Answer:
Statement 1 and 3.
Explanation:
Conflict of interest exist when a party has more than one interest in the interest of another party, for example when an employee has an interest or has another company doing exactly what his employer is doing and still working with this employer, here a conflict of interest exist.
An engineer may take such employment, if both parties are informed of potential conflict of interest, it shows that when such happens the decisions makers are already aware and it might not possibly affect his work, secondly when all the parties involved are informed about it ,so that when it happens it does not affect him.
