Audit expectation gap: The case of Malaysia

Managerial Auditing Journal

Volumn 19, Issue 7, 2004, Pages 897-915

  Nazri Fadzly, Mohamed ^a   Ahmad, Zauwiyah ^a  

^a MULTIMEDIA UNIVERSITY   (Malaysia)

Author keywords

Accountancy; Auditing; Fraud; Malaysia

Indexed keywords

EID: 84993000156     PISSN: 02686902     EISSN: None     Source Type: Journal    
DOI: 10.1108/02686900410549420     Document Type: Article

References (39)

1. Arens, A.A., Loebbecke, J.K., Iskandar, T.M., Susela, S.D. and Isa, S. (1999), Auditing in Malaysia – An Integrated Approach, Prentice Hall, Selangor, Malaysia.
2. Best, P.J., Buckby, S. and Tan, C. (2001), “ Evidence of the audit expectation gap in Singapore ”, Managerial Auditing Journal, Vol. 16 No. 3, pp. 134-144.
3. CA (1965) was intended for abbreviation of Malaysian Companies Act 1965 (Act 125).
4. Campbell, J.E. and Mutchler, J.F. (1988), “ The ‘Expectations Gap’ and going-concern uncertainties ”, Accounting Horizons, Vol. 2 No. 1, pp. 42-49.
5. DeAngelo, L. (1981), “ Auditor size and audit quality ”, Journal of Accounting and Economics, pp. 183-199.
6. Epstein, M.J. and Geiger, M.A. (1994), “ Investor views of audit assurance: recent evidence of the expectation gap ”, Journal of Accountancy, Vol. 177 No. 1, pp. 60-64.
7. Fadzly, M.N. and Ahmad, Z. (2003), “ The perceived value of financial statements audit ”, Proceedings of The International Conference on Quality Financial Reporting and Corporate Governance, Kuala Lumpur, Malaysia.
8. Frank, K.E., Lowe, J.D. and Smith, J.K. (2001), “ The expectation gap: perceptual differences between auditors, jurors and students ”, Managerial Auditing Journal, Vol. 16 No. 3, pp. 145-149.
9. Gay, G., Schelluch, P. and Baines, A. (1998), “ Perceptions of messages conveyed by review and audit reports ”, Accounting, Auditing & Accountability Journal, Vol. 11 No. 4, pp. 472-494.
10. Giacomino, D.E. (1994), “ Expandin the auditor's role to narrow the expectations gap ”, Business Forum, Vol. 19 No. 3/4, pp. 31-35.
11. Gloeck, J.D. and De Jager, H. (1994), The Audit Expectation Gap in the Republic of South Africa, University of Pretoria, Brooklyn.
12. Godsell, D. (1991), “ Auditors' legal liability and the expectation gap ”, Australian Accountant, Vol. 61, pp. 22-27.
13. Gramling, A.A. and Schatzberg, J.W. (1996), “ The role of undergraduate auditing coursework in reducing the expectation gap ”, Issues in Accounting Education, Vol. 11 No. 1, pp. 131-160.
14. Humphrey, C., Mozier, P. and Turley, S. (1993), “ The audit expectation gap in Britian: an empirical investigation ”, Accounting and Business Research, Vol. 23 No. 91A, pp. 395-411.
15. Innes, J., Brown, T. and Hatherly, D. (1993), “ The expanded audit report – a research study within the development of SAS 600 ”, Accounting, Auditing & Accountability Journal, Vol. 10 No. 5, pp. 702-717.
16. Jennings, M., Kneer, D.C. and Reckers, P.M.J. (1993), “ The significance of audit decision aids and precase jurists' attitude on perceptions of audit firm culpability and liability ”, Contemporary Accounting Research, Vol. 9 No. 2, pp. 489-507.
17. Kapardis, M. and Anderson, R. (1995), “ What investors expect from an audit ”, Charter, Vol. 66 No. 3, pp. 38-41.
18. KLSE Market Review (2002), Kuala Lumpur Stock Exchange, 2003.
19. Libby, R. (1979), “ Bankers' and auditors' perceptions of the message communicated by the audit report ”, Journal of Accounting Research, pp. 99-122.
20. Liggio, C.D. (1974), “ The expectation gap: the accountant's waterloo ”, Journal of Contemporary Business, Vol. 3 No. 3, pp. 27-44.
21. Low, A.M. (1984), “ The audit report; time for a change? ”, Singapore Accountant, pp. 17-21.
22. Low, A.M., Foo, S.L. and Koh, H.C. (1988), “ The expectations gap between financial analysts and auditors – some empirical evidence ”, Singapore Accountant, pp. 10-13.
23. McEnroe, J.E. and Martens, S.C. (2001), “ Auditors' and investors' perceptions of the ‘Expectation Gap’ ”, Accounting Horizons, Vol. 15 No. 4, pp. 345-358.
24. Malaysian Economic Reports (2002-2003), Ministry of Finance, Malaysia.
25. Monroe, G.S. and Woodliff, D.R. (1993), “ The effect of education on the audit expectation gap ”, Accounting and Finance, Vol. 33 No. 1, pp. 61-78.
26. Monroe, G.S. and Woodliff, D.R. (1994), “ An empirical investigation of the audit expectation gap: Australian evidence ”, Accounting and Finance, Vol. 34 No. 1, pp. 47-64.
27. Oppenheim, A.N. (1966), Questionnaire Design and Attitude Measurement, Heinemann, London.
28. Pany, K. (1993), “ Expectations of the audit function ”, The CPA Journal Online, available at: www.nysscpa.org/cpajournal/old/ 14469563.htm (accessed 2 June 2002).
29. Pierce, B. and Kilcommins, M. (1996), “ The audit expectations gap: the role of auditing education ”, Dublin City University Business School Research Papers 1995-1996, No. 13.
30. Porter, B. (1993), “ An empirical study of the audit expectation-performance gap ”, Accounting and Business Research, Vol. 24 No. 93, pp. 49-68.
31. Schelluch, P. (1996), “ Long-form audit report messages: further implications for the audit expectation gap ”, Accounting Research Journal, Vol. 9 No. 1, pp. 48-55.
32. Sweeney, B. (1997), “ Bridging the expectations gap – on shaky foundations ”, Accountancy Ireland, pp. 18-19.
33. The Cohen Commission (1978), “ Commission on auditors' responsibilities report, conclusions and recommendations ”, AICPA, New York, NY.
34. UNCTAD World Investment Report (2003), “ FDI policies for development: national and international perspectives ”, United Nations Conference on Trade and Development.
35. University of Utah (1997), Patient Education for University of Utah Health Science Centre: An Author's Guide, Office of Patient Education, University of Utah.
36. Wolf, F.M., Tackett, J.A. and Claypool, G.A. (1999), “ Audit disaster futures: antidotes for the expectation gap? ”, Managerial Auditing Journal, Vol. 14 No. 9, pp. 468-478.
37. Collier, P. (1997), “ Corporate governance and audit committees ”, Current Issues in Auditing, 3rd ed., Paul Chapman Publishing Ltd, London.
38. Hojskov, L. (1998), “ The expectation gap between users' and auditors' materiality judgements in Denmark ”, Proceedings of The Second Asia Pacific Interdisciplinary Research in Accounting Conference (APIRA), Osaka, Japan.
39. O'Leary, C. (1998), “ Auditors' liability to third parties – the door remains open ”, Managerial Auditing Journal, Vol. 13 No. 9, pp. 521-524.