1. The test of theoretical knowledge included in the examination shall cover the following subjects in particular:

(a) general accounting theory and principles;

(b) legal requirements and standards relating to the preparation of annual and consolidated accounts;

(c) international accounting standards;

(d) financial analysis;

(e) cost and management accounting;

(f) risk management and internal control;

(g) auditing and professional skills;

(h) legal requirements and professional standards relating to statutory audit and statutory auditors;

(i) international auditing standards as referred to in Article 26;

(j) professional ethics and independence.

2. It shall also cover at least the following subjects insofar as they are relevant to auditing:

(a) company law and corporate governance;

(b) the law of insolvency and similar procedures;

(c) tax law;