Micro-Credential Course of Audit Expectation Gap: Blaming Game, Fix the Audit Misconception V2.1

Auditors play a crucial role in upholding the trust and integrity of audited financial statements, a
cornerstone of the financial ecosystem. While the specific duties of auditors are described in auditing standards such
as the International Standard of Auditing (ISA) and the Malaysian Companies Act 2016 (CA 2016), there persists
a widespread misunderstanding regarding their duties. Often, auditors are wrongly perceived as solely responsible
for detecting fraud, leading to misplaced blame in cases of business failures and financial scandals, as seen in legal
proceedings involving Serba Dinamik and 1Malaysian Development Berhad (1MDB). To bridge this expectation
gap and misconceptions, public understanding of auditor roles must be clarified, a challenging yet essential task for
the maintenance of financial systems’ credibility. In response to the issue, a Micro-Credential online course titled
“Micro-Credential Course of Audit Expectation Gap: Blaming Game, Fix the Audit Misconception V2.1” has been
developed, leveraging contemporary teaching methodologies of eLearning to enable borderless education on the
dynamics between auditors and management, aiming to rectify the misconceptions. This initiative will not only
address the immediate need for clarity about auditor and management roles but also align with Sustainable
Development Goal (SDG) 4: Quality Education, by offering free access to knowledge for everyone. Through this
social innovation, the aim is to cultivate a healthy financial environment, underpinned by informed understanding
fostered through independent learning.