Overall:
Integrate audit is more than just an audit of financial statements. This type of audit normally includes a financial audit integrated with another non-financial information audit including operational, and information technology where the information throughout these areas are correlated.
These include operational auditing, compliance audit, and other technical audits like IT audit as well as environmental audit.
This happens mostly for the engagement with a public entity and nonprofit organization rather than the corporation.
For example, nonprofit organizations work on public health projects.
Audit engagement might not scope specifically on the financial audit, but it might also review the technical reports or projects that the organization spending for.
The engagement of integrating audit may join by audit firm with other technology firms.
Example:
The following are the common non-financial audit that is normally integrated with financial audits:
- Information technology audit
- ISO audit
- Compliance audit
- Operational audit
- Value for money audit
- Internal audit
Reporting of the integrated audit sometimes issues in one report with financial audit and sometimes issued separately depending on the requirement of the client.
This kind of audit help and benefit a lot of management, director, and shareholders.
They could assure that the fund or resources that the entity spends are for the purposes of the entity.
