AICPA Adds New Chapter to Practice Aid on Digital Assets

The AICPA has added AU Chapter 4, “Considerations of an Entity’s Use of a Service Organization,” to its practice aid Accounting for and Auditing of Digital Assets. The new chapter is intended to help auditors navigate the challenges they may face when their client uses a third party to account for digital assets. In addition, the new chapter “highlights illustrative examples of risks and considerations that may affect whether the [system and organization control] report provides sufficient appropriate audit evidence for use by the user auditor or whether a limitation on the scope of the audit may exist.”

For more information, see the AICPA’s Web site.