Article 6, Volume 1 Issue 1:

Audit expectation gap: fraud detection and other factors

Author

Ramon Saladrigues – (University of Lleida)

Marta Grañó – (University of Lleida)

Received April 30, 2014; accepted August 1, 2014.

Abstract

Financial information is an essential element in our society and in our economic system, as it plays a decisive role in the relationship between the various social agents. Therefore, this financial information must have a high level of quality, transparency and credibility. The expectation gap is the difference between the responsibility that auditors believe they have in developing their professional activity, and that which the users of the financial information attribute to them. Numerous analysed studies confirm that the audit expectation gap exists. Among the profusion of possible causes, the studies coincide in highlighting fraud detection, independence, erroneous expectations, nature of the audit process and the “going concern” analysis. Once the main factors have been presented, the article takes an in-depth look at one of these factors: the role of the auditor when fraud is detected.

La información financiera es un elemento esencial en nuestra sociedad y en nuestro sistema económico, ya que juega un papel decisivo en la relación entre los diversos agentes sociales. Por lo tanto, esta información financiera debe tener un alto nivel de calidad, transparencia y credibilidad. La brecha de expectativas es la diferencia entre la responsabilidad que los auditores creen que tienen en el desarrollo de su actividad profesional y la que los usuarios de la información financiera les atribuyen. Numerosos estudios analizados confirman que existe la brecha de expectativas de auditoría. Entre la profusión de posibles causas, los estudios coinciden en destacar la detección de fraude, la independencia, las expectativas erróneas, la naturaleza del proceso de auditoría y el análisis de “empresa en marcha”. Una vez que se han presentado los principales factores, el artículo analiza en profundidad uno de estos factores: el papel del auditor cuando se detecta fraude.

Citation

Saladrigues, R., & Grañó, M. (2014). Audit Expectation Gap: Fraud detection and other factors. European Accounting and Management Review1(1).

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