3) You are working as an audit assistant in Confidence Accounts & Audit Firm, Muscat. Al-Jazeera International Trading Company is the leading super markets in the Sultanate of Oman, is one of your clients. Al-Jazeera International Trading Company provided the financial statement for the year 2020 for conducting audit. Your chief auditor asked you to examine the Balance Sheet of the company.

a) Discuss the common procedures to be followed at the time of verifying assets and liabilities of the company

b) Differentiate the procedures to be followed while examining tangible assets and intangible assets of the company.

c) Provide some suggestions for the protection of assets of the company.