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In a recent audit, you tested 10% of transactions.The uninformed public believes that auditors test 95% of transactions, but those with an understanding of the
In a recent audit, you tested 10% of transactions.The uninformed public believes that auditors test 95% of transactions, but those with an understanding of the audit process expect 35% testing. Auditing standards require 25% testing. Which of the following statements is true?
a.
The expectation gap is 85%, of which 15% are deficient standards
b.
The gap due to deficient performance is 15%.
c.
The performance gap is 35%
d.
The expectation gap is 95%, of which 10% are deficient standards
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