How to Account and Audit for Digital Assets

As digital assets such as cryptocurrency, tokens, and blockchain‑based instruments become increasingly common in private‑company operations, auditors and accountants face rapidly evolving challenges in recognition, measurement, and assurance. This course provides a clear, practical framework for accounting for and auditing digital assets in accordance with U.S. GAAP and current AICPA guidance.

Participants will explore the most frequently asked questions surrounding fair presentation, disclosure, valuation, safeguarding risks, and audit evidence. The program also incorporates insights from the AICPA’s Digital Assets Working Group to help practitioners navigate emerging risks, evolving regulatory expectations, and the complexities of providing assurance over decentralized, cryptographic environments.

Who Should Attend
This course is designed for accounting and audit professionals working with clients who hold or transact in digital assets.

Topics Covered

• Initial recognition, measurement, and derecognition of digital assets
• Presentation and disclosure considerations under U.S. GAAP
• Risk assessment and internal control considerations for digital‑asset environments
• Digital‑asset custody, safeguarding, and existence challenges
• Audit procedures responsive to valuation, rights, obligations, and completeness risks
• Common pitfalls and frequently asked questions in digital‑asset auditing
• AICPA Digital Assets Working Group insights and evolving industry practices

Learning Objectives

• Apply appropriate accounting guidance for initial recognition, measurement, derecognition, presentation, and disclosure of cryptocurrency and other digital assets
• Identify and assess common risks associated with digital assets, including valuation, custody, rights and obligations, and susceptibility to fraud
• Evaluate audit procedures responsive to digital‑asset risks, including methods for obtaining sufficient appropriate audit evidence
• Explain the perspectives and recommendations of the AICPA’s Digital Assets Working Group
• Address frequently asked questions related to reporting, disclosure transparency, and fair presentation of digital‑asset transactions
• Develop strategies to enhance audit planning, risk assessment, and documentation for entities transacting in digital assets

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
Some experience performing audit engagements

Advance Preparation
None