One of the goals of the current auditors report is to reduce the expectation gap. Explain what each of the following phrases or statements tells financial statement users about the role of the auditor: 1. Management is responsible for the preparation and fair presentation of these financial statements. ? 2. Our responsibility is to express an opinion on these financial statements based on our audit. ? 3. The words in all material respects were added to the opinion paragraph. ? 4. These standards require that we comply with ethical requirements. ?