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This needs no longer a complex set-up and should make administrator's life much easier.
Using Jira Automation
In addition to user actions like shown above, you can configure Jira Automations to trigger a revert based on an issue transition into another status (like a workflow post function) or other triggers.
Attention: please replace all spaces/blank-characters within your Group Sign-Off field name by a "+" like "Supervisor+Approval" instead of "Supervisor Approval" within the property key field.
No longer supported functions:
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