In order to comply with AASB 108/IAS 8, determine whether the following changes should be accounted for prospectively or retrospectively.

1. A change in accounting estimate.

2. A voluntary change in an accounting policy.

3. A change in accounting policy required by a new or revised accounting standard.

4. An immaterial error discovered in the current year, relating to a transaction recorded three years ago.

5. In the current year, a material error was discovered relating to a transaction recorded three years ago. (management determines that retrospective application would cause undue cost and effort).