CIMA's code of ethics establishes a conceptual framework that requires a professional accountant to identify, evaluate, and address threats to compliance with the fundamental principles. The conceptual framework approach assists professional accountants in complying with the ethical requirements of this code and meeting their responsibility to act in the public interest. There are a variety of threats that can impact an auditors compliance to the fundamental principles of the code. List and explain these 5 threats.

In relation to the threats mentioned above, certain safeguards can be implemented to reduce or eliminate these threats. What are these safeguards?