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Navigating Auditing Risks in the Crypto Asset Landscape

Author

Listed:
  • Georgiana-Iulia LAZEA (TRIFA)

    (West University of Timisoara, Romania)

  • Ovidiu-Constantin BUNGET

    (West University of Timisoara, Romania)

  • Anca-Diana BALAN

    (West University of Timisoara, Romania)

  • Mircea Stefan SOLOVASTRU

    (Bucharest Stock Exchange, Romania)

Abstract

The rise of crypto assets presents unique challenges and risks for auditors, requiring a revaluation of traditional auditing practices. This paper explores the inherent, control, valuation, and related risks associated with crypto assets, emphasising the complexities of valuation, compliance, and fraud detection. Starting from a bibliometric visualisation in VOSviewer, it points out thematic trends and key concepts in crypto auditing. The database was downloaded from the Web of Science Core Collection (2000-2024 Q3). The findings offer valuable insights for auditors, policymakers, investors, researchers, and practitioners who rely on accurate audits to make informed decisions and build trust and transparency in the crypto ecosystem.

Suggested Citation

  • Georgiana-Iulia LAZEA (TRIFA) & Ovidiu-Constantin BUNGET & Anca-Diana BALAN & Mircea Stefan SOLOVASTRU, 2025. "Navigating Auditing Risks in the Crypto Asset Landscape," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 23(177), pages 197-209, February.
    • Handle: RePEc:aud:audfin:v:23:y:2025:i:177:p:197
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    References listed on IDEAS

    as
    1. Liuxuan Pan & Owen Vaughan & Craig Steven Wright, 2023. "A Private and Efficient Triple-Entry Accounting Protocol on Bitcoin," JRFM, MDPI, vol. 16(9), pages 1-9, September.
    2. Erica Pimentel & Emilio Boulianne, 2020. "Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities," Accounting Perspectives, John Wiley & Sons, vol. 19(4), pages 325-361, December.
    3. Maria Cadiz Dyball & Ravi Seethamraju, 2021. "Client use of blockchain technology: exploring its (potential) impact on financial statement audits of Australian accounting firms," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 35(7), pages 1656-1684, October.
    4. Boon Seng Tan & Kin Yew Low, 2019. "Blockchain as the Database Engine in the Accounting System," Australian Accounting Review, CPA Australia, vol. 29(2), pages 312-318, June.
    5. Nicolette Klopper & Sophia Magaretha Brink, 2023. "Determining the Appropriate Accounting Treatment of Cryptocurrencies Based on Accounting Theory," JRFM, MDPI, vol. 16(9), pages 1-16, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    cryptocurrency; crypto assets; risk; audit risk; inherent risk; control risk;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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