PCAOB Auditing Standard 2315: Audit Sampling Overview

Do you understand PCAOB Auditing Standard 2315: Audit Sampling?

Audit sampling is the application of an audit procedure to less than 100 percent of the items within an account balance or class of transactions for the purpose of evaluating some characteristic of the balance or class. PCAOB Audit Standard 2315: Audit Sampling provides an overview of the guidance for planning, performing, and evaluating audit samples.

The purpose of audit sampling is to allow a systematic method to review less than all audit evidence while providing professionally acceptable work and minimizing costs, time, and resources. The objectives of audit sampling are as follows:

• Collect sufficient audit evidence to issue a conclusive audit opinion,
• Reduce the number of resources used,
• Detect any errors or fraud that can occur,
• Provide assurance that the audit was performed in accordance with auditing standards.

This event is a general review of PCAOB Audit Standard 2315 requirements:

• Purpose and background of AS 2315: Audit Sampling,
• Generally accepted audit sampling methods,
• Using samples for substantive audit tests of data,
• Using samples to determine the quality and reliability of internal controls,
• Using Dual-purpose sampling to perform both substantive audit tests and tests of internal controls.

This event does not get into the details and specific examples of how to properly adher to the auditing standard.

Follow the below links for further detail information:
Seminar Highlights
Learning Objectives
Key Issues on the Agenda

The following online training events have been developed by CCS to cover all the contents of PCAOB Auditing Standard 2315 and provide examples of the use of sampling and its documentation:

• PCAOB AS 2315 Overview
• PCAOB AS 2315: Substantive Testing
• PCAOB AS 2315: Internal Control Testing

We are focused on CPE training covering the needs of PCAOB auditors, internal auditors, compliance and other professionals. CCS has a number of CPE events covering the PCAOB Auditing Standards. We are providing the following training events using a online approach