The expectation differences among stakeholders in the financial valuation fitness of auditors
Purpose The purpose of this paper is to investigate if there is an expectation gap among accounting academics, accounting practitioners, and users of financial statements in the financial valuation fitness of auditors. Complex reporting standards and current market expectations have the potential to create differences between what third party users consider to be the responsibilities of the auditor and what auditors believe to be their responsibilities in auditing fair value estimates. Design/methodology/approach This study surveys the perceptions of accounting academics, accounting practitioners, and users of financial statements and the degree to which an expectation gap exists in the financial valuation fitness of auditors. Survey respondents chose from a five point Likert scale ranging from "strongly agree" to "strongly disagree." Findings This paper proposes two hypotheses. The results for all nine survey items have provided significant evidence that there is a difference in the expectation of