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PCAOB AS 2305: Substantive Analytical Procedures

PCAOB AS 2305: Substantive Analytical Procedures

Join us for an insightful CPE event as we delve into the intricacies of PCAOB Auditing Standard 2305, focusing on Substantive Analytical Procedures. Designed for auditors, accountants, and professionals involved in financial reporting and auditing, this two-hour event aims to provide a comprehensive understanding of the standard and equip attendees with practical knowledge to effectively implement it in their engagements.


Throughout the event, our expert instructor will guide participants through an engaging journey, combining theory, practical examples, and interactive discussions. By the end of the event, attendees will gain a solid grasp of Auditing Standard 2305 and its critical role in ensuring the integrity and reliability of financial statements.


Our experienced instructors will then dive into the core principles and concepts of substantive analytical procedures. Attendees will grasp the distinction between substantive procedures and tests of controls, and understand how these procedures contribute to the acquisition of robust audit evidence.


A crucial aspect of implementing Auditing Standard 2305 lies in the planning and design of substantive analytical procedures. Executing substantive analytical procedures can present unique challenges. The instructor will provide guidance on identifying reliable sources of information and data, ensuring the accuracy and validity of results obtained from these procedures.


Evaluating the results obtained from substantive analytical procedures is a critical step in the audit process. Participants will learn how to assess the reasonableness of these results and determine whether further procedures are necessary. The importance of documentation will also be emphasized, with insights into the requirements for documenting substantive analytical procedures.


Join us for this comprehensive two-hour CPE event, and equip yourself with the knowledge and skills to confidently apply PCAOB Auditing Standard 2305 in your auditing engagements. Discover how substantive analytical procedures contribute to effective audits, enhance your ability to assess financial statements, and fortify your professional expertise in the evolving landscape of auditing standards. Don't miss this opportunity to gain a competitive edge in your career. Register now!


Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

  • Details on Event Presentation

    Being offered twice a quarter on Thursdays at 10:00 a.m. to 12:00 noon Central Time.

    We can schedule private events on your timetable for two or more attendees.

  • CPE Event Highlights

    • Introduction to PCAOB Auditing Standard 2305 with a brief overview of the PCAOB and its role in auditing standards.
    • Explanation of the purpose and scope of Auditing Standard 2305.
    • Importance of substantive analytical procedures in the audit process.
    • Understanding Substantive Analytical Procedures by defining and underatnding the objectives of substantive analytical procedures.
    • Seeing the role of substantive analytical procedures in obtaining audit evidence.
    • Planning and Designing Substantive Analytical Procedures.
    • Executing Substantive Analytical Procedures; Data gathering and analysis techniques for conducting substantive analytical procedures.
    • Identifying reliable sources of information and data.
    • Evaluating Results and Documentation:Assessing the reasonableness of the results obtained from analytical procedures.
    • Documentation requirements for substantive analytical procedures
  • Learning Objectives

    This event will impove the PCAOB auditor's efficiency and effectiveness by:

    • Understanding how to respond to risks with substantive analytical procedures,
    • Gaining practical insights on applying analytical procedures,
    • Evaluating the results of using substantive analytical procedures,
    • Seeing where the PCOAB has called out audit deficiencies under the auditing standard.
  • Key Issues on the Agenda

    Introductions and Administrative Items

    • Introductions
    • What is the PCAOB Auditing Standards context?
    • What are the Five Major Audit Standard Sections?
    • AS 2305 is the seventh most sighted PCAOB AS in the Big Eleven Inspection Reports

    Section 1 - Auditing Standard 2305 - Definitions and Concepts

    • Substantive Testing Procedures
    • Assertions in the Financial Audit World
    • Reasonableness of Financial Statement Assertions
    • Flavors of Materility
    • Expectations
    • Analytical Methods and Techniques
    • Data Reliabiltiy and Validity
    • Understanding Deviation and Variance Analysis
    • Professional Judgment
    • Reasonableness Testing
    • Audit Documentation

    Section 2 - PCAOB Auditing Standard 2305

    • Introduction
    • Objective
    • Analytical Procedures Used as Substantive Tests
    • Nature of Assertion
    • Plausibility and Predictability of the Relationship
    • Availability and Reliability of Data
    • Precision of the Expectation
    • Investigation and Evaluation of Significant Differences
    • Documentation of Substanttive Analytical Procedures

    Section 3 - Going Forward and Summary

    • PCAOB Inspections Observations
    • Which Auditing Standard Paragraphs to Focus Upon
  • NASBA Program Disclosure

    Program Level of Understanding: Basic

    Prerequisites: None

    Advance Preparation: None

    Delivery Format: Group Internet Based

    NASBA Field(s) of Study: Auditing

    CPE Credits: 2, based on 50 minutes of instruction per hour

  • Summary of the Subject Matter

    Attend our comprehensive two-hour CPE event on PCAOB Auditing Standard 2305: Substantive Analytical Procedures. Led by an expert instructor, this event is designed for auditors, accountants, and financial professionals seeking to enhance their understanding and implementation of this important standard. Gain insights into planning and executing substantive analytical procedures, evaluating results, and recent updates. Engage in interactive discussions, practical examples, and Q&A during the event to deepen your knowledge. Don't miss this opportunity to strengthen your auditing skills and stay up-to-date with PCAOB requirements.
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