ACPEN: Accounting & Auditing for Cryptocurrency

Overview

Cryptocurrency continues to evolve rapidly, bringing new accounting and auditing considerations for CPAs and auditors. This course provides a practical overview of the accounting and auditing issues associated with cryptocurrency, with an emphasis on recent standard-setting developments and their implications for practice.

The accounting portion of the course focuses on ASU 2023-08 and related developments, including recent FASB Board discussions, the FASB's Invitation to Comment, and the addition of cryptocurrency-related topics to the FASB's research agenda. Participants will work through a practical case study to apply the guidance in ASU 2023-08, building confidence in accounting for cryptocurrency transactions and balances.

The auditing portion of the course addresses key audit considerations related to cryptocurrency, including implications for engagement acceptance and continuance, risk assessment, and the design and performance of audit procedures. The course also references the AICPA's Accounting for and Auditing of Digital Assets practice aid to help bridge authoritative guidance and real-world application.

Highlights

• Accounting and auditing issues related to cryptocurrency
• ASU 2023-08 and related FASB developments
• FASB discussions, Invitation to Comment, and research agenda updates
• Case study application of cryptocurrency accounting guidance
• Accounting for cryptocurrency transactions and balances
• Audit considerations for cryptocurrency engagements
   

Prerequisites

None

Designed For

All accounting/auditing professionals

Objectives

• Identify the impact of recent FASB standard-setting activities on the accounting for digital assets, including cryptocurrency
• Recognize the key accounting requirements introduced by ASU 2023-08 as they apply to common cryptocurrency transactions and balances
• Identify key audit considerations related to cryptocurrency, including risks affecting engagement acceptance, risk assessment, and audit procedures

Preparation

 None