Mai is a senior auditor and member of the team auditing a long-standing client, the listed public company Kaycee Ltd. Mai's husband's aunt died recently, and the estate is being finalised. Mai's husband has just received a letter from the executor of his aunt's estate advising that he will receive a large parcel of shares in Kaycee Ltd from the estate, in addition to cash and other property. Mai and her husband didn't know that his aunt had included him in the will, and they had not realised that his aunt was a large shareholder in Kaycee Ltd.

Required:

• Does this situation pose a conflict of interest for Mai, given that it is her husband and not herself who is about to inherit shares in Kaycee Ltd? (You must explain your reasoning.)
• How can a company control and manage conflicts of interest?