Which of the following statements in relation to direct ELCs is correct? In integrated audits, we can not leverage monitoring ELCs, in combination with other controls, to reduce or eliminate the testing of transaction-level controls meeting the same objectives. If we plan to rely on direct ELCs in determining the extent of our substantive procedures, we obtain an understanding and perform an evaluation of these ELCs but we do not test these controls. Our ability to identify direct entity-level controls that function as transaction-level controls may be enhanced by focusing only on controls within the information and communication component of the system of internal control. In some cases, we may conclude that certain ELCs, in combination, function as direct ELCs that are effective in reducing the risk of material misstatement for relevant assertions related to significant accounts