An "integrated audit" includes an audit of what?
A)The company's internal controls.
B)The company's financial statements.
C)The company's compliance with its rules and policies.
D)Both A and B.

Question

Quizplus · Accepted Answer

An integrated audit includes both an audit of the company's internal controls and an audit of the company's financial statements. This type of audit is designed to evaluate and assess the effectiveness of a company's internal controls over financial reporting and to determine whether the financial statements are materially accurate and in compliance with generally accepted accounting principles. It is a comprehensive audit that combines elements of both a financial statement audit and an audit of internal controls.

An "Integrated Audit" Includes an Audit of What