You are the audit manager of Azhar & Co, responsible for the year-end audit of Nasir Co. Nasir Co owns three offices. During the year, one of the company's properties was revalued from Rs.203 million to Rs.238 million by an independent expert valuer. Required:

(a) Describe the factors Azhar & Co should consider when placing reliance on the work of the independent valuer.

(b) (i) Comment on the acceptability of the revaluation.

(ii) Besides evaluating the independent valuer's report, describe four procedures the auditor should carry out to gain evidence over the adequacy of the value of the workshop and the related disclosures included in the financial statements.