Software firm Cloudoffis has developed an enhancement for cryptocurrency on its Auditomation platform, enabling auditors to more effectively identify, assess, and manage the unique risks associated with crypto investments.

The accounting and SMSF advisory software provider has said cryptocurrency is now a dedicated asset class on its platform, meaning crypto holdings are separate from listed and unlisted investments within Auditomation.

Cloudoffis said this gives auditors clearer visibility of crypto assets from the outset of an engagement and enables them to apply dedicated audit procedures consistently.