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PCAOB AS 2315: Audit Sampling for Internal Controls Testing

PCAOB AS 2315: Audit Sampling for Internal Controls Testing

This is the CPE event that builds on the knowledge provided by our PCAOB Auditing Standard 2315: Audit Sampling Overview event and the PCAOB Auditing Standard 2315: Substantive Testing event.
 
This event is a detail review of PCAOB Audit Standard 2315 requirements pertaining to the testing of internal controls:
- Audit Deficiencies Concerning Sampling in 2019's "Big 12" Inspection Reports,
- Details concerning sampling within the testing of internal controls,
- Review of the PCAOB Audit Standard 2315 section on the testing of internal controls.
 
This event goes into the details and specific examples of how to properly adhere to the auditing standard when providing testing of internal controls within the audit of financial statements.
 
The following virtual 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
 
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 for the testing of internal controls. 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 1:00 p.m. to 3:00 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: PCAOB AS 2315: Overview and PCAOB AS 2315: Substantive Testing

    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

    Based on the relevant professional literature and PCAOB Auditing Standard 2315:

    • What is internal control testing?

    • Properly addressing "Audit Sampling" in the testing of internal controls.

    • What audit deficiencies have PCAOB Inspection Reports covered concerning PCAOB AS 2315?

    • Risk of Incorrect Acceptance within testing of internal controls.

  • Learning Objectives

    Attendees will:

    • Understand the basics of PCAOB's Audit Standard 2315.

    • Understand the PCAOB viewpoint on using sampling in internal control testing.

    • Understand the details pf PCAOB's Audit Standard 2315 concerning the testing of internal controls.

  • Key Issues on the Agenda

    Section 1 - Introduction

    • Sampling in Tests of Controls

    • Dual-Propose Samples

    • Factors to Consider with Testing Controls

    • The Trade-off for Financial Audits

    • Advantages and Disadvantages of Sampling


    Section 2 - Issues within 2019 Inspection Reports

    • Observations by PCAOB Auditing Standard 2315

    • The Top Eight Issues

    • Example from the "Big Twelve" Inspection Reports


    Section 3 - Sampling for Tests of Controls and Dual-Purpose Samples

    • PCAOB AS 2300 Audit Procedures in Response to Risks

    • PCAOB AS 2315 - Table of Contents

    • Why is the financial auditor testing internal controls?

    • Test of Internal Controls is Different

    • Sampling in Tests of Controls

    • Details on Sampling in Tests of Controls

    • Details on Dual-Purpose Samples


    Section 4 - Best Practices for Tests of Internal Controls

    • SOX Section 404 - Assessment of ICFR

    • SEC Defined "Entity Controls"

    • "Best Practice" Frameworks

    • Summary of COSO 2.0 "Components" and "Principles"

    • PCAOB AS 2201 - Planning the Audit

    • Business Cycles, Processes and Narratives

    • How Do We Test Manual Controls?

    • What is the Sample Size for Testing Controls?

    • How "Effective" is the Control?


    Section 5 - Going Forward and Summary

    • Sampling in Tests of Controls under AS 2315

  • Summary of the Subject Matter

    This CPE event focusing on PCAOB Auditing Standard 2315, presented by CCS, provides a comprehensive exploration of the intricacies associated with audit sampling for internal controls testing. This training session is tailored to equip auditors, accounting professionals, and individuals engaged in financial reporting with valuable insights into the application of PCAOB Auditing Standards, particularly emphasizing the essential role of audit sampling when testing internal controls.

    Throughout this event, attendees can expect to gain a deep understanding of the principles and requirements outlined in Auditing Standard 2315, with a specific focus on the nuanced strategies and methodologies involved in conducting effective audit sampling for internal controls testing. Industry experts will guide participants through practical examples and real-world scenarios, offering practical guidance on leveraging audit sampling techniques to assess the effectiveness and reliability of internal controls within the audit context.

    By participating in this event, individuals will enhance their proficiency in applying audit sampling methods, thereby bolstering their ability to conduct rigorous internal controls testing in alignment with regulatory standards and best practices. This session aims to empower participants with the knowledge and skills necessary to uphold precision, integrity, and compliance in the realm of internal controls auditing.

  • Authoritative Sources

    After attending the CPE event on PCAOB AS 2315: Audit Sampling for Internal Controls Testing, 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

$140.00Price
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