4/8/2023 0 Comments Disable outlook read receiptThe AICPA also updated its AICPA Practice Aid, Accounting for and auditing of digital assets (AICPA Practice Aid) to add Appendix B, which includes insights in a Question and Answer (Q&A) format on applying SAB 121 based on recent discussions with the SEC staff. This publication includes key considerations on scope, recognition, measurement, disclosure, and adoption of SAB 121, as well as on internal control over financial reporting (ICFR) related to SAB 121. In the SEC staff’s views, the objective of SAB 121 is to “enhance the information received by investors and other users of financial statements about these risks, thereby assisting them in making investment and other capital allocation decisions.” ![]() Safeguarding crypto assets presents unique risks and uncertainties, including technological, legal and regulatory risks. ![]() 121 (SAB 121), which expresses the SEC staff’s views on accounting for an entity’s obligations to safeguard crypto assets for another party. ![]() On March 31, 2022, the SEC issued Staff Accounting Bulletin No.
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