5. Axel was the auditor of Pimpam Limited (Pimpam). In conducting the audit of Pimpam, Axel fully adhered to the Australian Auditing Standards (ASAs). Pimpam's management had informed Axel that the audit report would be submitted to several banks for the purposes of obtaining financing to fund a planned business expansion. ZAN Bank Limited (ZAN) relied on the audit report issued by Axel and gave Pimpam a significant loan. Pimpam subsequently defaulted on the loan, and ZAN has sued Axel as a result. Axel will most likely: a) Win, because there is insufficient proximity between Axel and ZAN. b) Lose, because Axel knew that banks would be relying on the financial report. C) Win, because ZAN was contributorily negligent in granting the loan to Pimpam. Lose, because Axel was negligent in performing the audit by failing to adhere to the ASAs