Abstract

Purpose–This study aims to investigate the existence of an audit expectation gap and to find similarities and differences in responsibilities of audit expectation gap among auditor and investor between two countries, and to measure the magnitude of auditor responsibility.
Methodology-The data for the present study has been collected from auditors and investors being sample respondents of the study. To collect information from respondents, the seven-section questionnaire was prepared and distributed to sample respondents. Sample respondents were chosen from different parts of India and Iran.
Findings–The results found that wide audit expectation gaps in both the countries in the area of auditors’ responsibilities exist. There were no much differences between the opinion of auditors as well as investors in both the countries.
Limitations–This study covers only the responsibility area it has not covered any other areas like, role, effectiveness, independence etc, and also only auditor and investors were approached to extract the data.

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