1. Business and Industry Knowledge: The auditor must have a good understanding of the business operations and the industry in which the company operates.

2. Risk Assessment: The auditor must identify and assess the risks associated with the company's financial statements and operations.

3. Internal Control: The auditor must evaluate the company's internal control systems to ensure that they are effective and reliable.

4. Materiality: The auditor must determine the materiality level of the financial statements to focus on the significant areas of the audit.

5. Audit Evidence: The auditor must collect sufficient and appropriate audit evidence to support the financial statements.

6. Fraud and Error: The auditor must assess the risk of fraud and error in the financial statements and take appropriate measures to detect and prevent them.

7. Going Concern: The auditor must assess the company's ability to continue as a going concern.

8. Accounting Policies: The auditor must evaluate the company's accounting policies to ensure that they are in compliance with the relevant accounting standards.

9. Related Parties: The auditor must identify and evaluate any transactions with related parties to ensure that they are disclosed and accounted for appropriately.

10. Regulatory Compliance: The auditor must assess the company's compliance with the relevant laws and regulations.