b) Safeguards to be applied by an auditor:
i) Financial interest in the client:

• Disposing of the financial interest.
• Reviewing the work of an audit team member by another professional accountant.
• Removing the individual with the interest from the audit team.

ii) Loans and Guarantees to or from the client:

• Any loan taken by audit team members from the client must be on normal terms. If not, the individual should be excluded from the audit.
• If the audit firm has taken a loan from the client, the loan must be immaterial to both the firm and the client. If material, a third-party assurance provider should perform an external review of the audit.

iii) Business relationship with the client:

• Removing the individual involved from the audit team.
• Structuring audit team responsibilities so that the individual does not deal with matters within their responsibility.

iv) Family and personal relationship with the client:

• The individual should be removed from the audit team or assigned to unrelated audit matters.
• The audit team must ensure the individual’s actions do not impact financial statements directly.

v) Employment with an Assurance Client:

• Modifying the audit plan.
• Assigning individuals with sufficient experience to the audit team.
• Reviewing the work of a former audit team member by another professional accountant.