Auditing Digital Assets: Considerations for Valuation
- Valuation remains one of the more complex areas when auditing entities that operate in the digital asset space. To support auditors in addressing these challenges, the AICPA provides targeted guidance to help navigate digital assets valuation. Based on the AICPA Practice Aid Accounting for and Auditing of Digital Assets, this webcast can help you identify relevant controls to test and potential procedures to perform specific to valuation. You'll discover:
- What procedures an auditor might consider when an entity measures its digital assets using prices on active markets, as well as when they measure digital assets that are thinly traded
- Key considerations for evaluating an entity’s impairment analysis for indefinite-lived out-of-scope crypto intangible assets
- Audit considerations that might be relevant for an entity that recognizes realized gains and losses on sales of its digital assets
Learning Objectives
- Recall internal control considerations.
- Recall audit procedures when digital assets are measured using prices in active markets.
- Recall audit procedures when digital assets are thinly traded.
- Identify audit considerations when evaluating the entity’s impairment analysis for indefinite-lived out-of-scope crypto intangible assets.
- Identify audit considerations for an entity that recognizes realized gains and losses on sales of digital assets.
Major Topics
- Measuring digital assets using prices in active markets
- Measuring digital assets that are thinly traded
- Evaluating an entity’s impairment analysis for indefinite-lived out-of-scope crypto intangible assets
- Recognition of realized gains and losses on sales of digital assets
