Summary of the audit Process PHASE I PHASE II Plan and design Perform analytical an audit approach procedures and tests of details of balances PHASE II PHASE IV Perform tests of Complete the controls and audit and substantive tests issue an audit of transactions report Arens, Loebbecke; Auditing, 8/ o2000 br Prentice Hall. IncArens, Loebbecke; Auditing, 8/E © 2000 by Prentice Hall, Inc. Summary of the Audit Process PHASE I Plan and design an audit approach PHASE II Perform tests of controls and substantive tests of transactions PHASE III Perform analytical procedures and tests of details of balances PHASE IV Complete the audit and issue an audit report