Your client, Fun Ltd, engaged the services of Joker & Co, a firm of real estate valuers, to perform a valuation of all real estate held by the company. As a result of the valuation, property values on the balance sheet were significantly increased, leading to a material increase in net asset backing per share. Required: a. Describe in detail the audit procedures that would be required with respect to the valuation performed by Joker & Co. (10 marks} b. Explain whether the procedures identified in ( a ) would change if employees of Fun Ltd had performed the valuations. {2 marks} c. Assume that you are not satisfied with the results of the procedures performed. Explain three alternative procedures that could be performed. {3 marks}