What it is
Once crypto assets are measured at fair value each period, the audit has to prove four things: the units exist, the price is from the right market, the roll from opening to closing value is complete, and the gains are split correctly. This workbook does each of those by asset.
It rolls units and fair value from opening to closing, separates realized gains on disposals from remeasurement gains, adds tax basis for the deferred tax memo, and compares ledger units with the custodian’s confirmation and the on-chain balance of wallets the entity controls. A ledger tab agrees the totals.
When to use it
- At every reporting date for an entity holding assets in the scope of ASC 350-60.
- When preparing the audit support for existence, valuation and cutoff of digital assets.
- When the tax team needs the book to tax basis difference by asset.
What’s inside
- Rollforward tab: units, prices, fair value, realized gain, remeasurement gain and tax basis by asset
- Price source column and a note on principal market evidence
- Count recon tab: ledger units against custodian and on-chain units with a flag
- Ledger tie tab for the carrying amount and net gains
Standard cited
This template follows ASC 350-60. 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.
Questions
How is the remeasurement gain calculated?
Closing fair value less opening fair value less the cost of acquisitions plus the fair value of disposals at the disposal date. Realized gain is proceeds less fair value at the disposal date. The two add to the total gain in net income.
Which price should be used?
The price in the principal market for the asset at the measurement time, or in the most advantageous market if there is no principal market. State the time zone and cutoff time and keep the price evidence in the file.
Does the tax basis affect the financial statements?
Not the carrying amounts. The book less tax difference feeds the deferred tax computation, so it belongs in the tax memo and in the income tax audit work.
Related templates
- Audit Program: Entity Holding Digital Assets
- Digital Asset Custodian Confirmation Letter
- Disclosure Checklist: Fair Value Measurements (ASC 820)
- Deferred Tax Rollforward and Valuation Allowance Worksheet
Last updated 11/05/2026. All free templates.