PCAOB AS 2315: Audit Sampling for Substantive Testing
Elevate your auditing capabilities with the PCAOB Auditing Standard 2315 Seminar, a focused training designed to deepen your understanding of audit sampling for substantive testing. Tailored for CPA firm staff, auditors, and compliance professionals, this event offers practical insights and actionable techniques to help you manage and execute PCAOB-compliant audits more effectively. Earn 2 NASBA-Approved CPE credits while mastering the methodologies that underpin accurate, reliable financial audits.
Why Attend?
1. Master Audit Sampling Techniques - Gain comprehensive knowledge of PCAOB AS 2315 and learn how to apply audit sampling effectively to assess account balances and transactions.
2. Improve Audit Quality - Enhance your ability to conduct substantive testing procedures by understanding sampling methodologies and avoiding common pitfalls highlighted in PCAOB inspection reports.
3. Stay Compliant with PCAOB Standards - Learn the best practices necessary to align all phases of the audit sampling process with the stringent demands of PCAOB Auditing Standards.
4. Earn 2 CPE Credits - Build your professional credentials while refining the skills essential for delivering high-quality, compliant audits.
What You’ll Learn
This engaging course covers all major aspects of PCAOB AS 2315, equipping you with an in-depth understanding of audit sampling best practices.
Course Highlights:
1. Fundamentals of Audit Sampling
- Understand the principles of substantive testing and how sampling supports reliable audit procedures.
- Explore common audit deficiencies identified in PCAOB inspection reports and learn how to address them effectively.
2. Sampling for Substantive Tests of Details
- Review strategies for applying AS 2315 within substantive testing.
- Learn how to determine sample sizes and address risks such as incorrect acceptance within audit samples.
3. Practical Examples and Applications
- Gain real-world insights into sampling procedures, supported by illustrative examples from PCAOB inspection findings.
- Learn how to leverage sampling techniques for risk assessment and audit planning.
4. Documentation Requirements
- Explore the key elements necessary to document sampling procedures to meet PCAOB expectations confidently.
Key Issues Discussed:
- Overview of PCAOB Auditing Standard 2315
- Audit sampling benefits and challenges
- Common findings in Big Twelve Inspection Reports
- Risk mitigation in substantive testing
Benefits of Attending
- Enhanced Audit Quality: Build confidence in conducting audits that adhere to PCAOB Standards while ensuring accuracy in financial reporting.
- Improved Sampling Proficiency: Master the art of using sampling as part of your substantive testing strategy to validate financial data effectively.
- Professional Development: Earn 2 CPE credits and gain a strong professional edge in the field of auditing.
- Compliance Assurance: Stay up-to-date with PCAOB guidelines to ensure your audit processes meet modern regulatory requirements.
Event Details
- Schedule: Offered every eight weeks on Thursdays from 10 a.m. to 12 p.m. CST.
- Format: Online, live interactive sessions (Group Internet-Based).
- Duration: 2 hours.
- CPE Credits: 2 NASBA-Approved CPE Credits in Auditing.
- Cost: $140.
- Private Training Available: Custom sessions can be arranged for two or more attendees.
Who Should Attend?
This seminar is ideal for professionals committed to improving the quality and compliance of their audits, including:
- CPA Firm Staff Members: Enhance your expertise in performing and documenting sampling procedures to meet PCAOB audit standards.
- Auditors: Strengthen your substantive testing techniques and stay ahead of regulatory inspections.
- Compliance Professionals: Deepen your understanding of auditing standards critical to maintaining accurate and reliable financial statements.
Why Compliance with PCAOB AS 2315 Matters
Auditing Standard 2315 plays a critical role in ensuring the quality of financial audits by emphasizing effective sampling techniques. Compliance with this standard enables organizations to:
- Reduce Audit Risk: Identify potential misstatements with targeted, high-quality sampling.
- Maximize Audit Efficiency: Apply sampling techniques that align with risk assessment and documentation requirements.
- Boost Stakeholder Confidence: Deliver audit results that clients and regulatory bodies can trust.
Register Today
Take your auditing skills to the next level with the PCAOB AS 2315 Seminar. Gain actionable knowledge on audit sampling, improve the quality of your substantive testing procedures, and earn 2 CPE credits to advance your career.
Register now and ensure your audits meet the highest standards of accuracy, reliability, and compliance!
Details on Event Presentation
Offered every eight weeks on Thursdays 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: PCAOB AS 2315: Overview
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 hourCPE Event Highlights
Based on the relevant professional literature and PCAOB Auditing Standards:
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What is substantive testing?
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Properly addressing "Audit Sampling" in substantive testing.
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What audit deficiencies have PCAOB Inspection Reports covered?
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What is a Substantive Procedure of Testing?
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Risk of Incorrect Acceptance within Substantive Testing.
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Learning Objectives
Attendees will:
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Understand the basics of PCAOB's Audit Standard 2315.
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Understand the PCAOB viewpoint on using sampling in substantive testing.
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Understand the details pf PCAOB's Audit Standard 2315 concerning Substantive Testing.
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Key Issues on the Agenda
Section 1 - Introduction
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Summary of PCAOB AS 2315
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The Trade-off for Financial Audits
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Advantage and Disadvantages of Sampling
Section 2 - Issues within 2019 Inspection Reports-
Observations by PCAOB Auditing Standard
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The Top Eight Issues
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Examples from the "Big Twelve" Inspection Reports
Section 3 - Sampling for Substantive Test of Details-
AS 2300 Audit Procedures in Response to Risks
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AS 2315 - Table of Contents
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Sampling in Substantive Tests of Details
Section 4 - Appendix to Audit Sampling 2315-
Factors Influencing Sample Sizes
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Auditor's Subjective Assessment of Control Risk.
Section 5 - Going Forward and Summary-
Sampling in Substantive Tests of Details
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Summary of the Subject Matter
This CPE training event focused on PCAOB Auditing Standard 2315 presents a comprehensive exploration of audit sampling specifically tailored for substantive testing, offering professionals an in-depth understanding of this critical aspect of the auditing process. Through this engaging session, attendees gain valuable insights into the methodologies, considerations, and best practices associated with audit sampling for substantive testing, empowering them to conduct rigorous and effective procedures aligned with regulatory standards and industry best practices.
The event delves into the fundamental principles outlined in Auditing Standard 2315, emphasizing the significance of audit sampling in evaluating the accuracy and reliability of specific account balances and transactions. Attendees can expect to acquire practical skills for planning, performing, and evaluating audit samples within the context of substantive testing, ensuring that they are well-prepared to navigate the complexities of this essential phase of the audit process.
By attending this event, professionals have the opportunity to deepen their proficiency in applying audit sampling techniques to assess specific account balances and transactions, fostering a true understanding of the nuanced strategies essential for upholding accuracy and integrity in substantive testing. The session serves as a pivotal resource for individuals seeking to fortify their knowledge in this area, ultimately contributing to the delivery of high-quality audit services.
Authoritative Sources
After attending the CPE event on PCAOB AS 2315: Audit Sampling for Substantive 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
- Public Company Accounting Oversight Board (PCAOB) Official Website