by Mohammed Amin MBE FRSA MA FCA AMCT CTA (Fellow).
This article was first published in UKSA’s Newsletter, The Private Investor, and is reproduced with the author’s permission.
The Expectations Gap
After almost every major corporate reporting failure, arguments arise about the "expectations gap". This is the gap between what shareholders, creditors, employees and journalists think that auditors should be doing, and what auditors consider they are actually required to do.
This expectations gap is particularly acute in cases where there has been fraud. The ...