The conceptual framework refers to the concept of safeguards. Which of the following is an example of safeguards created by the firm?

Policies and procedures that are designed to identify interests or relationships between the firm or its partners and professional staff and the firm's clients.

Rotation of senior personnel who are part of the engagement team, and policies and procedures that are designed to identify interests or relationships between the firm or its partners and professional staff and the firm's clients.

Rotation of senior personnel who are part of the engagement team, and policies and procedures that are designed to identify interests or relationships between the firm or its partners and professional staff and the firm's clients, and documented policies regarding the identification of threats to compliance with the rules, the evaluation of the significance of those threats.

Documented policies regarding the identification of threats to compliance with the rules, the evaluation of the significance of those threats, and the identification and application of safeguards that can eliminate identified threats, as well as policies and procedures that are designed to identify interests or relationships between the firm or its partners and professional staff and the firm's clients.