The problem of integrated fault detection and fault tolerant control for switched systems with asynchronous switching is focused on in this paper. Based on the switched model, the inherent asynchronous switching is taken into consideration. The asynchronous switching means that the switching of filters/controllers will always lag behind the switching of modes, which will degrade the performance of the closed-loop system. The Lyapunov functional method and mode-dependent average dwell time method are combined for the analysis of the finite-time stability of the switched system. The properties of each subsystem are taken into consideration, which are less conservative. To achieve optimal performance, the filters and controllers are designed simultaneously. The parameters of filters and controllers are given in the form of linear matrix inequalities. In the end, the numerical example is given to illustrate the effectiveness of the proposed method.