Sch 1 para 4
(1) Standards must ensure that A does not accept appointment as a statutory auditor (or, if already appointed, resigns from such an appointment) if there is any qualifying threat created by financial, personal business employment or other relationships between the audited person and- (a) A, (b) any member of A's network, or (c) any individual in a position to influence the outcome of the statutory audit. (2) In this paragraph “ qualifying threat ” means a threat of self-review, self-interest, advocacy, familiarity or intimidation which would cause an objective, reasonable and informed third party, taking into account any safeguards applied, to conclude that A's independence is compromised.