Which of the following statements about the Securities Act of 1933 is not true? O The third party user does not have the burden of proof that she/he relied on the financial statements. The third party has the burden of proof that the auditor was either negligent or fraudulent in doing the audit. O The third party user does not have the burden of proof that the loss was caused by the misleading financial statements. The auditor will not be liable if she/he can demonstrate due diligence in performing the audit. During an audit of a new client, the auditor obtains several pieces of information from difference sources. Which source of evidence would be considered the most valid (reliable)? A reconciliation of the payroll records prepared by the client. A bank statement received from the client. Information received from a discussion with client management. Accounts receivable confirmation sent directly to the auditor