What is one of the "overarching principles" for evaluating auditor independence according to the Yellow Book?

The overarching principle related to auditor independence, as outlined in the Yellow Book, emphasizes that auditors may not perform management functions. This principle is crucial because it helps ensure that auditors maintain objectivity and impartiality when conducting audits. If auditors were to take on a management role or engage in management activities, it could create a conflict of interest, impairing their ability to evaluate and report on the financial statements objectively. By restricting auditors from performing management functions, the integrity and reliability of the audit process are preserved, reinforcing public confidence in the audit results.

The other principles, while important, center around the broader notion of maintaining independence and integrity in the audit process.