misstatement risk for accounts FIGURE 15-1 receivable Assess control risk for Phase I d collection cycle Design and perform METHODOLOGY FOR tests of controls and substantive tests DESIGNING TESTS OF of transactions Phase ll DETAILS OF BALANCE for the sales and n cycle FORACCOUNTS RECEIVABLE perform analytical procedures for ase ble balance Audit details of accounts receivable balance Sample size Phase lll Items to select Arens. Loebbecke; Auditing, 8/E audit objectives Timing @2000 Prentice hall. IncArens, Loebbecke; Auditing, 8/E ©2000 Prentice Hall, Inc. FIGURE 15 - 1 METHODOLOGY FOR DESIGNING TESTs OF DETAILS OF BALANCE FOR ACCOUNTS RECEIVABLE