Blockchain and Audit Assertions (Completed)

Blockchain ranked as the #1 most “in-demand hard skill” on LinkedIn for 2020. As businesses explore the enticing possibilities from blockchain ledger technology, there are important questions being raised about how assertion-based auditing may be impacted by the introduction of blockchain technology into financial reporting? The nature of distributed ledger technology suggests that the auditor’s view of both inherent risk and control risk and the related assertions might be affected when a client operates in a blockchain-enabled environment that supports a substantial part of its financial information system.

Who Should Attend
Professionals in public practice, business, government, and education who wish to be knowledgeable about blockchain-enabled environments and the impact on the audit.

Topics Covered

• Blockchain Characteristics
• Permissioned versus Non-permissioned Blockchain
• Wide array of blockchain applications
• Audit Assertions and the "blockchain"
• On-Chain and Off-Chain transactions

Learning Objectives

• Identify the fundamental characteristics of blockchain technology
• Recognize the differences between permissioned and permissionless blockchain
• Identify how to evaluate the current audit assertions and how they may apply to distributed ledger technology
• Identify how to evaluate different risk factors that may be introduced vis-a-via a blockchain-enabled environment

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic understanding of accounting and audit standards.

Advance Preparation
None