What it is
The question in a crypto audit is not what the balance is. A public ledger shows the balance of an address. The question is whether the entity controls the keys, or has a right to demand the assets back from a custodian.
The program covers population, custody structure, existence and rights, key controls and ASC Subtopic 350-60 measurement, presentation and disclosure.
When to use it
- Entities holding crypto assets for investment, treasury, payments or mining.
- Audits in the first year of ASU 2023-08.
- When crypto sits with an exchange or custodian.
What’s inside
- Wallet, exchange and custodian population procedures
- Signed message, test transfer and confirmation procedures
- Key generation, storage and transfer approval controls
- Fair value, scope and 350-60-50 disclosure procedures
Standard cited
This template follows ASC 350-60 / AU-C 330, 505. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use. See AU-C 330 explained.
Questions
Which accounting standard does it assume?
ASC Subtopic 350-60 from ASU 2023-08, effective for fiscal years beginning after December 15, 2024, with early adoption permitted. Assets outside the scope follow other guidance.
Does a matching blockchain balance prove ownership?
No. It shows the address holds the units. The program adds procedures that show control of the keys, such as signed messages and test transfers.
Related templates
- Audit Program: Entity Holding Digital Assets
- Digital Asset Custodian Confirmation Letter
- Digital Asset Fair Value Rollforward (ASC 350-60)
- Crypto Wallet Balance Existence and Valuation Test
Last updated 11/06/2026. All free templates.