CAOB Auditing Standard No. 5, titled "An Audit of Internal Control Over Financial Reporting that is Integrated with an Audit of Financial Statements," provides guidance for auditors when performing integrated audits. Visit the PCAOB web site (pcaobus.org) and refer to the "Standards" tab. Read the auditing standard and address the following:

a. In what situations does the integrated audit apply?

b. According to the standard, what is the objective of an audit of internal control over financial reporting?

c. What is the role of risk assessment as it relates to the audit of internal control over financial reporting?

d. How should the auditor determine which controls to test?

e. How might the auditor use evidence obtained in the audit of the financial statements when concluding on the effectiveness of internal control over financial reporting?