Copy - editing and proofreading
Usually done before typesetting, copy-editing involves:
ensuring that all of the elements of the manuscript are present
imposing house style and consistency (especially important for multi-author manuscripts)
checking for spelling, grammar and punctuation
Usually done after typesetting, this involves:
checking all of the elements of the layout design have been imposed correctly;
checking for spelling, grammar and punctuation; and
checking running headers, page numbers, tables of contents, etc.
While the ideal might be waiting for a complete manuscript before copy-editing, typesetting and then proofreading, the reality is often somewhat different and when dealing with time-sensitive reports with contributions from multiple authors, flexibility without compromising accuracy is key.