In June 2024, the American Institute of CPAs (AICPA) updated its practice aid on the accounting for and auditing of digital assets. The practice aid is intended to provide nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively. Practitioners who prepare financial statements and auditors with a fundamental knowledge of blockchain technology will find the guidance most useful.
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Nov 18, 2024
One of the most constructive and proactive ways a board can send a message that its organization is committed to accountability, responsiveness, and stewardship is to draft a code of ethics to guide its board and staff in their activities and behavior. A code of ethics may not prevent wrong doing and unethical behavior but it makes known the organizational beliefs and values and it clarifies the consequences if someone errs on the wrong side of the fence.
Considerations when developing a code of ethics:
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