Digital Assets: How To Account and Audit Them
Author: Salvatore Collemi
| CPE Credit: |
2 hours for CPAs |
How to properly account for and audit digital assets has been increasing over the last decade as more and more private companies have been incorporating cryptocurrency, tokens and other digital assets in their operations and recorded them on their financial statements. This course will address the most frequently asked questions, specific risks, and challenges emerging in this arena.
Publication Date: October 2025
Designed For
CPA firms and sole practitioners who perform audits for small to mid-size private entities who regularly transact using digital assets.
Topics Covered
- Overview
- Definitions
- Advantages and Disadvantages
- How Crypto is Used
- Regulatory Considerations
- Balance Sheet Classification
- US GAAP Accounting Treatment Challenges
- Auditing Digital Assets Challenges
- Resources and Tools
Learning Objectives
- State how to answer frequently asked questions related to the fair presentation and disclosure of cryptocurrency and other digital assets
- Recognize common risks associated with these instruments and how to properly audit them
- Identify where data on the blockchain is stored
- Identify a disadvantage of using crypto
- Identify the type of key that is similar to account numbers that can be shared with others
- Identify the ASU issued by the FASB that addressed the accounting and disclosure requirements for certain crypto assets
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Auditing (1 hour), Accounting (1 hour)
Program Prerequisites
Some experience in performing audit engagements.
Advance Preparation
None
