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Auditing Crypto Assets & Liabilities

  • Accountant
  • CRMA
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • Course Description
  • Course Qualification
  • Presenter
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Course Description

Course Description

Companies, not-for-profits, and governments are increasingly accepting payments in cryptocurrencies and other crypto assets. Are you an auditor planning on performing an audit on crypto assets and liabilities?

Whether you are a new auditor or just need a refresher on this topic this  CPE Audit course is for you. We will review the steps for planning the audit, testing internal controls over crypto assets & liabilities, conducting analytical procedures, and performing substantive testing.

It is becoming common for financial statements to show material cryptocurrency balances and to reflect the results of cryptocurrency transactions. However, many auditors may have little or no experience with cryptocurrencies and therefore may not fully appreciate the challenges that auditing these items may present. The novelty, ambiguity, and lack of official guidance surrounding cryptocurrency transactions impose additional audit risks that should be considered during client acceptance and retention and planning audit procedures.

Major topics discussed in this CPE webinar:

  • What is Crypto Currency
  • Convertible Virtual Currencies
  • Blockchain
  • Audit Requirements
  • Revenue Recognition 5 Core Principles
  • Generally Accepted Auditing Standards
  • Financial Statement Assertions
  • Audit planning - AS 2101
  • Internal controls
  • Substantive testing
  • Auditing cryptocurrencies¬†
  • Sampling and methods

From an audit procedure standpoint, this CPE course will also focus on the techniques and documentation needs that an auditor needs to know. In addition, it will offer practical advice to auditors on conducting an audit of crypto assets & liabilities.

NOTE: This CPE course has been updated to include the FASB guidance on accounting for crypto assets released on October 12, 2022

Learning Objectives

  • To define cryptocurrency.
  • To identify the steps in an audit of crypto assets & liabilities.
  • To identify audit procedures for auditing crypto assets & liabilities.
  • To describe the applications of cryptocurrency and blockchain technologies.
  • To explain the audit consideration factors for client acceptance and continuance.
  • To identify and address specific audit risks unique to cryptocurrency transactions and balances.

Recommended For

  • This online course is appropriate for CPAs, CMAs, CIAs, CGMAs, CFEs, MAFFs, internal auditors, external auditors, managers, CFOs, and others responsible for auditing crypto assets & liabilities.
  • This co