Which one of the following statements is false?
◦ Confidentiality is broken when an auditor is presented with a subpoena concerning an audit client.
◦ Information that a CPA obtains from a client is generally not privileged.
◦ When a CPA firm conducts an AICPA-authorized peer review of the quality controls of another CPA firm, permission of the client is not needed to examine audit documentation.
◦ A CPA firm which observes substandard audit documentation of another firm during a peer review can initiate a complaint to the AICPA.