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Ninth: Narrowing audit expectation gap

In Egypt, in order to reduce the expectation gap, there are 3 Main approaches
to handle:

4. To address reasonableness gap to Such as:
▪ Through educating stakeholders that auditor’s prediction of
bankruptcy is not a responsibility that should be expected of him. While
his role is to provide only warning signs incase unusual uncertainty
emerged during the usual course of audit

5. To address performance gap
▪ To provide training programs as obligatory requirements for
professional auditors regarding the use of decision aids tools in the
field of bankruptcy and default prediction to enhance the accuracy of
their judgement regarding firms’ ability to continue as going concern
▪ Auditors voluntarily dependance on information technology different
TOOLS in the course of the audit process is one of the most achievable
ways to reduce expectation gap

6. To address standards gap
▪ Standard Setting bodies, Must Revise and update the Current auditing
standards used as they are outdated standards that needs revision and
enhancements by obligating the use of decision aids in the
responsibilities of auditors regarding going concern prediction to
enhance the accuracy of their judgement regarding firms’ ability to
continue as going concern

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‫جميع الحقوق محفوظة ـ الإعتداء على حق المؤلف بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية‬