The following guidance includes both instructional observations, where applicable, and suggested answers for each of the module requirements. Based on our experience in administering the case, undergraduate students generally have more difficulty in preparing complete solutions to each of the modules than do graduate students. Instructors may want to provide additional guidance and examples to undergraduate students during in-class discussions to reduce student frustration and, thereby, enhance learning. Students may specifically benefit from additional guidance related to the identification of risks and relevant assertions, as well as SOC reporting.
There are a number of risks associated with accepting Bitcoin payments and Bitcoin ownership, and student answers will likely vary. However, this question is designed to engage the students in critical thinking regarding the risks that could result in material misstatements as required in the risk assessment process (see AU-C 315, Understanding the Entity and Its Environment and Assessing the Risks...
