Indicate and explain why you agree or disagree with each independent statement.

Sampling is routinely performed by auditors in all areas of the audit, on every audit.

When audit sampling and considering sampling risks and errors, auditors are particularly concerned with avoiding effectiveness risk, as opposed to efficiency risk.

General internal control considerations include segregation of incompatible duties, employee supervision and bonding of employees.

When confirming accounts receivable balances, positive confirmations are considered more reliable than negative confirmations.

When auditing Payroll, significant risks to consider include (but are not limited to) the presence of fictitious employees on the payroll register and over-payment of employees.

When auditing large dollar finance and investment transactions, good controls tend to decrease the amount of substantive testing required.