Your baby son was born one month ago and your brother bought some shares in the company ABCD for your son. You are on the audit engagement team for company ABCD. What do you need to do to comply with independence policies in relation to these shares?

Report the shares on your KPMG Independence Compliance System (KICS) account within 14 days, if you're required to maintain a KICS account

Dispose of the shares immediately and notify the Ethics and Independence group in your local member firm

Monitor the value of the shares to ensure that they do not become material to your net worth

There is no action or concern since my son is a newborn and my brother bought the shares