3 Faster Jets Co is an airline company and is a new audit client of Brown & Co. You are responsible for the audit of the financial statements for the year ended 30 November 2014. The draft financial statements recognise revenue of $150 million and total assets of $250 million. (a) During the year, Faster Jets Co purchased several large plots of land located near major airports at a cost of $12.5 million. The land is currently rented out and is classified as investment property, which is recognised in the draft financial statements at a fair value of $14.5 million. The audit partner has suggested the use of an auditor's expert to obtain evidence in respect of the fair value of the land. Required: In respect of the land recognised as investment property: (i) Explain the additional information which you require to plan the audit of the land; and (ii) Explain the matters to be considered in assessing the reliance which can be placed on the work of an auditor's expert.