An integrated audit focuses on ________.
A)integrating the internal and external audit functions
B)auditing both internal control over financial reporting(ICFR) and the financial statements
C)integrating component auditors
D)comparing prior year results with the current year to look for abnormalities

Question

Quizplus · Accepted Answer

An integrated audit focuses on auditing both internal control over financial reporting (ICFR) and the financial statements. Integration means that the auditor assesses the effectiveness of internal control over financial reporting as part of the financial statement audit. This approach allows the auditor to evaluate both the adequacy of financial reporting and the strength of the related internal control environment.

An Integrated Audit Focuses on ________