Auditing Digital Assets: Considerations for Valuation

Overview

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

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.

Highlights

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

Designed For

Accounting and finance professionals

CPAs

Auditors

Prerequisites

An understanding of digital assets.

Notice

You will receive an email from the AICPA with instructions to access the webinar.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Katie Rozsa, AICPA

Leader Bios

Katie Rozsa, AICPA

Katie Rozsa CPA Katie has provided professional audit services over the past 17 years in accordance with PCAOB and AICPA requirements. Her audit experience includes conducting audits primarily for the financial services industry under U.S. GAAP and SEC reporting requirements, including Sarbanes-Oxley for internal controls over financial reporting. Katie currently serves in KPMG’s national office with a focus on developing audit guidance and collaborating with teams on accounting and auditing matters in the areas of digital assets, banking, broker-dealers and estimates. Katie serves as an active member for both the Center for Audit Quality (CAQ)’s Digital Assets Task Force and Broker Dealer Task Force and participates in the AICPA Digital Assets Auditing Working Group. Katie is a long-standing member of the Junior League of Buffalo as well as a Board Member and Audit Committee Chair for Compass House, an Emergency Shelter and Resource Center for youth at risk of homelessness.

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