AUDITING Part 1 The auditor and the nature of auditing: historical background; the office of auditor - regulatory framework; the audit in outline - stages in audit process. Part 2 Audit procedures: initial procedures; accounting systems and internal controls ascertaining, recording and evaluating; testing the accounting records; the balance sheet audit - verification of assets and liabilities; review of financial statements. Part 3 Auditing reports and qualifications: true and fair reporting. Part 4 Problems relating to the small company. Part 5 Legal decisions affecting the auditor: liability. Part 6 Mechanized systems: the audit of computerized auditing systems. TAXATION Part 1 Direct and indirect taxation: value added tax. Part 2 Income tax: statutory income total; computations; personal allowances; husband and wife; life assurance, pensions and annuities; income from land and buildings; capital allowances on plant and machinery; industrial buildings allowance; losses; partnerships. Part 3 Corporation tax: computation of profit and tax liability; mainstream corporation tax; quarterly accounting; losses. Part 4 Capital gains tax: computations; principle private residence; chattels; wasting assets; leases; retirement relief and loans; holdover and rollover reliefs; investments.
