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Read this FAQ to learn about considerations when auditing crypto-asset mining revenue and check out the illustrative examples included in the appendix.
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As the crypto-asset market continues to expand, it has highlighted challenges for auditors in obtaining assurance over this complex asset class. This FAQ aims to answer some key questions specific to auditing revenue at a crypto-asset mining entity. This non-authoritative guidance can be applied to companies running their own mining operations, or to miners participating in a pool.
In this FAQ, you will learn:
Check out the appendix of this document for two illustrative examples of substantive analytical procedures that an auditor may prepare when auditing mining revenue. These examples show varying levels of complexity to illustrate inputs that may be required in developing procedures. Keep in mind that the appropriateness of audit procedures depends on the individual facts and circumstances of the entity and audit risks, and the approach should be tailored accordingly.
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