Problem: Claudo Accounting is auditing the parent group of CZAR Industries. CZAR subsidiary is being audited by King Associates. Which of the following is true with regards to Claudio's responsibility? Select answer from the options below Claudio Accounting is only responsible if the subsidiary audited by King Associates is an immaterial amount of the group financial statements. Claudio Accounting must ensure that the work done by King Associates meets the group engagement partner's requirements and standards. Claudio Accounting is responsible for the work of the component auditor. Claudio Accounting has a shared responsibility with King Associates in issuing the audit report on the group financial statements.