Page 45 - Demo

جميع الحقوق محفوظة ـ اإلعتداء عىل حق املؤلف 45 بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونيةSixth: narrowing audit expectation gapThe expectation gap is existed in Egypt because of 3 main reasons: 1- The continuous increase on the demand of audit services other than the traditional audit of historical financial statements (Reasonableness gap). 2- Lack of all the needed regulatory, legal & social requirements to satisfy the increasing demand on the nontraditional audit services and its related standards (Standards gap) 3- lack of well qualified auditors to satisfy the expected increasing demand especially IT skills (Performance gap). In Egypt, in order to shrink the professional expectation gap, there are 3 Main approaches to handle: 1. (To address reasonableness gap) through either a) increase the responsibilities of auditors regarding established roles using decision aids (fraud prediction and Bankruptcy prediction models, Artificial intelligence & Machine learning) b) or increase Supply of professional services to Such as:  continuous auditing professional service A new approach to conduct the audit in electronic commerce and Real Time Accounting (RTA) information system environment. It is an assurance and attestation service which has 3 main parties involved in this service 1) Management, 2) Stakeholders (Users of company`s Web site), and 3) Service provider (Auditor). Scope of professional service: Significant financial information & relations disclosed via company’s Web site.Fifth: The reasons of the audit expectation gap in Egypt