Question: Question 1 There has always been a discussion in relation to the transparency of the entity and its financial report and key areas of audit

Question 1

There has always been a discussion in relation to the transparency of the entity and its financial report and key areas of audit risk.

Required:

In light of the above statement and in your own words (with reference), discuss both the expectation gap and the information gap in relation to the audit of the financial statement. (400-600 words)

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