In your own words and understanding, list and explain briefly the phases/ steps of a control evaluation of a client's internal control system- it's design, placement, and operating effectiveness of their internal control system, and how to incorporate auditors' control risk assessment result** into audit plan (substantive audit testing plan).

Please begin with the first step: "understanding your client internal control structure" for first time as a new client, and finish as the last step: "developing audit strategy/ audit program (meaning; designing your audit procedures with determining the nature, extent, timing of audit testing plan).

**result from tests of controls performed by auditors (only if they have performed) and result from auditors' assessed control risk steps.

Remember ?: N-E-T (Nature, Extent, Timing)