IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxiiy2012i1p1199-1203.html
   My bibliography  Save this article

Financial Reporting under XBRL and the Impact on the Financial Audit

Author

Listed:
  • Dobre Florin

    (Bucharest University of Economic Studies)

  • Vîlsãnoiu Daniel

    (Bucharest University of Economic Studies)

  • Popa Adriana Florina

    (Bucharest University of Economic Studies)

Abstract

The purpose of this paper is to present the perspectives of using XBRL (eXtensible Business Reporting Language) as a tool for financial auditors considering the increasing coverage of this language for financial reporting. We performed an extensive literature review concerning XBRL utilisation in Europe and in the US and identified several key areas where this technology may be extended in order to facilitate the planning phase of a financial audit. We propose adding several XML tags to the standard taxonomies that would include information which is usefull for auditors. This information may be account-specific (such as significant risks affecting an account or classes of transactions affecting the account) or may relate to the audied entity as a whole. Our conclusion is that XBRL may be successfully extended in order to contain data that may aid auditors in the planning phase of their engagements.

Suggested Citation

  • Dobre Florin & Vîlsãnoiu Daniel & Popa Adriana Florina, 2013. "Financial Reporting under XBRL and the Impact on the Financial Audit," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1199-1203, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1199-1203
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2013p1.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    XBRL; financial audit; risk based approach.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1199-1203. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.