What it is
The first question on a digital asset audit is whether the entity controls what it reports. Balances can be proven on the public ledger, but control depends on keys and custodian arrangements, so the program tests existence, rights and key control before valuation.
It covers wallet listing completeness, confirmation with custodians and platforms, scope and fair value under ASC 350-60, transactions and rewards, related parties and compliance. The workbook has sign-off columns and a completion summary.
When to use it
- Auditing a company, fund or nonprofit that holds crypto assets directly or with a custodian.
- Documenting the scope conclusion for each asset type under ASC 350-60.
- Planning confirmations and key control walkthroughs.
What’s inside
- Wallet, address and account listing completeness steps
- Custodian and platform confirmation and service organization report steps
- On-chain existence and private key control procedures
- Principal market, fair value and rollforward tests
- Related party token, staking and lending procedures
Standard cited
This template follows ASC 350-60 / AU-C 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 505 explained.
Questions
Does ASC 350-60 apply to every token?
No. It applies to assets that meet its scope criteria. The program asks you to document the conclusion by asset and test out-of-scope assets at cost less impairment.
How do I prove existence?
Combine custodian confirmation, the public ledger balance at the measurement time and evidence of control, such as a signed message from the address.
Does the program name any platform?
No. Enter the legal names of platforms and custodians in the working papers.
Related templates
- Digital Asset Custodian Confirmation Letter
- Digital Asset Fair Value Rollforward (ASC 350-60)
- Related Party Transactions Schedule (AU-C 550 / ASC 850)
- Confirmation Control Log (AU-C 505)
Last updated 11/05/2026. All free templates.