Does the requirement for standardized audit report wording relate to the expectations gap in some way? Explain.

Question:

Does the requirement for standardized audit report wording relate to the “expectations gap” in some way? Explain.

Audit Report
The audit report is issued by a certified public accountant who is appointed by the shareholders to provide assurance upon the truth and fairness of the financial statements prepared by the managers of the company. Audit report contains the...

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