Discuss the implications for regulators in matters.

How the audit expectation gaps affects the regulators and how and what can be done to reduce this gap?

For example implication on regulators:

1) Audit approach : to give an unqualified opinion

2) Regulations: conduct audit base on auditing standards

3) Forms on audit: to issue unqualified opinion

4) Communication on audit matters: through audit reports and client's meetings

Do complete the above write up expand.