Final answer:
An integrated audit combines a financial statement audit with an audit of ICFR effectiveness providing assurance about the fairness of financial statements and the effectiveness of internal controls.
Step-by-step explanation:
An audit that combines the financial statement audit with an audit of the effectiveness of Internal Control over Financial Reporting (ICFR) is defined as an integrated audit. This type of audit provides assurance not only on the accuracy and fairness of the financial statements but also on the effectiveness of the company's internal controls. The purpose of an integrated audit is to evaluate both the financial statements and the processes, including the controls, that are in place to protect the integrity of the financial information reported.