The Evaluation of Evidence of the Audit Expectation Gap in Ghana

Issahaku Salifu, Muntari Mahama


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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