Expectation Gap in Audit

Expectation gap is the difference between what General public perceives about  the responsibilities of an auditor and what the actual responsibilities are. Bellow are some examples which general public thinks that it is responsibility of the auditors but they are not actually. They assume that

1. Preparation of accounts is the responsibility of the auditor.

2.Auditor checks 100% transactions.

3.Auditor gives absolute assurance.

4.Auditor is responsibility for detection of fraud.

5.He gives assurance on going concern.