3 Which of these statements is/are correct? | Reasons for increased litigation against auditors include recession and tough economic times resulting in business failures. Il If an auditor had the required knowledge and intentionally failed to fulfill a certain requirement in the contract, they may be guilty of contract fraud. ut of Select one: O a. Both () and (II) are correct. O b. Both (i) and (II) are incorrect O c. Only lis correct. O d. Only Il is correct