1. Identify and explain the business risk and the principal audit risks, the auditors had to consider while performing the audit of an aviation company.

2. The independent Auditor's Report contains a section on Auditors Responsibilities for the audit of the Financial statements. An independent Auditors report is required to contain a clear expression of opinion on the financial statements taken as a whole. Explain the conclusions which the independent Auditor must reach in order to form an opinion on the financial statements taken as a whole.