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✨ EY Prep 🩷
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Audit
🔴 Hard
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What is the 'expectation gap' in auditing?
A.
The gap between the expected and actual audit fee
B.
The difference between what the public believes auditors do (guarantee no fraud, no failure) and what auditors actually provide (reasonable assurance on financial statements)
C.
The gap between planned and actual audit hours
D.
The difference between management's forecasts and actual results