1) LIMITATIONS OF AUDITING 2) LEVELS OF ASSURANCE 3) AUDITORS RIGHTS AND DUTIES 4) APPOINTMENT, RESIGNATION AND REMOVAL OF AUDITORS 5) PRINCIPLES OF COMBINED CODE OF CORPORATE GOVERNANCE 6) TURNBULL GUIDELINES – VERY USEFUL FOR ANSWERING LOTS OF QUESTIONS 7) ROLE AND FUNCTION OF AUDIT COMMITTEE 8) DRAWBACKS/WEAKNESS OF AUDIT COMMITTEE 9) DIRECTOR’S RESPONSIBILITIES TOWARDS INTERNAL CONTROL 10) FUNDAMENTAL PRINCIPLES OF PROFESSIONAL ETHICS 11) THREATS TO INDEPENDENCE 12) ENGAGEMENT LETTER 13) DISTINCTION BETWEEN INTERNAL AND EXTERNAL AUDIT 14) PROBLEMS WITH VFM AUDITING 15) OUTSOURCING INTERNAL AUDIT FUNCTION 16) INHERENT, CONTROL AND DETECTION RISKS 17) UNDERSTANDING ENTITY AND ITS ENVIRONMENT 18) SUBSTANTIVE PROCEDURES 19) OVERALL AUDIT STRATEGY 20) EVERYTHING ABOUT WORKING PAPERS PLEASE! 21) QUALITY OF AUDIT EVIDENCE 22) FINANCIAL STATEMENT ASSERTIONS 23) AUDIT PROCEDURES TO OBTAIN EVIDENCES 24) ELEMENTS OF INTERNAL CONTROL 25) TESTS OF CONTROLS 26) INTERNAL CONTROLS IN A COMPUTERISED ENVIROMENT 27) THE SALES SYSTEM 28) THE PURCHASES SYSTEM 29) THE INVENTORY SYSTEM 30) THE CASH SYSTEM 31) THE PAYROLL SYSTEM 32) REVENUE AND CAPITAL EXPENDITURE 33) SUBSTANTIVE PROCEDURES 34) TYPES OF AUDIT TESTS 35) ACCOUNTING ESTIMATES 36) AUDIT SAMPLING 37) CAAT 38) ASSESSMENT OF INTERNAL AUDIT 39) Audit objectives for tangible non-current assets 40) Audit procedures for tangible non-current assets 41) AUDIT PROCEDURES FOR INVENTORY 42) CUT-OFF AND VALUATION 43) AUDIT PROCEDURES FOR RECEIVABLES 44) CASH AND BANK 45) Audit procedures for trade payables and accruals 46) NON CURRENT LIABILITIES 47) AUDIT OF PROVISIONS 48) CAPITAL 49) AUDIT AND NON PROFIT ORGANISATION 50) AUDIT REVIEW