20. What is independence? Why is independence necessary of auditors? 21. What is materiality? Why is this important in auditing of nancial statements? 22. What duty does the auditor have to the client with respect to divulging condential or privileged information? 23. What is due diligence? 24. What is due professional care? 25. What is professional scepticism? 26. What steps should an auditor take prior to accepting a new client or continuing with an old client? 27. What standard of duty does the auditor owe to the client with respect to the work to he done? r... _-.n 1.1-\