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List the Summary of the Audit Process in correct phases (from beginning to end of audit): Perform analytical procedures and tests of details of balances Complete the audit and issue and audit report Plan and design an audit approach Perform tests of controls and substantive tests of transactions

List the Summary of the Audit Process in correct phases (from beginning to end of audit): Perform analytical procedures and tests of details of balances Complete the audit and issue and audit report Plan and design an audit approach Perform tests of controls and substantive tests of transactions

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 11: List the Summary of the Audit Process in correct phases (from beginning to end of audit):

    1. Perform analytical procedures and tests of details of balances
    2. Complete the audit and issue and audit report
    3. Plan and design an audit approach
    4. Perform tests of controls and substantive tests of transactions

 

Phase 1 ______   Phase 2 ________ Phase 3 ________ Phase 4 ________

 

Give an example of each step.

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