The role of International Auditing Standard (520) in reducing the expectations gap in the audit process

A survey study from the perspective of auditors and academics in the Kurdistan Region / Iraq

Abstract

The research aims to highlight the role of International Auditing Standard (520) in reducing the expectations gap in auditing. To achieve the research objective, the researcher relied on primary sources, namely the design of the questionnaire, which was designed based on previous studies and the theoretical aspect of the research. The questionnaire consists of two parts. The first part includes paragraphs aimed at knowing the characteristics of the research sample, and the second part includes (22) paragraphs that were used to collect data in order to test hypotheses and answer questions related to the research problem. The research sample members reached (50) individuals, including (22) auditors, (10) legal accountants in auditing offices and companies, and (18) university professors. After analyzing the data using the statistical program (SPSS) and testing the research hypotheses, a set of results was reached, the most important of which are: The use of analytical procedures according to International Auditing Standard (520) has a positive and significant correlation and impact in reducing the expectations gap in the auditing process. The value of the correlation coefficient was (.661**) and the calculated value of the effect (F) was as follows: (37.240) Meaning that applying International Auditing Standard (520) leads to reducing the expectations gap in the auditing process. In light of the research results, the researcher recommends a number of recommendations, the most important of which are: the necessity of emphasizing the activation and highlighting of the role of analytical procedures according to International Auditing Standard (520) in the auditing process by auditing offices and companies, in addition to the fact that it helps in reducing the expectations gap.