The value of an integrated audit
A) Is limited to its effects on the capital markets since integrated audits are conducted only for publicly traded companies.
B) Extends to various groups and probably is different for the different people and entities.
C) Is exactly the same as the value generated by a financial statement audit of a nonpublic company.
D) None of the above are correct.

Question

Quizplus · Accepted Answer

The value of an integrated audit extends beyond its effects on capital markets and can have different impacts for various groups such as management, investors, regulators, and auditors. Therefore, option B is the correct choice. Option A is incorrect because integrated audits can also be conducted for private companies. Option C is also incorrect because the value generated by an integrated audit is likely to be greater due to the additional requirements and testing compared to a financial statement audit of a nonpublic company.

The Value of an Integrated Audit