Usually knocking noises which occur on full lock and when changing direction (i.e. backwards/forwards) can be attributed to worn C.V. joints on your driveshafts.
To check these find a quiet spot in a car park and do a few full-lock turns, one way then the other, forwards and reverse. If you have a worn joint it will usually show up as a clicking or knocking during this test. Also try to put down a bit of power while doing the test as this will show up joints with only slight wear.
Hope this helps
Toby