Which of the following statements is INCORRECT with respect to basic principles issued by SA 200 that govern the auditor’s responsibilities whenever an audit is carried out?
The auditor should not obtain knowledge about the client’s business to determine the nature, timing and the extent of the audit procedures.
Proper working papers should be maintained by the auditor to evidence the audit work.
The auditor should not disclose the client’s information to anybody without the client’s permission or under any regulatory requirement.
The auditor should be straightforward, honest, sincere and free from any influence on his audit work.
Option 1 : The auditor should not obtain knowledge about the client’s business to determine the nature, timing and the extent of the audit procedures.