On 1 July 2014 CHKS were appointed as auditors of Bromwell Pty Ltd (Bromwell). The company invests in commercial properties and derives its income from rents. The current Bromwell engagement partner is also an expert in valuing commercial properties, and in 2013 he was engaged by Bromwell to value a property which the company subsequently acquired. The property's value is material relative to the company's current property portfolio. The engagement partner is now in the planning stage of Bromwell's 2015 financial statements.

Required:

From the above scenario, identify any threats to compliance with the IFAC Code of Ethics for Professional Accountants.