Auditing Digital Assets, Part II - Greater Washington Society of CPAs

Overview

Auditing entities that hold or transact digital assets and use service organizations

Although 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.

Based on the AICPA Practice Aid Accounting for and Auditing of Digital Assets, this webcast can help you determine what to do when your client uses a service organization to help transact in, safeguard, or account for its digital assets.

You’ll discover:

How to identify whether a service organization is present, including how to determine the nature of the services provided

Key considerations when a service organization provides services related to digital assets, including the role of a SOC report in understanding the control environment

The risks, challenges and factors to consider when performing audit procedures when service organizations are being utilized

Highlights

Understanding the entity and its environment and the service organizations role related to digital assets

SOC 1r and SOC 2r reports as sufficient appropriate evidence

Risks and challenges associated with performing audit procedures involving service organizations.

Prerequisites

None

Designed For

Accounting and finance professionals

CPAs

Auditors

Objectives

Identify whether a service organization is present, including the nature of the services provided.
Identify key considerations when a service organization provides services related to digital assets.
Recall key risks and considerations involved when evaluating whether the SOC report provides sufficient appropriate evidence.