Which of the following is the PRIMARY benefit of using an integrated audit approach?
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A. B. C. D.D.
An integrated audit approach is an audit methodology that combines financial statement auditing with operational auditing, information technology auditing, and compliance auditing. The primary benefit of using an integrated audit approach is that it provides a holistic perspective of overall risk and a better understanding of controls, making option D the correct answer.
Option A, higher acceptance of the findings from the audited business areas, is a potential benefit of using an integrated audit approach, but it is not the primary benefit. When an auditor uses an integrated audit approach, they can identify risks that are relevant to the financial statements and to the operations of the organization, which can help them to better understand the business as a whole.
Option B, the avoidance of duplicated work and redundant recommendations, is another benefit of using an integrated audit approach. By combining different types of audits, the auditor can identify areas of overlap and avoid repeating work unnecessarily. This can help to reduce the overall audit time and costs, which can lead to a better allocation of resources.
Option C, enhanced allocation of resources and reduced audit costs, is related to option B, but it is not the primary benefit of using an integrated audit approach. The primary benefit is the better understanding of overall risk and controls, which can help the auditor to provide more valuable insights and recommendations to the organization.
In summary, the primary benefit of using an integrated audit approach is the holistic perspective of overall risk and a better understanding of controls, which can help the auditor to provide more valuable insights and recommendations to the organization.