What is the motive behind the PCAOB Integrated Audit Concept?
A) Elevation of importance of internal controls
B) Improvement of the quality and integrity of both internal controls over financial reporting and independent financial statement audits
C) Improvement of the speed and reliability of both corporate financial reporting and independent financial statement audits
D) Elevation of importance of independent financial statement audits

Question

Quizplus · Accepted Answer

The motive behind the PCAOB Integrated Audit Concept is to improve the quality and integrity of both internal controls over financial reporting and independent financial statement audits. This is achieved by integrating these two audits, which helps auditors better identify financial reporting risks and assess the effectiveness of internal controls.

What Is the Motive Behind the PCAOB Integrated Audit Concept