The risks associated with digital assets vary, depending on how an entity holds these assets or...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The risks associated with digital assets vary, depending on how an entity holds these assets or transacts with them. Auditors need to understand and evaluate controls around custody, either internal controls in self-custody situations or service organization controls (SOC) in third-party custody solutions. For your homework, use the internet to research the risks of blockchain from an auditing perspective. Homework: 1. Using word, discuss at least 8 risks that can be associated with digital assets and how those risks can be mitigated. 2. You need to write in complete sentences and after listing each risk, discuss the risk and how it can be mitigated. The risks associated with digital assets vary, depending on how an entity holds these assets or transacts with them. Auditors need to understand and evaluate controls around custody, either internal controls in self-custody situations or service organization controls (SOC) in third-party custody solutions. For your homework, use the internet to research the risks of blockchain from an auditing perspective. Homework: 1. Using word, discuss at least 8 risks that can be associated with digital assets and how those risks can be mitigated. 2. You need to write in complete sentences and after listing each risk, discuss the risk and how it can be mitigated.
Expert Answer:
Answer rating: 100% (QA)
Answer 1 One of the risks associated with digital assets is the risk of theft This can be mitigated ... View the full answer
Related Book For
Management Accounting
ISBN: 9780730369387
4th Edition
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey
Posted Date:
Students also viewed these accounting questions
-
How can retailers reduce the risks associated with apprehending suspected shoplifters?
-
An insurance company needs to assess the risks associated with providing hurricane insurance. During the 22 years from 1990 through 2011, Florida was hit by 27 major hurricanes (level 3 and above)....
-
How could Rue 21 reduce the risks associated with its real-estate strategy?
-
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 150 membership member shoppers who recently made a...
-
Suppose the Barges Corporation's common stock has an expected return of 12%. Assume that the risk free rate is 5%, and the market risk premium is 6%. If no unsystematic influence affected Barges...
-
Find the coordinates of the midpoint of the segment with the given endpoints. P(-8, -7) and Q(11, 5)
-
Explain what is meant by the term qualifying asset in the context of foreign currency transactions. Describe the accounting treatment for exchange differences that relate to qualifying assets.
-
Corrs Company began operations in 2013 and determined its ending inventory at cost and at lower-of-cost-or-market at December 31, 2013, and December 31, 2014. This information is presented below....
-
Write one page about pipelining in smartphones that support Android operating systems. (10 marks)
-
George and Harry Haygood are building contractors who specialize in the construction of private home dwellings, storage warehouses, and small businesses (less than 20,000 sq. ft. of floor space)....
-
Low-income Canadians report higher levels of fear and distrust, and are more likely to be victims of certain types of crime. All of the following contribute to that EXCEPT for ________. a. high rates...
-
Explain electronic commerce and social commerce and how they relate.
-
Suggest how you would advise a business that has a website which is not delivering a benefit to the company.
-
Explain the components of the digital market environment.
-
Imagine you are explaining the difference between the digital marketing and e-commerce to a marketing manager. How would you explain these two terms?
-
What action should an e-commerce manager take to ensure compliance of their site with ethical and legal standards?
-
In this project, you are to hedge the market risk of a one-stock portfolio using stock index futures. Suppose today is Oct 10, 2022. On Oct 10, you purchase either 100 or 1,000 or 10,000 or 100,000...
-
In Exercises 15 through 30, find the derivative dy/dx. In some of these problems, you may need to use implicit differentiation or logarithmic differentiation. y ex + et -2x 1 + e
-
The management of SouthPak Company has asked for your assistance in deciding whether to continue manufacturing a part or to buy it from an outside supplier. The part, called AlphaB, is a component of...
-
The Mavericks are a professional football team with a long tradition of winning. However, over the last three years, the team has not won a major championship, and attendance at games has dropped...
-
Briefly comment on how legislation and societal expectations could influence the scope of sustainability management practice within organisations.
-
An analysis of the accounts of Beautiful Bottles Pty Ltd reveals the following manufacturing cost data for the month ended 30 June 2019. Required (a) Prepare the cost of goods manufactured schedule...
-
The following accounts and amounts (balances are normal balances) were taken from the records of Prider Manufacturers Ltd at 30 June 2019. Required (a) Prepare a cost of goods manufactured statement...
-
The following data were taken from the records of Manik Manufacturing Ltd for the year ended 30 June 2019. Required (a) Prepare the cost of goods manufactured schedule for the year ended 30 June...
Study smarter with the SolutionInn App