Auditing Digital Assets: Considerations for Existence and Rights and Obligations

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Overview

Obtaining sufficient appropriate audit evidence regarding the existence and rights to digital assets remains one of the more complex challenges when auditing entities in this evolving space.

Based on the AICPA Practice Aid: Accounting for and Auditing of Digital Assets the webcast provides practical insights to help you identify relevant controls to test and potential procedures to perform specific to this topic.

You’ll discover:

Procedures auditors might consider when evaluating the reliability of information obtained from a public blockchain

Methods practitioners can use to access blockchain-recorded information, along with the risks associated with each approach

Potential audit procedures for digital assets held in self-custody or by a third party

Audit considerations related to third-party confirmations, including what to confirm and how to evaluate the reliability of responses

Highlights

Evaluating the reliability of information obtained from a public blockchain

Accessing information recorded on a blockchain

Audit procedures to address the existence and rights and obligations of digital assets held in self-custody

Audit procedures to address the existence and rights and obligations of digital assets held by a third party

Digital asset third-party confirmation considerations

Prerequisites

None

Designed For

Accounting and finance professionals

CPAs

Auditors

Objectives

Recognize factors to consider when evaluating the reliability of information obtained from the blockchain.
Recall how to access information recorded on the blockchain.
Identify audit procedures when digital assets are held in self-custody.
Identify audit procedures when digital assets are held by a third-party custodian.
Recall digital asset third-party confirmation considerations.

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.