Auditing Digital Assets, Part I

Auditing entities that hold or transact digital assets

Would you like to better understand the environment of digital asset transactions? Have you ever wondered if you should accept or continue a client engagement?

This webcast will help you identify challenges, risks, and factors to consider when deciding to accept or continue with a client who holds or transacts with digital assets.

During the webcast and discussion, you will learn:

• The Digital Assets Working Group's mission and the process through which nonauthoritative guidance is developed

• What private keys are and ways to safeguard them and the digital assets to which they enable access

• About the rapidly evolving nature of the digital asset ecosystem that may lead to challenges when performing required procedures surrounding laws and regulations

You will gain:

• Insight into the unique aspects of the risk assessment process when involved in the digital assets space

• Awareness of the pseudo-anonymous nature of digital asset transactions that may lead to challenges in performing required procedures surrounding related-party relationships and transactions with related parties

You will also gain access to valuable resources:

• Accounting for and Auditing of Digital Assets Practice Aid
• Blockchain Universal Glossary
• Webcast: Accounting for Digital Assets under U.S. GAAP
• Digital Asset Resources

This webcast has not been updated for the following Statements on Auditing Standards that were issued by the Auditing Standards Board and are effective for audits of financial statements for periods ending on or after December 15, 2023:

• SAS No. 143, Auditing Accounting Estimates and Related Disclosures
• SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatements

Key Topics

• Client acceptance and continuance
• Risk assessment and processes and controls
• Laws and regulations and related parties

Learning Outcomes

• Recognize the terminology associated with auditing entities within the digital asset ecosystem.
• Identify applicable auditing standards and unique audit challenges related to: client acceptance and continuance; risk assessment and processes and controls; and laws, regulations and related parties.
• Identify potential factors to consider and procedures to perform in response to the challenges identified.

Who Will Benefit

• Accounting and finance professionals
• CPAs
• Auditors