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PCAOB AS 2315: Audit Sampling for Internal Controls Testing

PCAOB AS 2315: Audit Sampling for Internal Controls Testing

Expand your professional expertise in audit sampling with our targeted training on PCAOB Auditing Standard 2315. This specialized 2 CPE credit course dives deep into the techniques and requirements for conducting internal controls testing in audits. Designed for auditors, CPA firm staff, and financial professionals, this course provides the skills you need to enhance compliance and ensure regulatory excellence.
 
Why Attend?
1. Deepen Your Knowledge of PCAOB AS 2315 Standards - Understand the principles and techniques for using audit sampling in internal controls testing and how to apply them effectively in practice.
2. Tackle Common Audit Deficiencies - Learn to identify and address audit deficiencies frequently highlighted in PCAOB inspection reports to improve your practice and compliance readiness.
3. Enhance Audit Sampling Effectiveness - Master the methodologies needed to conduct rigorous and reliable sampling during internal control tests while maintaining alignment with PCAOB regulations.
4. Earn 2 NASBA-Approved CPE Credits - Increase your professional credentials while sharpening auditing skills essential for today’s complex financial environment.
 
What You'll Learn
Over the span of two virtual hours, this training delivers essential knowledge and real-world strategies for auditing professionals.
 
Course Highlights:
1. Audit Sampling Techniques for Internal Controls
  • Explore the role of sampling in assessing effectiveness and reliability within audits.
  • Delve into practical approaches to dual-purpose samples and manual control testing.
2. Avoiding Audit Deficiencies
  • Review top deficiencies identified in PCAOB inspection reports, including examples from high-profile cases.
  • Develop best practices to mitigate risks and prepare for PCAOB scrutiny.
3. Internal Controls and Compliance
  • Examine the relationship between audit sampling and SOX Section 404 requirements.
  • Understand how to align your assessments with COSO 2.0 components and principles.
4. Enhancing Sampling Precision
  • Learn how to determine appropriate sample sizes and evaluate control effectiveness.
  • Gain insight into balancing scope across business cycles and key processes.
 
Key Topics Covered:
  • Fundamentals of Internal Controls Testing
  • Dual-purpose samples and their application in audits.
  • Key findings from PCAOB inspection reports and how to address them.
  • COSO integration into ICFR testing frameworks.
  • Planning and executing control tests aligned with PCAOB AS 2315 standards.
 
Benefits of Attending
  • Comprehensive Knowledge: Gain a thorough understanding of PCAOB AS 2315 and internal controls testing.
  • Actionable Insights: Learn practical tools and strategies to enhance audit quality and sampling reliability.
  • Regulatory Preparedness: Be fully equipped to address PCAOB requirements and avoid common deficiencies.
  • Earn CPE Credits: Receive 2 CPE credits and a certificate to enhance your professional standing.
 
Event Details
  • Schedule: Virtual seminar offered every eight weeks on Thursdays, 10 a.m.–12 p.m. CST.
  • Format: Group Internet-Based, interactive session.
  • Prerequisites: Participation in PCAOB AS 2315 Overview and Substantive Testing courses.
  • Delivery Method: Real-world examples, critical issue assessments, and best practice frameworks.
  • Cost: $140.
  • Private Sessions Available: Customizable event scheduling for groups of 2 or more.
 
Who Should Attend?
This course is designed for professionals seeking to enhance their internal controls auditing skills, including:
  • Auditors: Improve internal control assessments to meet PCAOB standards.
  • CPA Firm Staff: Master audit sampling techniques to deliver reliable results.
  • Financial Professionals: Enhance compliance capabilities in audits requiring rigorous control testing.
 
Why Audit Sampling Matters
Audit sampling is a critical component in the assessment of internal controls, ensuring validity and precision in financial reporting. Understanding and adhering to PCAOB AS 2315 standards enables:
  • Enhanced Control Assessments: Make informed decisions supported by reliable data.
  • Regulatory Compliance: Meet PCAOB expectations while maintaining audit independence and quality.
  • Strengthened Audit Processes: Improve efficiency and mitigate risks in ICFR evaluations.
 
Register Now
Seize this opportunity to build expertise in audit sampling and internal controls testing. Gain the knowledge and confidence needed to excel in PCAOB-regulated audits, ensuring your practices meet the highest industry standards.
 
Register today and take a pivotal step in advancing your career and professional development!

  • Details on Event Presentation

    Offered every eight weeks on Thursdays at 10:00 a.m. to 12:00 noon 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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