1. Audit procedures for a. Revenue b. AP, AR c. Cash and cash equi.s d. Accrued Expenses 2. How to find Unrecorded Liabilities ( IMPORTANT ) 3. Materiality and it's types 4. Audit opinion and it's types 5. What is TOC and how it is different from Sustantive Audit procedures 6. Ind AS 115 - 5 step model 7. Difference between Ind AS 116 and prev AS 8. What is Risk Assessment

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Audit procedures for different areas like revenue, AP, AR, cash and cash equivalents, and accrued expenses involve testing transactions, balances, and controls.
To find unrecorded liabilities, auditors can review vendor invoices, bank statements, and contracts, and perform analytical procedures.
Materiality in auditing refers to the significance of an item or error in financial statements, with types including quantitative, qualitative, and performance materiality.
Audit opinions like unqualified, qualified, adverse, or disclaimer are based on the auditor's assessment of the financial statements.
Tests of controls (TOC) assess the effectiveness of internal controls, while substantive audit procedures focus on verifying account balances and transactions.
Ind AS 115's 5-step model outlines how to recognize revenue from contracts with customers, including identifying the contract, identifying performance obligations, determining the transaction price, allocating the transaction price, and recognizing revenue.
Ind AS 116 replaced the previous AS for lease accounting, changing how lessees account for leases by requiring them to recognize most leases on the balance sheet.
Risk assessment in auditing involves identifying and assessing risks of material misstatement in financial statements, including inherent, control, and detection risks.

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