Benjamin $($an audit manager$)$ has been assigned to the audit of MPc$.$ Ely, a childhood friend of Benjamin's, ison MPC$\text{'}$s internal audit staff. Benjamin believes he could provide services to this client in an objective mannerbut is concerned about the appearance of his independence. He applies the AlCPA conceptual frameworkapproach and determines that threats to his independence are sianificant, which statement best describeswhat Benjamin should do next in applying the conceptual framework?

Ask his friend to resian his position at MPC immediately.

reduce the threats to an acceptable level.Consider whether safeauards may be appled that

should include a sworn statement from FlvDocument his assessment of

Not participate in the audit unless he obtains a waiver from his firm's general counsel.