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PCAOB Auditing Standard 2315: Audit Sampling Overview

Being offered twice a quarter on Thursdays at 1:00 p.m. to 3:00 p.m. Central Time.

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 retail cost of the online 2 CPE internal auditor training event is $120 per attendee.


Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
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 Standards:

  • 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 Items 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 - Uncertainty 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