Answer question 2 based on SINGAPORE AIRLINES LATEST FINANCIAL REPORT link below https://www.singaporeair.com/en_UK/sg/about-us/information-for-investors/annual-report/

Question 2 In addition to evaluating audit risk, the auditor must make a preliminary estimate of materiality when planning the audit. When establishing the overall audit strategy, the auditor must determine materiality for the nancial statements as a whole. Illustrate your calculation of overall materiality for the Singapore Airlines audit engagement. Use the most recent year's audited nancial statements. You also need to provide justication for the materiality level that you determined. (6 marks) Question 3 Analytical procedures involve the use of ratios, trend analysis and operating statistics for comparison with internal and external data. The use of analytical procedures during audit planning helps the auditor to identify areas requiring audit attention, and helps determine the nature, timing and extent of audit procedures. Analytical procedures provide a base to determine the reasonableness of the nancial statements, which points the auditor to areas requiring extra attention. (a) Employ the following analytical procedures based on Singapore Airlines' nancial statements. To do so, you need to form expectations using comparative data, such as Singapore Airlines' prior year data and industry average data. Present the following in your report to the audit partner: - Perform simple comparisons by comparing the gures in Singapore Airlines' Statements of Financial Position and Prot and Loss Accounts for the current year with that of previous year(s). You may also calculate percentage relationships between balances that are expected to be related (e.g. receivables and bad debts, etc.). Which gures/relationships have changed signicantly? 0 Perform ratio analysis to gain a better understanding of Singapore Airlines. (7 marks) (b) Based on your analysis in (a), choose four (4) accountsftransactions and: (i) Show the impact on Singapore Airlines' inherent risk. (ii) Indicate reason(s) supporting why inherent risk has changed for these four (4) accounts/transactions that you have identied