The Dynamics of Audit Expectations Gap under the Impact of Financial Crisis
Author:
Univ. Prof. Laurenţiu DOBROŢEANU, Ph.D., Lecturer Diana MANEA, Ph.D. Student, Associate Prof. Camelia Liliana DOBROŢEANU, Ph. D.
JEL:
M 42, D 83, D 84, G 01
DOI:
Keywords:
audit-expectations gap, expectations, audit, dynamics, perceptions
Abstract:
Abstract: The current global financial crisis brings again under debates among both producers and users of information disclosed within financial reports the traditional questionings and debates on the role of external audit. Under such circumstances, the paper seeks to identify and examine the dynamics of audit expectations gap during the crisis since its inception. The research outcomes indicate that in spite of the intensified efforts undertaken by professional bodies, academia and profession members, the „elasticity” of users’ expectations toward external auditing role is increasingly negative. Out of the multiple explanations that justify such dynamics, the implications of the current global financial crisis is by far a leading generating factor. \r\n\r\n