Moving live site to local

Hi There is a live ExpressionEngine site I am working with.

I’m about to leave a job, but want to create a local version of the site so someone here can followup on some redesign ideas..I’ve not worked much with this system, so I essentially installed an empty ExpressionEngine install locally.

I’d like to transfer the live site to the local; I imagine this involves exporting the database of the live site, then importing it; then copying the files over from the live to the local.

Will that do the trick? My research has led me to see that there may need to be more modification.

Thanks so much

Michael