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Audit and advisory services for blockchain and digital assets

Helping you address the challenges of financial reporting and complex risks of blockchain solutions

Blockchain solutions can increase transparency and security. But they can also entail a host of new financial reporting challenges. Our blockchain and digital asset advisory services can help your organization address blockchain-related risks and understand the benefits of this potentially promising technology.

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Lessons in Digital Asset Risk Management
This white paper provides an overview of different blockchain and digital asset use cases and their associated risks.
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FASB Proposes Guidance on Crypto Assets
On March 23, 2023, the FASB issued a proposed ASU on the accounting for and disclosure of certain crypto assets. Comments on the proposal are due by June 6, 2023.
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Crypto Assets — A Flurry of Activity as the Year Comes to a Close
This Heads Up summarizes the FASB’s and SEC’s most recent activity and discussions related to crypto assets.
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The Metaverse — Accounting Considerations Related to Nonfungible Tokens
The metaverse has recently drawn a lot of excitement and headlines, but what is it really? The concept has actually existed for decades — it is an immersive digital environment that allows users to interact with their surroundings and one another in a shared space.
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NFTs: What consumer companies need to know
This episode of Consumer Speaks explores NFT use cases, accounting and tax implications, and other important considerations for consumer companies evaluating and implementing their own digital asset strategies.
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Blockchain 2021: A new age of digital assets
Deloitte’s 2021 Global Blockchain Survey affirms that banks should embrace their inevitable digital future. In a seismic shift, financial leaders increasingly see digital assets as the future.
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Corporates investing in crypto
More and more operating companies have begun allocating cash to digital assets and crypto currencies. This is a new dynamic and a departure from more conventional investing by funds and others in this space. How would you do that? Explore these guidelines for the relevant questions, processes, and procedures supporting such a decision.
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Corporates using crypto
More and more operating companies have begun allocating cash to digital assets and crypto currencies. This is a new dynamic and a departure from more conventional investing by funds and others in this space. How would you do that? Explore these guidelines for the relevant questions, processes, and procedures supporting such a decision.
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Cryptocurrency custody
In its Interpretive Letter #1170 issued on July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued a legal interpretation affirming that federally chartered banks and thrifts (collectively “national banks”) may now provide cryptocustodial services for crypto assets.
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Blockchain and internal control: The COSO perspective
The potential benefits of blockchain are clear: improved efficiency, reliability, and compliance. But the risks are just as glaring. A full understanding of blockchain related-risks and how to address those risks is needed if a company is going to responsibly put it to use. Knowing the COSO perspective is a great place to start.
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The power of blockchain in the consumer industry
Blockchain use in consumer products, customer service, and more
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The impact of blockchain technology on audit
It’s clear that technology is changing the way organizations do business across all functions and industries. But there are particular pairings of tool and team that carry game-changing potential. Learn how our auditors work with Deloitte COINIA to help address blockchain.
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SEC Issues Staff Accounting Bulletin on Accounting for Obligations to Safeguard Crypto-Assets
This publication was updated on July 28, 2022, to reflect recent discussions the AICPA Digital Assets Working Group has had with the SEC staff as well as updated Q&As in the AICPA Practice Aid Accounting for and Auditing of Digital Assets (the “AICPA Practice Aid”).
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The built-in challenges of blockchain solutions

Blockchain has long since emerged from its roots as a promising new technology to become an increasingly mainstream solution with a range of practical business applications. Manufacturers can use blockchain solutions to help improve the transparency and quality of their supply chains. Other businesses might use it to increase the security of financial transactions. Some others may even explore how blockchain-based digital asset transactions and cryptocurrencies might fit into to their financial portfolio.

Despite its emergence more than a decade ago, blockchain continues to bring its own set of complex financial reporting risks. Emerging disruptors, tokenized businesses, digital asset exchanges, and any other organizations using blockchain or investing in digital assets face tough questions, including:

  • What internal controls do we need to implement for blockchain solutions and digital asset management?
  • What information about our blockchain use will our auditors need?
  • How can we properly account for and disclose our digital asset transactions?
  • How do our blockchain solutions and digital assets fit into preparation for an upcoming IPO?

Setting up and executing a blockchain strategy can be very complex. An experienced and knowledgeable guide can be invaluable.

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The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.

Contacts

Brian Hansen
Blockchain & Digital Assets Leader
US Audit & Assurance Partner
Deloitte & Touche LLP
brianhansen@deloitte.com

Tim Davis
Risk & Financial Advisory Global Center of Excellence
for Blockchain Assurance leader
Deloitte & Touche LLP
timdavis@deloitte.com

Amy Park
Blockchain & Digital Assets
US Audit & Assurance Partner
Deloitte & Touche LLP
amyjpark@deloitte.com

Peter Taylor
Blockchain & Digital Assets
US Audit & Assurance Senior Manager
Deloitte & Touche LLP
petertaylor@deloitte.com

Michael Marzelli
Blockchain & Digital Assets
US Audit & Assurance Partner
Deloitte & Touche LLP
mmarzelli@deloitte.com

Krystle Redic
Blockchain & Digital Assets
US Audit & Assurance Senior Manager
Deloitte & Touche LLP
kredic@deloitte.com

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