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This article discusses XBRL, its impacts on users and on the characteristics of financial information, and provides an impacts framework for XBRL. XBRL will both simplify disclosure and ease the communication of financial information to users, analysts, and regulators via the Internet. The potential impacts that XBRL is expected to have on users, accountants, regulators, and the financial communication process are addressed. Research on XBRL is examined and future research directions and priorities are identified. A more rigorous look at the myriad range of potential impacts of XBRL is needed.
A growing body of literature related to continuous auditing topics has developed. Advances in information technology and web-based applications are making monitoring and control of operations through continuous auditing increasingly important. The objective of this paper is to describe, summarize, and provide a framework for classifying the contributions of the diverse literature addressing the topic of continuous auditing. This paper was intended to provide researchers and practitioners with a background in continuous auditing topics. Our broad view of the literature is also designed to discover areas holding the potential for future research. Research streams are divided into five major categories: demand factors, theory and guidance, enabling technologies, applications, and impacts. Over 80 papers have been identified that relate to these areas. Many more articles exist, especially in the area of enabling technologies. However, the focus of our paper is the literature most closely related to continuous auditing.
Abstract. This project attempts to add to the extant research by presenting the results of a future forecasting Delphi study that addresses the impacts of XBRL in the second decade of the new millennium. The future impacts of XBRL [eXtensible Business Reporting Language] on financial reporting were studied using the Delphi technique. The Delphi panel suggests that XBRL is very likely to impact corporations, financial reporting, users of financial reports and auditing. The most likely impacts of XBRL include: increased accessibility of financial reports, easier regulatory compliance, enhanced availability of financial reports, facilitation of continuous reporting, and improved efficiency in investment and business decision making.
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