Auditing the Blockchain and Cryptocurrency
This course introduces blockchain technology by exploring its origins in cryptocurrency, the role of stablecoins, regulatory frameworks like the Genius Act, and foundational concepts such as KYC, blockchain layers, block structure, and core functionality. It highlights when blockchain is appropriate for use and details its key benefits. The course also addresses critical risks and limitations. It explores blockchain types—public, private, hybrid, consortium—and distinguishes between permissioned and permissionless models. Core components like cryptography, transactions, and blocks are explained alongside consensus mechanisms such as Proof of Work, Proof of Stake, and others, including conflict resolution and forking. The application of blockchain in supply chain management is covered through smart contracts and multi-party transactions. Finally, the course presents essential audit considerations, offering a full-spectrum view of blockchain’s operational, technical, and regulatory dimensions. Hands-on exercises assists in better understanding and applying of the concepts discuss in class.
CPE:
14
Program Level:
Intermediate
Delivery Method:
Live
Cost :
$675 for this 2-day course
Course Contents/Objectives
I. Introduction
• Blockchain Background
• Cryptocurrency Background
• Stablecoins
• Regulations – Genius Act
• KYC
• Layers of Blockchain
• Block structure
• Blockchain Functionality
• When to consider using a Blockchain
II. Benefits/Features
• Performance benefits
• Real-time auditing
• Cost benefits
• Trust aspects
• Decentralization
• Security benefits
• Other benefits
III. Risk/Limitations
• Real World data challenges
• Malicious activity
• Trust impacts
• Resource usage
• Wallets and private keys
• Segregation of Duties
• Continuous Monitoring
• Reconciliation
• Use of specialized tools such as block chain explorers
• Additional risks
IV. Types of Blockchain
• Public
• Private
• Hybrid
• Consortium
• Permissionless vs Permissioned
V. Blockchain Components
• Cryptographic Understanding
• Transactions
• Blocks
VI. Consensus Models
• Proof of Work
• Proof of Stake
• Round Robin
• Proof of Authority/Proof of Identity
• Proof of Elapsed Time
• Conflicts Resolution
• Forking
VII. Supply Chain and Blockchain Technology
• Smart Contracts
• Creating Transactions
• Multi-party Transactions
VIII. Audit Items
• Governance Controls
• Change Management
• IT Security
• Wallet/Key Considerations
• Integrity
• DRP/BCP
• Legal & Regulatory Risk Management
• Personnel
• Third-party Risks
• Contracting
Laptop Required
Students are required to have a laptop in order to complete the hands-on exercises. The laptop should meet the following specifications for the student to get the most from the exercises:
• 16 GB RAM or higher
• 25 GB available hard drive space
• Windows 11 professional or later
• Administrator privileges including the capability to install and run tools, as well as to disable anti-virus
• VMWare Player/Workstation should be installed
Target Audience
• Security Professionals
• Internal Auditors
• IT Specialist Auditors
• IT Auditors
• IT Audit Managers
• Information System Auditors
• Information Technology Auditors
• Information Security Officers
Prerequisites
What People Say About Us
Sue
Paul