What CPD Do Accountants Need to Advise on Digital Assets?

Digital assets — including cryptocurrencies and other forms of digital value — have become an area that accountants increasingly encounter, whether through clients, employers or the wider economy. For accountants who may need to understand or advise on digital assets, CPD is important to build relevant knowledge in this developing area. This guide explains what digital assets are, why they matter for accountants, and why ongoing learning is valuable. For related material, see our guide on continuing professional development. Note that the treatment and regulation of digital assets is developing — always check current guidance and consider professional advice.

What are digital assets?

Digital assets is a broad term covering forms of value that exist in digital form, including cryptocurrencies (such as well-known crypto-assets) and other types of digital tokens and assets. They've grown in prominence over recent years, and while views on them vary widely, they've become something that exists in the economy and that accountants may encounter — for example, where a client or employer holds, uses or transacts in them. Digital assets raise a range of questions for accountants, including how they should be accounted for, reported, and treated for tax, as well as questions around risk and compliance. Because they are a relatively new and developing area, the relevant accounting, tax and regulatory treatment continues to evolve, and is not always straightforward. Understanding the basics of what digital assets are is the starting point for accountants who may need to deal with them. Always refer to current guidance, as this area is developing.

Why digital assets matter for accountants

Digital assets matter for accountants for several reasons. As more individuals and organisations hold or use digital assets, accountants may encounter them through their clients or employers, and need to understand how to deal with them appropriately. There are real questions around the accounting and reporting of digital assets — how they should be recognised and presented in financial statements — which can be complex and is an area of ongoing development. There are tax considerations, since transactions involving digital assets can have tax implications that need to be handled correctly. And there are risk and compliance dimensions, including in areas like money laundering. For accountants, being able to understand and deal with digital assets where relevant is increasingly part of serving clients and employers well. Given that this is a developing and sometimes complex area, having relevant, current knowledge — and knowing when to seek specialist input — is valuable.

The challenges of a developing area

One reason CPD on digital assets is valuable is that it's a developing and evolving area. The accounting treatment, tax treatment and regulation of digital assets have been the subject of ongoing development as authorities and standard-setters consider how existing frameworks apply and whether new approaches are needed. This means the position can change, and what's appropriate may evolve over time. The area can also be complex, with different types of digital assets and situations potentially needing different treatment. And there's a knowledge gap for many, since digital assets are newer than most areas accountants are trained in. These challenges mean accountants dealing with digital assets need to take particular care to understand the current position, recognise the complexity and uncertainty involved, and seek specialist advice where appropriate. Keeping knowledge current through CPD helps accountants navigate this developing area responsibly. Always check current guidance and consider professional advice, since the treatment of digital assets continues to develop.

Why CPD on digital assets is valuable

Given that digital assets are an increasingly encountered and developing area, CPD is genuinely valuable for accountants who may need to deal with them. It helps build relevant knowledge in an area many weren't trained in. It helps accountants stay current as the accounting, tax and regulatory treatment develops. It supports accountants in dealing appropriately with digital assets when they encounter them, including knowing the questions to consider and when to seek specialist input. And it contributes to overall competence in a finance landscape that continues to evolve. For accountants whose clients or employers engage with digital assets, having relevant, current understanding is increasingly part of serving them well. CPD — through learning, keeping up with developments, and seeking specialist input where needed — is how accountants build and maintain this understanding in a developing area.

Frequently asked questions

What are digital assets?

A broad term for forms of value that exist in digital form, including cryptocurrencies and other digital tokens and assets. They've grown in prominence and raise questions around accounting, tax, risk and compliance.

Why do digital assets matter for accountants?

Because more clients and employers hold or use them, they raise real accounting, reporting, tax, risk and compliance questions, and accountants may need to understand and deal with them appropriately.

Why is this a challenging area?

Because it's developing and evolving — the accounting, tax and regulatory treatment continues to develop — it can be complex, and many accountants have a knowledge gap given how new it is.

Why is CPD on digital assets valuable?

It builds relevant knowledge, helps accountants stay current as treatment develops, supports dealing appropriately with digital assets, and contributes to competence — while knowing when to seek specialist advice.

Stay current with Learnsignal

Keeping knowledge current in developing areas is part of professional competence. Learnsignal's tutor-led CPD courses help accountants stay current and competent — with expert tuition and flexible online study that fits around work.