The existing auditing standards requires auditors to test 25% of the transactions. However, the auditor of ABC Pty Ltd, DJ, tested 10%. The society expects auditors to test 90% of the transactions. A reasonable public expectation is 35%. Which one of the following statements is true regarding to the expectation gap?
a.
The expectation gap is 80%, of which 10% are deficient standards.
b.
The performance gap is 35%.
c.
The deficient performance gap is 10%.
d.
The expectation gap is 90%, of which 25% are deficient standards.

The expectation gap is the difference between the public's expectation of what auditors should accomplish and what the auditors themselves believe is their responsibility. It exists because of the gap between the requirements of the auditing standards and the desires of the public.

In this scenario, the existing auditing standards only require auditors to test 25% of transactions, but the auditor for ABC Pty Ltd, DJ, only tested 10%. This means that the auditor did not fulfill their responsibility as required by the auditing standards. Therefore, the expectation gap is 35% because a reasonable public expectation is 35%.In other words, the auditor is responsible for a 25% transaction testing standard.

The existing standard requires this, and it is also what the auditor was adhering to. However, the society has a higher expectation, which is a 90% transaction testing standard, and this is what the auditor did not fulfill. On the other hand, the reasonable public expectation is 35%, which is higher than what the auditor has achieved, but lower than what the society expects.

In conclusion, the expectation gap is present in this scenario because the public has a higher expectation of transaction testing standards compared to the existing auditing standards, which the auditor did not fulfill. However, the auditor's standards are higher than the reasonable public expectation of transaction testing.

you know more about existing auditing standards pls visit-

https://brainly.com/question/28330947

#SPJ11

when did Toronto​ pearson​Airport​(Canada) start​ using​ technology​ or​ scanner​

When a site is unsafe, it means a. Your personal information may be used in ways you do not want c. Permission to use that site at school is always allowed b. That site is okay to visit often d. All of the above Please select the best answer from the choices provided A B C D

A Balance Sheet does NOT show your company's (two answers are correct)


financial position over a specific period of time

liabilities

insurance coverage at a specific date in time

assets

A _____ is an estimation about a future situation based on the evaluation of facts.

1. projection
2. fact
3. salary
4. growth

which of the following is a workplace trend?
A - decreased outsourcing
B - decreased attention to diversity
C- increased use of manual labor
D - increased technology literacy

A local Barnes and Noble paid a $79.99 net price for each hardbound atlas. The publisher offered a 20% trade discount. What was the publisher’s list price?

What type of industry would Tim Hortons and McDonalds be classified as?

Your factory has a contract to produce a new folding chair. Your role as manager is to find the greatest efficiencies possible throughout the process, so you call a meeting with your planning department. One of your engineers suggests putting more workers on the line but breaking up the tasks into more individual steps. What is your greatest concern regarding this approach? A increased time spent in training B reduced production C poor conditions for workers D cost to hire skilled workers

Mary is earning a weekly salary of $521.60 as a payroll clerk. She has accepted a new assignment in the tax-processing department. In her new position, she will be paid an annual salary of $30,534.00. How much more would she earn per week in her new position?

Describe the information you will need to provide in order to complete a FAFSA. List at least three of the required documents you must include.

4.
Contrast the relationship that exists between entrepreneurs and investors in a business
enterprise.​

Jerry's job requires that he wear a suit and tie every day to the office. This is most likely a(n) _____ atmosphere.

In which way are competitors stakeholders in a business?
A. They invest in competition
B. Competitors need to provide services
C. Competitors will want to position itself competitively
D. They enjoy learning about the competition

Should voting be mandatory?

waht do an engineer and an architect do?​

Based on the W-2 provided, Social Security tax withheld for Lily was ______ of wages and Medicare tax withheld was ______ of wages.

a. 1.3%, 5.5%
b. 6.2%, 1.45%
c. 10%, 10%
d. 28%, 39.8%

Thanks for any help I can get! I don't need an explanation as to how you got the answer. ​

1. Calculate the Net Worth when Liabilities are $5,000 and Assets are $6,725​

MULTIPLE CHOICE: Scar stole Mufasa's debit card and used it to buy a vacation package to the Savannah. Which account would the money come out of? (choices are savings, checking, certificate of deposit, and online checking)

What is the difference between Money
Market and Investments?

Which of the following is not one of the factors in determining a pension's final value?

A) Years of serivce
B) Level of education
C) Your age at retirement
D) Your highest salary/pay

Select the best alternative for the following questions:
i. Which of the following transactions are not recorded in book keeping?
a) Sold Goods on Credit.
b)
Introduce capital in the business.
c) Resignation of marketing manager.
d) Drawing cash from business for personal use.
..​

Which of the following best describes a stock.

A) An incredibly stable investment that is always a safe investment
B) Is insured by the FDIC
C) Represents a share of ownership of a corporation
D) Only sold in the United States

Which of the following should which of the following should be of concern when a company considers expanding into a new International market?
the country's legal system
the country's political stability
the education level of the workforce
all of the above

What is the advantage of developing criteria for assessing the effectiveness of business products and processes?
A. Assessment criteria are answers.
B. Assessment criteria are inexpensive.
C. Assessment criteria provide you with a list of relevant things to measure.
D. Assessment criteria provide you with a list of people to contact to learn more about process mentoring.

Sam has take-home pay every month of $800. He anticipates that his expenses will add up to $675 for the month. In a zero-based budget, why is it important that she put the extra $125 in SOME budget category? Where might you suggest that Sam put the extra $125?

I need to submit this today, can you help me?


What are Washington D.C.’s people eating habits?

What are some economic facts about Washington DC?

What are some facts about Washington DC?

Culture and customs of Washington DC?

Travel information (Dubai to Washington DC)?

In what circumstance would a property insurance claim be rejected?

If you have an orientation where you are completing training exercises on a computer, it is probably a ____.
A new hire orientation
B interactive orientation
C reorientation
D mentorship

What are the 4 steps to branding

WILL GIVE BRAINLIEST
If loans and credit card debt are taking up most of your monthly income, which of the following is the LEAST effective first step in getting your debt under control?
A. Start a side hustle and allocate the money you make towards extra payments for your debt.

B. Take a hard look at your budget and try to cut nonessential items so you have more cash to pay down your debt.

C. Declare bankruptcy, which will eliminate all your debts and allow you to start over with a clean slate.

D. Pay extra money each month to the debt with the highest interest rate, so you'll decrease the total amount you'll spend on debt.