Crypto-assets – Digital assets and their audit challenges

Bitcoin, distributed ledger technology (Blockchain or DLT), cryptocurrencies, tokens, wallets, public & private keys. The relative importance of these new terms stands in contrast to the vocabulary used previously in the financial world. A bridge thus needs to be built between these recent developments and long-standing definitions. The industry is increasingly concerned with key issues such as

  • “How do I check whether the tokens actually exist?”
  • “How do I find out who has the factual power of disposition over the digital assets?”
  • “How do I check whether the valuation of the tokens was carried out correctly?”

The article on the right points out some solutions to the above-mentioned questions from the perspective of auditing.