What’s the word on applying to a job at a client?

Just noticed a position that opened up at one my clients that I'm really interested in.  I've worked on this client pretty much the entire time I've been with my firm (just over 3 years), and not really sure what the risks/repurcussions are.  I don't interact with any of the individuals within this particular business, and I'm pretty low level on the audit team food chain relatively speaking, but wouldn't want it somehow coming back to bite me by just applying.  Anyone have any experience with this?