7. In planning phase we will hold entrance meeting True 8. Time and Money are types of output of audit process mod 8. Time and Money are types of output of audit process mod TrueFalse 9. Interview of key staff on procedures will be in reporting p True 10. If the auditor plan to reduce assessed level of control risk, 10. If the auditor plan to reduce asses substantive tests of transactions. substantive tests of transactions. True 11. Gather information to assess fraud risk, it will be in phase True False 12. In phase 3 , there are two levels of risk. True False