The Evaluation of Evidence of the Audit Expectation Gap in Ghana
Research Journal of Finance and Accounting
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Title |
The Evaluation of Evidence of the Audit Expectation Gap in Ghana
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Creator |
Salifu, Issahaku
Mahama, Muntari |
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Description |
The study examined the existence of audit expectations gap in Ghana from the point of view of auditors, bankers and students of the Institute of Chartered Accountants, Ghana (ICA (G)) as users of financial statements. Questionnaires were used on a sample size of 135 respondents. The random and the convenient sampling methods were used. The study uncovered an expectation gap which was quite wide especially in relation to; auditors responsibility for detecting and preventing fraud and errors, the soundness of the internal control structure of the entity, the auditor not exercising judgment in the selection of audit procedures among others. The researchers therefore recommend that the regulators of audit profession in Ghana must take steps necessary in educating auditors and financial statements users alike and that the establishment of an independent government agency to oversee the implementation of audit regulation in Ghana is eminent. The researchers further propose the extension of the auditors’ responsibility as a shared cost between audit firms and their clients. Keywords: Auditor, audit, audit expectation gap, Ghana, responsibility.
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Publisher |
The International Institute for Science, Technology and Education (IISTE)
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Date |
2016-01-02
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Type |
info:eu-repo/semantics/article
Peer-reviewed Article info:eu-repo/semantics/publishedVersion |
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Format |
application/pdf
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Identifier |
http://iiste.org/Journals/index.php/RJFA/article/view/27836
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Source |
Research Journal of Finance and Accounting; Vol 6, No 24 (2015); 20-30
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Language |
eng
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Relation |
http://iiste.org/Journals/index.php/RJFA/article/view/27836/28553
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Rights |
Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Copyrights for articles published are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.
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