what is the anwser? thnks

al standard on ale accounting esti gadsia028-2010- ured precisely. statement items are 2.2 COLECTIVE 23.5) Visit the following URL to learn about International Stand diting (ISA) 540: Auditing accounting estimates, including fair value accou mates, and related disclosures" http:/www.ilac.org/system/liles/downloads/a0283 wasb-handbook-isu - 540.pdf Para 2 mentions. Some financial statement items cannot be measured preci but can only be estimated. For purposes of this ISA, such financial statement ite rclerred to as accounting estimates. The nature and reliability of information availa to management to support the making of an accounting estimate varies widely w thereby affects the degree of estimation uncertainty associated with accounting estima The degree of estimation uncertainty affects, in turn, the risks of material misstatement accounting estimates, including their susceptibility to unintentional or intentional man agement bias." Required 1. What are the evidence that an auditor should obtain in order to get an understanding in order to provide a basis for the identification and assessment of the risks of mate rial misstatement for accounting estimates when performing risk assessment proce- dures and related activities? (Hint: The Requirements) 2. Your client, whose core business is selling groceries.owns a shopping mall in the heart of town. Recently the local government has announced that a new Light Rail Transit station will be built opposite the mall. With the new development, you are of the opinion that the mall cannot be valued accurately at historical cost. You have proposed that they engage a property valuation expert to revalue the property. Your client wants to know why you can't do the estimate yourself as "accountants are all experts in figures". al standard on ale accounting esti gadsia028-2010- ured precisely. statement items are 2.2 COLECTIVE 23.5) Visit the following URL to learn about International Stand diting (ISA) 540: Auditing accounting estimates, including fair value accou mates, and related disclosures" http:/www.ilac.org/system/liles/downloads/a0283 wasb-handbook-isu - 540.pdf Para 2 mentions. Some financial statement items cannot be measured preci but can only be estimated. For purposes of this ISA, such financial statement ite rclerred to as accounting estimates. The nature and reliability of information availa to management to support the making of an accounting estimate varies widely w thereby affects the degree of estimation uncertainty associated with accounting estima The degree of estimation uncertainty affects, in turn, the risks of material misstatement accounting estimates, including their susceptibility to unintentional or intentional man agement bias." Required 1. What are the evidence that an auditor should obtain in order to get an understanding in order to provide a basis for the identification and assessment of the risks of mate rial misstatement for accounting estimates when performing risk assessment proce- dures and related activities? (Hint: The Requirements) 2. Your client, whose core business is selling groceries.owns a shopping mall in the heart of town. Recently the local government has announced that a new Light Rail Transit station will be built opposite the mall. With the new development, you are of the opinion that the mall cannot be valued accurately at historical cost. You have proposed that they engage a property valuation expert to revalue the property. Your client wants to know why you can't do the estimate yourself as "accountants are all experts in figures