#14

Tyffany and Troy are discussing the topic of integrated audits one day right after their auditing class. Tyffany mentions to Troy that she s unsure as to what exactly an integrated audit is, and asks Troy to provide an overview. Which of the following represents Troy's best response to this query? An integrated audit deals with the fact that both the external and internal auditors are usually involved in the audit, i.e. their work is integrated. An integrated audit gets its name from the fact that we audit both the client's internal controls over financial reporting, as well as its financial statements. An integrated audit is basically an audit of a client's financial statements and note disclosures. We are integrating both the quantitative and qualitative aspects of the audit. None of these answer choices are correct