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9. Which of the following statements is correct, when obtaining understandingabout the client’s business?a. For continuing engagements, the auditor may no longer obtainknowledge about the client’s business.b. The level of knowledge required of the auditor is ordinarily more than thelevel of knowledge possessed by management.c.Preliminary knowledge about the entity’s industry must be obtained afteraccepting the engagement to determine whether the auditor has thenecessary knowledge to perform the audit.d. Following the acceptance of the engagement, the auditor should obtaindetailed knowledge about the client’s business preferably at the start ofthe engagement.10.The auditor’s understanding of the entity and its environment assists the