XBRL filings: What have we learned?

Weirich, Thomas R.; Harrast, Steven A

doi:10.1002/jcaf.20609

Cited by 5 publications

(10 citation statements)

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“…There are several errors that companies make with respect to the accuracy of XBRLrelated documents (Bartley et al, 2010;Boritz and No, 2008;Debreceny et al, 2010;SEC, 2009b;2010b;Weirich and Harrast, 2010;XBRL US, 2010a …”

Section: Accuracymentioning

confidence: 99%

Computer-Assisted Functions for Auditing XBRL-Related Documents

Boritz

2016

Journal of Emerging Technologies in Accounting

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The increasing global adoption of XBRL and its potential to replace traditional formats for business reporting raise questions about the quality of XBRL-tagged information. In this paper, we identify a set of issues and audit objectives that auditors might confront if they are asked to provide assurance procedures on the XBRL-related documents. We also address useful computer-assisted audit functions for supporting various audit tasks on XBRL instance documents and extension taxonomies and discuss how the identified audit objectives could be accomplished using these functions.

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Section: Accuracymentioning

confidence: 99%

Computer-Assisted Functions for Auditing XBRL-Related Documents

Boritz

2016

Journal of Emerging Technologies in Accounting

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“…According to previous studies (Boritz and No, 2008;Debreceny et al, 2010;Weirich and Harrast, 2010), common errors in XBRL creation are that companies improperly represent the relationship among elements, fail to establish mathematical relationships among elements in a calculation linkbase, and present elements in the wrong location in a presentation linkbase.…”

Section: Compliancementioning

confidence: 99%

“…Studies have shown that several common errors in XBRL creation can occur when companies map business facts in the official financial statements to elements in XBRL taxonomies (Boritz and No, 2008;Debreceny et al, 2010;SEC, 2009b;2010b;Weirich and Harrast, 2010). Some companies have used a less appropriate standard element even though a more appropriate standard element exists.…”

Section: Suitabilitymentioning

confidence: 99%

Computer-Assisted Functions for Auditing XBRL-Related Documents

Boritz

2011

SSRN Journal

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“…As noted above, research has noted that current XBRL-related documents often contain errors (Bartley et al 2009(Bartley et al , 2011Debreceny et al 2010;Weirich and Harrast 2010;Du et al 2011). As interactive data visualization software that presents financial statement values becomes readily available, investors will be more likely to rely on XBRL-related data.…”

Section: What Are the Potential Benefits And Shortcomings Of Implemenmentioning

confidence: 99%

“…Although the mandate explicitly states that public accountants are not required to provide assurance on these XBRL-related documents, early research (i.e., Bartley et al 2009Bartley et al , 2011Debreceny et al 2010;Weirich and Harrast 2010;Du et al 2011) finds that several documents contain errors. Further, new interactive data visualization software allows for the presentation of individual values from the financial statements (Dilla et al 2010;Janvrin et al 2011).…”

Section: Responses To Specific Questions In the Releasementioning

confidence: 99%

Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB Rulemaking Docket Matter No. 34: PCAOB Release No. 2011-003,Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements.

Brazel¹,

Caster²,

Davis³

et al. 2011

Current Issues in Auditing

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SUMMARY Recently, the Public Company Accounting Oversight Board (PCAOB or Board) issued a concept release to solicit public comment on the potential direction of a proposed standard-setting project on the content and form of reports on audited financial statements. The objective of the concept release was to discuss several alternatives for changing the auditor's reporting model that could increase its transparency and relevance to financial statement users, while not compromising audit quality. To that end, the alternatives included (1) a supplement to the auditor's report, in which the auditor would be required to provide additional information about the audit and the company's financial statements (an “Auditor's Discussion and Analysis”), (2) required and expanded use of emphasis paragraphs in the auditor's report, (3) auditor reporting on information outside the financial statements, and (4) clarification of certain language in the auditor's report. The PCAOB provided for a 102-day exposure period (from June 21 to September 30, 2011) for interested parties to examine and provide comments on the conceptual approaches to rulemaking that might complement the application of Section 105(c)(6). The Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below to the PCAOB on the PCAOB Release No. 2011-003, Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements. Data Availability: Information about and access to the release is available at: http://pcaobus.org/Rules/Rulemaking/Docket034/Concept_Release.pdf

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XBRL filings: What have we learned?

Cited by 5 publications

References 0 publications

Computer-Assisted Functions for Auditing XBRL-Related Documents

Computer-Assisted Functions for Auditing XBRL-Related Documents

Computer-Assisted Functions for Auditing XBRL-Related Documents

Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on the PCAOB Rulemaking Docket Matter No. 34: PCAOB Release No. 2011-003,Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements.

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