations gap by examining the different economic and cultural setting of Egypt.
|Keywords:||Auditing, Egypt, Expectation, Financial reporting.|
|Full text:||Full text not available from this repository.|
|Publisher Web site:||http://dx.doi.org/10.1108/02686900610653026|
|Record Created:||26 Aug 2008|
|Last Modified:||08 Apr 2009 16:34|
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