THE AUDIT EXPECTATIONS GAP AND THE ROLE OF AUDIT EDUCATION: EVIDENCE FROM SRI LANKA

J.S. KUMARI, D.B.P.H. DISSABANDARA, A.R. AJWARD

Abstract


  • The study examined the status and impact of audit education on the audit expectation gap, as existence of such a gap is noted to be harmful to the accounting and auditing profession. Accordingly, undergraduates of a regional national university in Sri Lanka (in three categories as: undergraduates who had not followed an auditing course, who had followed a basic auditing course, and who had followed an advanced auditing course) and professional auditors were selected and a questionnaire survey that included statements on the duties of the auditors was administered. The results of the independent sample t-test indicate the existence of an audit expectation gap in the Sri Lankan context; and that audit education had an effect in reducing such a gap. However, further analysis indicated that only an advanced auditing course had resulted in minimizing such expectation gap (particularly in reducing the unreasonable expectation gap) compared to who had followed a basic auditing course. These findings are expected to have significant educational policy implications.
  • KEYWORDS
    Audit Education, Audit Expectation Gap, Professional Auditors, Undergraduates

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Vidyodaya Journal of Management, University of Sri Jayewardenepura, Sri Lanka