The Term "Expectation Gap" Refers to the Difference in the Results

question 52

True/False

The term "expectation gap" refers to the difference in the results of an audit between what an auditor expects and what users of the financial statements audited by the auditor expect.

---

Definitions:

Larger Firms

Businesses or companies with a significant number of employees, extensive operations, and high revenue.

Organic Structures

Organizational frameworks characterized by flexibility, decentralized decision-making, and a lack of strict hierarchies or rules.

Dynamic Environments

refers to settings or contexts that are constantly changing, often unpredictably, requiring organizations and individuals to adapt quickly.

Team-Based Structure

An organizational arrangement where work is organized around teams rather than traditional hierarchies, facilitating collaboration and flexibility.