Jimmy Parker, a qualified accountant, is leading an internal audit team at TT Co investigating why a major project is currently incurring high costs and overrunning its planned deadlines for completion. Parkers sister is the project manager, although no-one else in the company knows about their relationship. The project is critical to moving customers from a slow and old computer system to a new customer relationship management (CRM) system where all data held on customers can be integrated, and more easily accessed and analyzed. If the project looks likely to incur further significant cost overruns, it is likely to be canceled by the board, as it will not represent value for money. However, if the project is not completed, many members of staff, including Parkers sister, are likely to lose their jobs. Parker is under pressure to report to the audit committee on his teams evaluation of the project. Should he conclude and report that the project is no longer viable, it will be immediately terminated. Parkers sister is very aware of his predicament and is putting immense pressure on him to misrepresent the true status of the CRM project. She expects her brother to write a favorable report to the audit committee and recommend that the project should be allowed to complete as planned. TT Co does not have its own corporate code of conduct. However, as a qualified accountant, Jimmy Parker is reliant on his professional judgment when deciding what to do next. Required. Evaluate the ethical threats currently faced by Jimmy Parker and discuss possible safeguards which could have helped to prevent this situation.