This is a five-part case in which students are asked to assume the role of an auditor for Digital Assets Inc., a company that allows its customers to pay invoices in bitcoin, a common cryptocurrency that makes up approximately 50% of the market cap of all cryptocurrencies (as of May 2021).
EY has developed a leading-class analytics platform, EY Helix, for use by its Assurance practice to leverage new analytics techniques and technologies to enhance quality and drive efficiency in the audit. EY Helix is a proprietary tool and it is not available for the classroom. However, the EYARC has developed EY Helix Blockchain Analyzer for Public Networks for Students, a simplified tool based on elements of the EY Blockchain Analyzer within the EY Helix platform designed specifically for the classroom using TIBCO Spotfire® via the cloud (no software is required for use). The tool helps students simulate real-world audit analytics procedures by using similar data, analyses and tools used by professional auditors.
In this case, students will learn basics about blockchain and digital assets; accounting for cryptocurrencies; auditor’s responsibilities and audit risk assessment regarding cryptocurrency transactions; use of public blockchain data; and how to use their audit tool, the EY Helix Blockchain Analyzer for Public Networks for Students, to audit the company’s cryptocurrency portfolio.
Suitable courses: Auditing (external or internal); Data analytics