Question: You are auditing a state - owned entity. The CFO of the state - owned entity asked you about an article in one of the

You are auditing a state-owned entity. The CFO of the state-owned entity asked you about an
article in one of the popular business newspapers with the heading: Where were the auditors?
He stated that after he read the article, he does not see any use for an auditor.
YOU ARE REQUIRED TO:
a. Explain the auditing expectation gap with reference to the implications thereof. (3)
b. Identify ways to overcome the auditing expectation gap.

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