3) You are working as an audit assistant in Oman Emirates Audit and Advisory Firm, Muscat. Technical Trading Company is a leading engineering and industrial products marketing organization, catering to diverse industries in Oman, is one of your clients. Technical Trading Company provided the financial statement for the year 2021 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 Balance Sheet of the company. (2 Marks) b) Differentiate the procedures to be followed while examining tangible assets and intangible assets of the company. (2 Marks) c) Provide some suggestions for the protection of assets of the company. (2 Marks)

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