An Empirical Study of Audit Expectation Gap in Hungary

Abstract

The audit expectation gap has preoccupied the finance and accounting profession for a long time. Considerable research has been conducted into this issue and attempts have been made to provide an accurate definition of the audit expectation gap, model this concept and assess the possibilities of its narrowing. Also, a number of studies investigate whether there is an audit expectation gap in several researched regions. The objectives of empirical studies on the structure and nature of the audit expectation gap aim at recognising the actual existing and expected roles and responsibilities of auditors as well as identifying the factors, that contribute to the existence of the audit expectation gap in a society.The findings of international research on the audit expectation gap cannot directly be applied to a particular country without further investigation. Nor can they be applied in Hungary. This is because economic, social and legal factors of a specific country have a considerable impact on research results and might even distort them. Therefore, the objective of this research is to identify the causes and the typical composition of the audit expectation gap in Hungary in order to enable us to find appropriate combinations of solutions for narrowing the expectation gap.

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