Preparing Auditors to Evaluate Blockchains Used to Track Tangible Assets

IF 0.8 Q4 BUSINESS, FINANCE Current Issues in Auditing Pub Date : 2023-12-01 DOI:10.2308/ciia-2023-014
Mark D. Sheldon
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Abstract

This article summarizes “Tracking Tangible Asset Ownership and Provenance with Blockchain” (Sheldon 2022), which introduces auditors to the risks of using blockchain’s shared repository to track assets in the physical world. The underlying challenge is keeping the status of tangible assets aligned with their digital representations on a blockchain. In response, the summary focuses on the parties, technologies, and processes that make this task complex. The summary begins with an overview of how blockchain can be used to track tangible assets, then discusses four stages of tracking tangible assets with blockchain: (1) design and governance of a blockchain, (2) asset creation, (3) asset transfer, and (4) asset retirement. Based on the risks highlighted in these four stages, the summary presents a framework of risk considerations and control objectives that auditors can use to evaluate the extent to which a blockchain serves as a reliable repository for tracking tangible assets.
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让审计人员为评估用于追踪有形资产的区块链做好准备
本文总结了“用区块链跟踪有形资产的所有权和来源”(Sheldon 2022),向审计人员介绍了使用区块链共享存储库跟踪物理世界中的资产的风险。潜在的挑战是保持有形资产的状态与其在区块链上的数字表示保持一致。作为回应,摘要将重点放在使这项任务变得复杂的各方、技术和过程上。摘要首先概述了如何使用区块链来跟踪有形资产,然后讨论了使用区块链跟踪有形资产的四个阶段:(1)区块链的设计和治理,(2)资产创建,(3)资产转移和(4)资产退役。基于这四个阶段中突出的风险,摘要提出了一个风险考虑因素和控制目标的框架,审计师可以使用该框架来评估区块链作为跟踪有形资产的可靠存储库的程度。
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来源期刊
Current Issues in Auditing
Current Issues in Auditing BUSINESS, FINANCE-
CiteScore
1.60
自引率
12.50%
发文量
19
期刊最新文献
Preparing Auditors to Evaluate Blockchains Used to Track Tangible Assets Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB’s Amendments to PCAOB Auditing Standards Related to a Company’s Noncompliance with Laws and Regulations and Other Related Amendments Comments of the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB’s Proposed Amendments Related to Aspects of Designing and Performing Audit Procedures That Involve Technology-Assisted Analysis of Information in Electronic Form Implications of Divided Responsibility in Audits Involving Component Auditors Editorial Policy
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