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PCAOB AS 2315: Audit Sampling Overview

PCAOB AS 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 Auditing 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 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 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.


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 Tuesdays at 1:00 p.m. to 3:00 p.m. Central Time.

    We can schedule private events on your timetable for two or more attendees.
  • 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 AS effect audit planning?
    • How should this AS 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
  • 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

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