What is one step that can help bridge the expectation gap between management and auditors?

Enhancing the audit report to clarify procedures and responsibilities is a significant step that can help bridge the expectation gap between management and auditors. The expectation gap refers to the difference in perceptions between what management believes auditors are responsible for and what auditors actually are responsible for. By providing a more detailed and clear audit report, auditors can communicate the scope of the audit, the nature of the procedures performed, and the limitations of the audit process. This transparency helps management understand the audit process better and aligns their expectations with the reality of what an audit entails.

Clear communication in the audit report can address common misconceptions about the role of auditors, such as the level of assurance provided or the extent of the auditors' responsibilities in detecting fraud. By explicitly laying out these details, the audit report becomes a valuable tool for managing expectations and ensuring that all parties have a mutual understanding of the audit's objectives and outcomes. This practice ultimately enhances trust and reduces the likelihood of misunderstandings between management and auditors.