BTC_AFv1 Development

Wiehann Olivier () and Pieter Buys ()
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Wiehann Olivier: North-West University & Forvis Mazars South Africa, Applied Research in Management Cybernetics
Pieter Buys: North-West University, Applied Research in Management Cybernetics

Chapter Chapter 6 in Auditing Bitcoin, 2026, pp 81-93 from Springer

Abstract: Abstract This chapter presents the development of BTC_AFv1, the foundational iteration of the envisioned Bitcoin Audit Framework (BTC_AF), designed to guide auditors in addressing the complexities of auditing Bitcoin-related balances and transactions. Grounded in the object-centric design phase of the elaborated Action Design Research (eADR) methodology, the chapter responds to the book’s objective through a structured framework aligned with International Standards on Auditing (ISA) assertions. Drawing on literature, practitioner insights, and the technical features of the Bitcoin blockchain protocol, the framework outlines detailed procedures that cover key areas, including wallet management, cryptographic ownership verification, and transactional completeness. Each procedure is mapped to relevant assertions, ensuring audit rigor, clarity, and practical relevance. The result is a robust audit tool that integrates theoretical foundations with real-world application, offering clear guidance for auditors engaging with Virtual Asset Service Providers (VASPs) and non-VASPs exposed to the Bitcoin blockchain and its native currency. The BTC_AFv1 thus establishes a foundation for industry validation, positioning itself as a valuable artifact in advancing audit quality and consistency within the evolving digital asset landscape.

Keywords: Audit; Bitcoin; Blockchain protocol; Cryptographic verification; Digital assets; Elaborated action design research; International standards on auditing; Virtual asset service provider (search for similar items in EconPapers)
JEL-codes: M15 M42 O31 O33 (search for similar items in EconPapers)
Date: 2026
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DOI: 10.1007/978-981-95-5775-2_6

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