You have just been appointed as Auditor of Super Retail Group Limited. A copy of the Consolidated Statement of Comprehensive Income and Consolidated Statement of Financial Position for the period 30 June 2021 is attached at the end of this Exam paper. Prior to commencing the audit, you need to undertake a review of the company to assess the inherent risks of a material misstatement in the financial reports. Required Set out and describe the inherent risks of a material misstatement in the financial reports of Super Retail Group Limited and describe the steps you would take to determine these inherent risks. [17 marks) Include in your answer any calculations supporting your analysis of the inherent risks. Required Explain the characteristics of a satisfactory system of internal control.