Audit firms seem split on whether they prefer to issue one audit report or two when giving companies opinions on financial statements and on internal control over financial reporting.
A group of KPMG auditors in Germany became curious about how auditors report on the integrated audit that the Public Company Accounting Oversight Board requires under Auditing Standard No. 2, which spells out how accounting firms should audit internal controls over financial reporting as required by Sarbanes-Oxley.
