The following threats are likely to occur and their respective safeguards to consider:

• Self-Interest:
  The audit firm, its partners, or associates could benefit financially or otherwise from an audit client.
  Safeguard: Ensure that the previous partner is not part of the engagement.
• Self-Review:
  A member of the assurance team having previously been employed by the client could influence the audit outcome.
  Safeguard: Ensure that the auditor who was previously employed by the client does not participate in the audit engagement.
• Familiarity:
  Long association with the client could lead to reduced professional skepticism and biased judgments.
  Safeguard: Have the work reviewed by independent professional auditors to maintain objectivity.
• Intimidation:
  An auditor may be pressured into accepting inappropriate accounting treatments by the client or former partners.
  Safeguard: Ensure the previous partner does not participate in the engagement.
• Advocacy:
  The auditor might end up advocating for the client, particularly when negotiating issues.
  Safeguard: Maintain clear boundaries and separate advisory services from audit services.