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
Learning 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.
Major Topics
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.
