An auditor or audit company that becomes aware of a conflict of interest situation (circumstances impairing, or that a reasonable person would conclude impair, the ability to exercise objective and impartial judgment) takes all reasonable steps to end it as soon as possible and notifies ASIC if it persists, and audit firms and lead auditors have parallel duties (ss 324CA to 324CD); the specific relationship and employment restrictions in ss 324CE to 324CM also apply. For listed companies, listed registered schemes and registrable superannuation entities, an individual may play a significant role in the audit for no more than 5 successive years (or 5 in 7) before a 2-year break, unless the directors approve an extension under ss 324DAA to 324DAC (s 324DA).
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.