Recently, research on the role of educational institutions in the Era 5.0 in finding solutions and contributing to the needs of students, organizations and society in general has sparked interest within communities and the nation, due to its power and character of innovation and transformation. Thus, and considering the new challenges posed to universities/higher education institutions by Industry 5.0 and Society 5.0, we intend with this paper to promote reflection on the role of Universities 5.0 in the accounting profession in the Era of Education 5.0.Given the recent discussion on the subject, this paper was developed based on a thematic literature review of the last decade, using the “Scopus” database from Elsevier and “Google Scholar”, to contribute to the discussion of the role of universities in the process of change, adaptation and transformation of professions, as well as in the preparation of the accountant in this digital era, the era of Education 5.0.We have found that the role of universities is crucial in the process of change, transformation and innovation of professions, organizations, and societies. Universities in the Era 5.0 must be at the forefront of the process of sustainable education and training to meet the needs of society. However, there is still a long way to go, and it demands speed in the teaching, pedagogical, organizational and social practices of these educational institutions. We will contribute to the reflection on the potential and implications of new technologies in the dissemination of Social Responsibility and sustainability practices.

The function of the external audit, largely as a result of the scandals and financial crises that have occurred, has been the subject of debate and criticism. This aspect has fostered discussions around the Audit Expectation Gap, which, in short, is understood as the differences in expectations between the audit’s results and what is expected from it. In this context, the present study aimed to evaluate the existence of the Audit Expectation Gap in the external audit of banks in Mozambique. For this purpose, auditors, regulators/supervisors, managers and financial staff from banks and companies were surveyed. The results showed statistically significant differences in the opinions of respondents regarding matters related to the scope and objective of the audit, materiality and risk, and different aspects of responsibility. Thus, evidence was obtained that, in addition to reviewing audit regulations for Mozambican credit institutions and financial companies, there is a need for clarification of matters such as the level of security in external audits (which cannot be absolute); the responsibilities of management and auditors in areas such as assessing and reporting compliance with the ratios and prudential limits imposed by the Bank of Mozambique; assessing the suitability of risk management at the bank; and the prevention, detection and reporting of fraud.

The most popular frauds known in the early 21st century eroded investor and society confidence in the financial markets contributing to economic and social destruction. In response, the United States enacted the Sarbanes-Oxley Act (SOX) and the European Union issued several regulatory instruments, but the fraud cases have continued. Motivated by the idea that if we understand where the possible causes are, then the problem of fraud can be avoided or at least reduced in its dimensions and consequences. So, this study intends to understand the causes of fraud and its relevance, identifying their common points and also measuring if they changed in the post-SOX period. From the analysis carried out, it results that the lack of an ethical tone in top management is the cause that remains transversal to both sides of the Atlantic and to the two periods studied. In the post-SOX period, the fraudulent financial statements lost relevance, ceasing to be part of the most relevant causes, and internal control failures became one of the most relevant causes.

In order to restore user confidence and minimize differences in audit expectations gap, changes to the audit report model were introduced in 2016. Thus, this work aims to contribute to the determination of the effectiveness of these changes, analyzing their effect on the auditor's opinion. From the content analysis of audit report, between the years 2013 and 2018, of a sample of 197 Portuguese corporations, it is concluded that the changes to the audit report model do not have a statistical significant effect on the number of qualifications and emphases issued per report, as well as on the number of different types of qualified opinions (limitation or disagreement), however, the same is not true with regard to the indication of continuity uncertainties, as these present a statistically significant reduction.