Auditing Digital Assets: two-part webcast series

Though the use of digital assets is rapidly expanding, guidance on how to effectively account for and audit digital assets has not kept pace. This is where the AICPA can help. This two-part webcast series based on the AICPA Accounting for and Auditing of Digital Assets Practice Aid helps answer key questions when auditing entities that hold or transact digital assets.

Client acceptance and continuance; risk assessment processes and controls; laws, regulations and related parties In this webcast, you will learn how to identify the challenges, risks, and factors to consider when deciding to continue with a client who holds or transacts with digital assets. It covers safeguarding private keys, and the challenges posed by the digital asset ecosystem. You'll also gain insights into the risk assessment process and the pseudo-anonymous nature of digital asset transactions, which can complicate procedures related to laws, regulations, and related-party relationships.

Service organization controls (SOC) In this webcast, you’ll learn how to navigate situations where your client uses a service organization for transacting, safeguarding, or accounting for digital assets. You’ll discover how to identify the presence and nature of these service organizations, understand the key considerations when they provide services related to digital assets, and grasp the importance of SOC reports in evaluating the control environment. Additionally, you’ll become aware of the risks, challenges, and factors to consider when performing audit procedures involving service organizations.