Which of these statements is/are correct relating to the conduct of an audit? | Privity of contract exists between the auditor and clients' attorneys, and due professional care must be exercised in all dealings with management. IL A CPA must exercise due professional care and cannot rely on all representations from management of the client company. Select one: O a. Only Il is correct. b. Only 1 is correct. C. Both (1) and (II) are correct. O d. Both (1) and (II) are incorrect