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ARTICLE · 07 NOVEMBER 2023

Navigating Uncharted Waters: Challenges And Considerations In Auditing The Ownership Of Crypto Assets

Ankura Consulting Group LLC
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The rapid rise of crypto assets has presented both opportunities and challenges for auditors, with regulators, practitioners, and businesses grappling to establish clear guidelines and procedures.

United StatesTechnology
Paul Naberezny
Paul Naberezny
Andrew Sotak
Andrew Sotak

The rapid rise of crypto assets has presented both opportunities and challenges for auditors, with regulators, practitioners, and businesses grappling to establish clear guidelines and procedures.1 Even though there is no shortage of news regarding companies involved in crypto assets, in this article, we highlight regulatory scrutiny as it relates to the auditing of crypto assets, and take a deeper dive into a current hot topic, which is especially challenging for auditors given the unusual nature and complexities of the transactions: the auditing of ownership of crypto assets.

Challenges Facing Auditors

Regulatory Scrutiny

The Public Company Oversight Board (PCAOB) has in recent years been examining the audit files of public companies that transact or hold crypto assets. In its June 2023 publication "Inspection Observations Related to Public Company Audits Involving Crypto Assets" (https://pcaobus.org/documents/crypto-assets-spotlight.pdf), the regulator has

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