During the audit of Wyndham Limited, the auditor used a variety of sampling methods based on areas selected for the audit test. Some methods were statistical and others non-statistical. Due to the extent of the audit, a decision was made to use the work of experts and include work done by internal auditors to supplement audit evidence gathered. An extract of the Statement of Financial Position for year ended 2021 December 31 is as follows: i. Property, plant and equipment $54 000 000 This figure includes buildings valued at $35 000 000; motor vehicles $5 000 000, plant and machinery $9 000 000 and investments $5 000 000 ii. Non-current liabilities amounted to $49 500 000 and current liabilities $2 350 000

C. Explain the following financial statement assertions with regards to account balances reported for buildings and non-current liabilities in the extract above: i. Presentation ii. Valuation (4 marks)

D. Provide TWO (2) reasons that investments would be selected for review by the auditor