Blockchain is an emerging technology that still in its infancy but its use and applications are growing exponentially. However, many questions exist about how the profession will manage the changes that blockchain will bring. To answer some of these questions, the AICPA has formed the Digital Asset Working Group with the objective of developing guidance for preparers and auditors that will help navigate the challenges associated with accounting for and auditing digital assets. This panel will address some of the considerations that the working group has focused on as it develops guidance. Beyond digital assets, the panel will also explore how blockchain technology is currently being explored or deployed by some companies; and discuss the potential impact on financial reporting for companies and auditors.
Identify accounting and auditing considerations for digital assets
Recognize the potential risks with implementing and/or operating on a blockchain
Identify key areas of risk for auditing blockchain systems