NOTE: This course has been updated for 2023 to include the FASB guidance on accounting for crypto assets released on October 12, 2022, and for crypto financial statement disclosures.
Companies, not-for-profits, and governments are increasingly accepting payments in crypto currencies 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 course is for you. We will review steps for planning the audit, testing internal controls over crypto assets & liabilities, conducting analytical procedures and performing substantive testing.
From an audit procedure standpoint this course will also focus on the techniques and documentation needs that an auditor needs to know. In addition, the course will offer practical advice to auditors on conducting an audit of crypto assets & liabilities.
Publication Date: June 2023
Designed For
CPAs, CMAs, CIAs, CGMAs, CFEs, MAFFs, internal auditors, external auditors, managers, CFOs and others responsible for auditing crypto assets & liabilities.
Topics Covered
- Blockchains
- Crypto Currency
- Crypto Terminology
- Audit Requirements
- Generally Accepted Auditing Standards
- Financial Statement Assertions
- Audit Planning
- Guidance
- Proposed — Accounting For and Disclosure of Crypto Assets
- SEC Staff Accounting Bulletin No 121
- FTX Crypto Fraud - 2022
- Internal Controls
- Hypothesis Testing
- Auditing Crypto Currencies
- Risk Assessment
Learning Objectives
- Identify the steps in an audit of crypto assets & liabilities
- Identify audit procedures for auditing crypto assets & liabilities
- Identify what is considered a fiat stable coin
- Identify the organization that requires public companies to disclose crypto risks in the notes to the financial statements
- Identify the type of risk associated with safeguarding crypto assets
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.