1. Explain the purpose, nature and limitations of audits of general purpose financial statements and related regulation. 2. Apply International Standards on Auditing or other relevant auditing standards, laws, and regulations applicable to an audit of general-purpose financial statements. 3. Demonstrate the ability to make decisions about various elements of the audit risk model and determine how those decisions influence audit strategy, including the nature, timing, and extent of audit procedures. 4. Apply methods that are used in audit engagements to inform judgements, make decisions and reach well-reasoned conclusions relevant to the sufficiency and appropriateness of audit evidence. 5. Synthesise audit evidence to make recommendations as to the appropriate audit opinion to be issued. 6. Identify threats to compliance with the application of fundamental ethics principles in standard auditing contexts. 7. Communicate clearly and concisely when presenting and discussing knowledge and ideas related to auditing professional practice in informal situations. 8. Communicate straightforward auditing advice and ideas in writing to influence specialists and non-specialists.