Issues, risks, and challenges for auditing crypto asset transactions

【Author】 Hsieh, Sheng-Feng; Brennan, Gerard

【Source】INTERNATIONAL JOURNAL OF ACCOUNTING INFORMATION SYSTEMS

【影响因子】5.111

【Abstract】Many entities are progressively engaged in crypto asset transactions. The distinct nature of crypto assets from typical financial instruments makes it more challenging for external auditors to provide reasonable assurance on financial statements encompassing material crypto asset activ-ities and transactions. To provide more specific guidance in crypto asset-related audits, this paper aims to (1) identify various participants in the crypto asset ecosystem and illustrate their rela-tionship with the audited entity, (2) identify and elaborate the new challenges and risks for financial statement audits related to the crypto asset ecosystem, and (3) summarize issues to be considered in crypto asset-related audits in an audit framework. The dynamically evolving crypto asset ecosystem not only brings challenges and risks but also new assurance opportunities to the auditing profession after identifying and addressing those critical issues.

【Keywords】Crypto asset; Audit framework; Auditing; Blockchain

【发表时间】2022 SEP

【收录时间】2022-11-10

【文献类型】理论模型

【主题类别】

区块链治理-法律治理-数字货币监管