3.2 - The Expectations Gap

Question 1

How does the expectation gap come to be?

Answer 1

Users are not aware of the nature of/do not understand the limitations on assurance provision and believe the assurance provider is offering a service that they are not

Question 2

What also may be misunderstood by users?

Answer 2

The distinction between reasonable and limited assurance

Question 3

What is the gap?

Answer 3

The gap of information between what the assurance provider understands they are doing and what the user of the information believes they are doing

Question 4

Why do assurance providers need to close the gap as much as possible?

Answer 4

In order to maintain the value of the assurance provided for the user

Question 5

In what ways can the gap be closed?

Answer 5

Issuing an engagement letter spelling out the work that will be carried out and its limitations, and by regularly reviewing the format and content of reports issued as a result of assurance work