Skip 2009 1 Assurance on XBRL Instance Documents: A Conceptual Framework of Assertions A discussion and extension Clinton E. White, Jr Professor of Accounting.

Slides:

Advertisements

Similar presentations

Chapter 1 An Introduction to Assurance and Financial Statement Auditing McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights.

Advertisements

CaseWare International Inc. XBRL implementation November 5, 2009 Copyright © CaseWare International Inc. Presented by Karen deSouza CaseWare ® International.

Chapter 20 Additional Assurance Services: Other Information

Client AcceptancePlanningTesting & EvidenceEvaluation & Reporting 1.Acceptance 8.Using the work of an expert 9.Management representations 2.Terms of engagement.

An Introduction to Assurance and Financial Statement Auditing

19th XBRL International Conference – June 25, 2009 University of Waterloo Efrim Boritz Iowa State University Won Gyun No.

Audit Guidance Using the Federal Information System Controls Audit Manual (FISCAM) to Achieve Audit Objectives in Financial and Performance Audits Mickie.

Discussant Gerald Trites, FCA, CA*CISA/IT. 1. Take the approach in the paper that the instance document is a fair representation of the original statements/documents;

Data Mining As A Continuous Auditing Tool for “Soft Information”: A Research Question A Research Proposal By J. Donald Warren, Jr. Rutgers University Fifth.

Internal Control in a Financial Statement Audit

General Ledger and Reporting System

McGraw-Hill/Irwin © 2013 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 9 XBRL.

Assurance on XBRL Instance Document: A Conceptual Framework of Assertions Rajendra P. Srivastava And Alexander Kogan 16th World Continuous Auditing & Reporting.

The 30,000-foot View of Financial Auditing. Financial Statements -Income Statement -Balance Sheet -Cash flow Statement -Notes to F/S Audit Opinions -Financial.

Considerations for XBRL Software Development Karl Busch Ernst & Young LLP November 5, 2003 XBRL Software Requirements for the Development of XBRL Taxonomy.

Chapter 13 Auditing Information Technology

1 Jan Pasmooij RE RA RO Chair Assurance Working Group XBRL Int. Chair XBRL Netherlands Member International Steering Committee XBRL Int. Manager ICT Knowledge.

Search Engines for Extracting, Managing, and Analyzing Knowledge from the SEC Filings in XBRL and Beyond Rajendra P. Srivastava Ernst & Young Professor.

 Mark & Sons Future Technology Co. (hereafter, MSFT) is a $40 billion public company that provides high-technology products and services.  Currently,

INTERNAL CONTROL OVER FINANCIAL REPORTING

Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Providing Assurance on XBRL Instance Documents of Financial Information October 24, 2003 Paul Penler, Ernst & Young Global XBRL Leader AICPA XBRL Implementation.

Learning Objectives LO1 Distinguish between management and auditor’s responsibilities regarding an auditee organization’s internal controls. LO2 Explain.

Skip 2013 Inline XBRL vs. XBRL for Financial Reporting UWCISA Symposium on Information Integrity & IS Assurance - Toronto, Oct 3, Clinton E. White,

XBRL Implementation: A Field Investigation Diane Janvrin Associate Professor Won No Assistant Professor AAA Annual Meeting August 4, 2010 We thank Amelia.

XBRL Canada Fourth Annual Conference October 7, :30 a.m. – 4:30 p.m. University of Waterloo Efrim Boritz Iowa State University Won Gyun No.

Skip Auditing an XBRL Instance Document: The Case of United Technologies Corp. A discussion and extension Clinton E. White, Jr Professor of Accounting.

Skip 2007 Current Issues in MIS The XML Language Foundation f - Clinton E. White, Jr Professor of Accounting & MIS Lerner College of B&E University.

Evidence and Documentation

Internal Control in a Financial Statement Audit

Assurance on XBRL Instance Documents: The Case of United Technologies Corporation University of Waterloo Efrim Boritz Won Gyun No UWCISA - 5th Symposium.

Learning Objectives LO5 Illustrate how business risk analysis is used to assess the risk of material misstatement at the financial statement level and.

Chapter 8: Client Risk Profile and Documentation

Pros and Cons Comparison By Justin Bost Olivia Bischoff.

Taylor Hawes Controller – Global Platforms & Operations Microsoft Corporation SEC Voluntary Filing Program.

Learning Objectives LO1 Define the various financial presentations and levels of service involved in association with special reports and compliance reporting.

1 Assurance on XBRL Instance Document: A Conceptual Framework of Assertions Rajendra P. Srivastava & Alexander Kogan Symposium on Information Integrity.

Background on Developments Related to XBRL & Assurance Amy Pawlicki Director – Business Reporting, Assurance & Advisory Services and XBRL AICPA.

S14: Analytical Review and Audit Approaches. Session Objectives To define analytical review To define analytical review To explain commonly used analytical.

1 An Integrated Approach to Assurance on XBRL Instance Document: A Conceptual Framework Rajendra P. Srivastava Ernst & Young Professor and Director E&Y.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Chapter 6 Current State of XBRL Discoverable Taxonomy Set Extension Taxonomies Validation of XBRL vs xml IFRS Taxonomy iXBRL Corporate Actions Audit Data.

Chapter 6 Current State of XBRL Discoverable Taxonomy Set Extension Taxonomies Validation of XBRL vs xml IFRS Taxonomy iXBRL Corporate Actions Audit Data.

Chapter 20 Additional Assurance Services: Other Information McGraw-Hill/IrwinCopyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.

McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc., All Rights Reserved. 6-1 Chapter 6 CHAPTER 6 INTERNAL CONTROL IN A FINANCIAL STATEMENT AUDIT.

Skip 2015 The AICPA Audit Data Standards & XBRL GL AIS Educators Conference Colorado Springs, CO 2015 Clinton E. White, Jr (Skip) – U of Delaware

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 6-1 Chapter Six Internal Control in a Financial Statement Audit.

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

 2004 Prentice Hall Business Publishing, Accounting Information Systems, 9/e, by Bodnar/Hopwood 13 – 1 Chapter 13 Auditing Information Technology.

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-1 Chapter Seven Auditing Internal Control over Financial Reporting.

1 Discussion of “Computer- Assisted Tools for Auditing XBRL- Related Documents” Symposium on Information Integrity & Information Systems Assurance David.

Clinton E. White, Jr (Skip) University of Delaware

Skip 2015 An Advanced XBRL Workshop: The AICPA Audit Data Standards & XBRL GL AIS Educators Conference Colorado Springs, CO 2015 Clinton E. White, Jr (Skip)

Analytical Review and Audit Approaches

Statement of Auditing Standard No. 94 The Effect of Information Technology on the Auditor’s Consideration of Internal Control in a Financial Statement.

Skip 2015 The AICPA Audit Data Standards - Intro & an academic’s perspective - UWCISA Information Integrity & Systems Assurance Toronto - October 2015.

1 CHAPTER 5 - b INTERNAL CONTROL OVER FINANCIAL REPORTING.

ING XBRL Proof of Concept July 19, ©2005 page 2. Utilizing XBRL  ING Objectives  Benefits  Goals  Proof of Concept Plan  Stat  USGAAP  Pain.

CS SONU LAKHANI AEO, ICSI.  WHAT IS XBRL?  XBRL IN THE INDIAN CONTEXT  HOW DOES XBRL WORK?  HOW IS TAGGING DONE?  HOW TO CREATE AN INSTANCE DOCUMENT?

McGraw-Hill/Irwin © The McGraw-Hill Companies 2010 Internal Control in a Financial Statement Audit Chapter Six.

Advanced Accounting Information Systems Day 28 Introduction to XBRL October 30, 2009.

Chapter 6 Internal Control in a Financial Statement Audit McGraw-Hill/IrwinCopyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

An Introduction to Assurance and Financial Statement Auditing

IS 356 IT for Financial Services

Developing the Overall Audit Plan and Audit Program

BASIC AUDITING CONCEPTS: MATERIALITY, RISK ASSESSMENT, AND EVIDENCE

Service Organization Control (SOC)

Statement of Auditing Standard No. 94

Internal Control Internal control is the process designed and affected by owners, management, and other personnel. It is implemented to address business.

Presentation transcript:

Skip Assurance on XBRL Instance Documents: A Conceptual Framework of Assertions A discussion and extension Clinton E. White, Jr Professor of Accounting & MIS Lerner College of Business University of Delaware

Skip Srivastava & Kogan Contributions: Contributions: – Have created a conceptual framework of assertions for providing assurance on XBRL instance documents (IDs) – Provide a framework which will provide structure and guidance to ID assurance providers – Make a significant contribution to understanding the requirements for addressing the timely issue of providing assurance that XBRL IDs are accurate and consistent with the information presented in traditional format filings (SEC 2008)

Skip Srivastava & Kogan Have misnamed their paper: Have misnamed their paper: – Management makes assertions about XBRL IDs – Auditors use a conceptual framework to provide assurance they are accurate Possibly: “A Conceptual Framework To Test Management’s Assertions About XBRL Instance Documents” Possibly: “A Conceptual Framework To Test Management’s Assertions About XBRL Instance Documents”

Skip Srivastava & Kogan Limitations: Limitations: – Superficially address “procedures as items of evidence pertaining to the assertions” Make claims about “intelligent software” that beg to be explicated Make claims about “intelligent software” that beg to be explicated Please explain: Please explain: – IS can be programmed to tag all the business facts – IS can be programmed to read the values of the business facts (and read the values of the business items) from the original document

Skip Srivastava & Kogan Limitations Limitations – Superficially address the issues of: The importance of the reporting purpose The importance of the reporting purpose – Not all validation is the same The knowledge level of the auditor The knowledge level of the auditor The quality of evidence The quality of evidence The reliability of the software used in the assurance/audit evidence collection process The reliability of the software used in the assurance/audit evidence collection process

Skip Conceptual Framework (Fig 1)

Skip An Extension: The ID Creation & Assurance Process An entity should have done the following An entity should have done the following – Chosen the appropriate taxon. for the intended purpose – Mapped the reports to the concepts in the chosen taxon. – Identified all intended changes/extensions – Chosen a software tool to create & valid. the ID package – Created and validated the ID package An auditor/assur. provider should do the following: An auditor/assur. provider should do the following: – Review the intended purpose of the ID package – Obtain the entity’s/client’s ID package & documentation – Perform the assurance procedures using reliable software and the appropriate techniques

Skip

Skip Entity’s/Client’s Map Sheet

Skip Client’s Extension Schema

Skip Suggestions Consider the following: Consider the following: – What is the intended purpose of the ID ID packages are not all equal ID packages are not all equal Assurance will not be the same Assurance will not be the same – Does the appropriate documentation exist? Will affect RMM & therefore audit procedures Will affect RMM & therefore audit procedures – Collect the appropriate evidence to issue an assurance judgment Consider the quality of the evidence Consider the quality of the evidence

Skip Resources AICPA, SOP 09-1 Performing Agreed-Upon Procedures Engagements That Address the Completeness, Accuracy, or Consistency of XBRL- Tagged Data (2009) AICPA, SOP 09-1 Performing Agreed-Upon Procedures Engagements That Address the Completeness, Accuracy, or Consistency of XBRL- Tagged Data (2009) Boritz, Efrim and Won Gyun No, Auditing and XBRL Instance Document: The Case of United Technologies Corporation (2008) Boritz, Efrim and Won Gyun No, Auditing and XBRL Instance Document: The Case of United Technologies Corporation (2008) Debreceny, Roger and Stephanie Farewell, Mapping Financial Statements to XBRL Taxonomies: A Case Study (2009) Debreceny, Roger and Stephanie Farewell, Mapping Financial Statements to XBRL Taxonomies: A Case Study (2009) Mautz, R.K. and Hussein A. Sharaf, The Philosophy of Auditing (AAA, 1961) Mautz, R.K. and Hussein A. Sharaf, The Philosophy of Auditing (AAA, 1961) SEC, Draft EDGAR Filing Manual (Volume II) (2009) SEC, Draft EDGAR Filing Manual (Volume II) (2009)

Skip Resources Srivastava, Raj and Alex Kogan, Assurance on XBRL Instance Document: A Conceptual Framework of Assertions (2009) Srivastava, Raj and Alex Kogan, Assurance on XBRL Instance Document: A Conceptual Framework of Assertions (2009) White, Clinton, Jim’s Sporting Goods: The Move to XBRL Reporting (2009) White, Clinton, Jim’s Sporting Goods: The Move to XBRL Reporting (2009)