Final answer:
When performing an integrated audit, the auditor evaluates both the financial statements and the internal controls to determine their accuracy and effectiveness.
Step-by-step explanation:
When performing an integrated audit (to issue an opinion on the financial statements and an opinion on internal controls over financial reporting), the auditor evaluates both the financial statements and the internal controls. The objective is to determine the accuracy of the financial statements and assess the effectiveness of the company's internal controls. This involves assessing the risk of material misstatement, testing controls, and providing an opinion on the fairness of the financial statements and the effectiveness of internal controls.