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PCAOB AS 2315: Audit Sampling Overview

PCAOB AS 2315: Audit Sampling Overview

Do you understand PCAOB AS 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 AS 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. Learn from our instructors who all have Big 4 audit experience in sampling during an audit.


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 AS 2315 requirements:
- Purpose and background of PCAOB 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 adhere to the auditing standard.


The following virtual training events have been developed by CCS to cover all 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


The above timely two hour CPE training events are designed for the CPA firm staff members who will be working on PCAOB regulated audits.


Attendees in this PCAOB auditing standard CPE event will earn 2 CPE Event Hours (YB). A certificate of completion will be provided.


Don't miss this opportunity to enhance your understanding of audit sampling. Register now to gain valuable insights and techniques that will elevate your effectiveness in conducting PCAOB regulated audits.

  • Details on Event Presentation

    Offered every six weeks on Tuesdays at 10:00 a.m. to 12:00 p.m. Central Time in two CPE-Credit event.

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

    NASBA Program Disclosure

    Program Level of Understanding: Basic
    Prerequisites: None
    Advance Preparation: Read PCAOB AS 2315: Audit Sampling
    Delivery Format: Group Internet Based
    NASBA Field(s) of Study: Auditing
    CPE Credits: 2, based on 50 minutes of instruction per hour

  • CPE Event Highlights

    • What are the PCAOB Audit Standards (AS)?
    • What are the advantages and disadvantages of sampling?
    • What are the contents in PCAOB AS 2315?
    • How does the standard differ from the International Standard on Audit Sampling?
    • How should this PCAOB AS 2315 effect audit planning?
    • How should this PCAOB AS 2315 effect audit procedures?
  • Learning Objectives

    • Attendees will understand the basics of PCAOB's Audit Standard 2315.
    • Identify the basic terms and foundational concepts of audit sampling in the PCAOB audit.
    • Describe various sampling methods.
  • Key Issues on the Agenda

    Section 1 - Introduction

    • What is the "PCAOB"?
    • Learning Objectives
    • Professional Tradecraft
    • Tactics Behind Financial Audits
    • Trade-off Between Testing of Controls and Substantive Testing
    • Advantages and Disadvantages of Sampling

    Section 2 - Overview of the PCAOB Standards

    • Five Major Standard Areas
    • General Auditing Standards
    • Audit Procedures Standards
    • Auditor Reporting Section
    • 2300 Audit Procedures in Response to Risks
    • 2315 Audit Sampling                

    Section 3 - Introduction to Auditing Standard 2315.01-06

    • Summary of the Table of Contents
    • Topics by Paragraph
    • Details on the Introduction to AS 2315
    • Why use sampling?

    Section 4 - Uncertaingy and Audit Sampling 2315.07-14

    • Details on Uncertainty and Audit Sampling
    • Sampling Risk
    • Non-Sampling Risks


    Section 5 - Sampling For Substantive Tests of Details 2314.16-30

    • Overview
    • What is a Substantive Procedure or Testing?
    • Summary of Sampling in Substantive Tests of Details

    Section 6 - Sampling in Tests of Controls 2315.31-43

    • Overview 
    • Examples of "Internal Controls"
    • SOX Section 404
    • What are Test of Controls?
    • How are Internal Controls tested?
    • Summary of Sampling in Tests of Controls

    Section 7 - Going Forward and Summary

    • What is Audit Sampling?
    • PCAOB Inspection Reports of the "Big 12"
    • Audits with Deficiencies
  • Summary of the Subject Matter

    The CPE event centered on PCAOB Auditing Standard 2315 offers a comprehensive exploration of audit sampling, providing professionals with invaluable insights into the intricacies of this critical aspect of auditing. This engaging session equips attendees with the knowledge and practical skills necessary to conduct rigorous and effective audit sampling processes.

    Throughout this event, participants can expect to delve into the fundamental principles outlined in Auditing Standard 2315, gaining a profound understanding of the methodologies, considerations, and best practices associated with audit sampling.

    By attending this event, individuals will have the opportunity to enhance their proficiency in planning, performing, and evaluating audit samples, ensuring that they are well-equipped to navigate the complexities of audit testing in alignment with PCAOB Audit Standard 2315 and audit industry best practices. Moreover, the session is tailored to foster a deep comprehension of the application of audit sampling techniques to assess less than 100 percent of items within an account balance or class of transactions, thereby bolstering the attendees' expertise in this critical area of auditing.

    This event serves as a pivotal resource for professionals seeking to fortify their knowledge of audit sampling and internal controls testing, fostering a deeper understanding of the nuanced strategies essential for upholding accuracy and integrity in the audit process.

  • Authoritative Sources

    After attending the CPE event on PCAOB AS 2315: Audit Sampling Overview, expanding your knowledge with authoritative sources is essential. Here are some reliable sources along with their web links:

    • Public Company Accounting Oversight Board (PCAOB) Official Website
      • The PCAOB's official website offers comprehensive insights into audit sampling, providing detailed guidance and resources related to the application of audit procedures to assess less than 100 percent of items within an account balance or class of transactions.
    • PwC Viewpoint
      • PwC's Viewpoint platform provides in-depth information on PCAOB AS 2315, offering an overview and guidance for planning, performing, and evaluating audit samples, which can further enhance your understanding of internal controls testing.

    By referring to these authoritative sources, you can deepen your understanding of audit sampling

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