Question $1$

Indicate whether you agree or disagree with the following statements and explain your reasoning.

a$)$ Helen Holt was explaining to her group partner that the completeness assertion implies that transactions and events that have been recorded have occurred and pertain to the entity.

b$)$ Keith Lake was explaining to Ben Fitz how sampling risk works for the audit team: "Sampling risk is the risk that as auditors we will arrive at a conclusion that has nothing to do with sampling issues."

c$)$ Larry Baneiro was vehemently arguing about the benefits of using non$-$statistical versus statistical sampling methods for a client in the excavation business. Here is what he had to say about non$-$statistical sampling: "Non$-$statistical sampling is easier to use than statistical sampling, it requires less staff training, it has lower cost, and it allows an auditor to make a sample choice that they believe is appropriate."

d$)$ Georgia Walters has started her sample selection of sales transactions for a gemstone conglomerate. She believes that she can improve audit efficiency by stratifying the sample.