ENG2441. Digital Assets: Where We Are, Where We're Going, and What You Need to Know (TCH, NAA)

The digital asset space is an evolving area, presenting practitioners with unique risks and complex challenges. This session will include information on types of digital assets, as well as the underlying blockchain technology, and highlight the latest accounting, auditing, and attestation hot topics, including an explanation of the newly issued FASB ASU, “Accounting for and Disclosure of Crypto Assets.” Information will be provided on resources available to financial statement preparers, auditors, and practitioners who are interested in learning more about how to account for and audit digital assets, as well as those practitioners who perform attestation engagements. We will dive into the efforts by the FASB, SEC, and AICPA to provide further accounting, auditing, and attestation guidance, and provide insights on possible future developments in the digital asset marketplace.

Learning Objectives:

• Recall types of digital assets and the underlying blockchain technology
• Identify hot topics for digital assets related to accounting, auditing, and attestation
• Recall efforts of the SEC, FASB, AICPA, and others to develop digital asset guidance
• Recognize possible future developments in digital assets