What questions should audit committees ask about Bitcoin treasury exposure?
An audit committee should ask, at minimum: Where is the dated IPS amendment authorising the position? Which custodian holds the assets, and which attestation reports has internal audit reviewed? What is the signing matrix, and when was the quorum last rehearsed? What are the SRF thresholds, and which responses are pre-authorised? Which disclosures land in the next 10-Q, and were they reviewed before earnings?
Why this question gets asked
Audit committees inherit a position they did not approve. They want a structured agenda for the next meeting.
Treasury v1 asks vs. Treasury v2 asks
- Did we file correctly?
- Is the auditor comfortable?
- Where is the evidence chain for every action the operator took this quarter?
- Which exceptions are still open, with what remediation date?
“What questions should audit committees ask about Bitcoin treasury exposure?”
“Which evidence does the committee need on file before the next reporting period closes?”
Audit committees inherit a position they did not approve. They want a structured agenda for the next meeting.
What decision-makers should watch
- Dated IPS amendment and custody attestation on file
- Signing rehearsal recorded in committee minutes
- SRF thresholds presented with named owners
- Disclosure draft reviewed before each earnings release
- Material exception log standing item on every agenda
Related questions
Satoshi Institute view
The audit committee that asks these five questions discovers what kind of treasury it actually has — usually one cycle before the market does.
Glossary terms
Cross-reference the institutional glossary, RARTA, SRF, and BEOL.