In Belgium, all “large” companies are legally required to appoint a statutory auditor. The thresholds of the criteria to be considered “large” are, however, not that large. Consequently, many relative small companies in Belgium are legally required to appoint a statutory auditor. The...

In this paper, we test the effectiveness of an expanded auditor's report vis-à-vis an audit course in narrowing the expectations gap. We compared two auditor's reports in a between subjects design: the ISA 700 report and an expanded auditor's report. We also examined if explaining audits to...