Final answer:
Integrated audits involve performing more audit procedures directed toward testing the effectiveness of internal control, which includes assessing the company's entire internal control structure.
Step-by-step explanation:
In comparison to financial statement audits, auditors who perform integrated audits typically perform more audit procedures directed toward testing the effectiveness of internal control. An integrated audit combines a traditional financial statement audit with an evaluation of the entity's internal control over financial reporting. The objective is to assess not only the accuracy of the financial statements but also the processes and controls in place that lead to the recording of these transactions.
While a financial statement audit focuses primarily on the accuracy of the financial statements, an integrated audit places additional emphasis on the effectiveness of internal controls to prevent and detect errors and fraud. Therefore, auditors need to perform more testing around internal controls compared to a financial statement-only audit to provide an opinion on the effectiveness of those controls. This includes understanding the control environment, evaluating the risk assessment process, monitoring control activities, and assessing information and communication, as well as evaluating the control activities themselves.