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xAudit: Auditing Representation in XBRL Based Documents

Authors:
Allison Ramon Araújo de Santana
Paulo Caetano da Silva
Márcio A.Pereira da Silva
Maurício Codesso

Keywords: Continuous Auditing; Auditing Standards; XBRL; xAudit

Abstract:
Most financial documents are presented to governments and governors in computer language (e.g., XBRL). Information acquired from said reports should be free from faults, omissions and fraud, making it trustworthy to the point of supporting strategic decisions by the organizations that receive them. Although XBRL technologies present financial data and its accounting semantics, the auditing techniques used (which make this data even more trustworthy) are not stored or listed in the XBRL taxonomies. This fact makes it difficult to perform the auditing of these files, given that it’s up to the auditor to apply the concepts of auditing manually, without the assistance of the automated auditing process. With the continuous auditing it’s more and more possible to avoid the recidivism of fraud or even to identify it more quickly. Despite many auditing operations being performed under the XBRL perspective, it has not yet been defined a standard for the auditing of XBRL files. This paper proposes the establishment of a link database (Linkbase, in XLINK language), based on the XBRL specifications, which has been named xAudit, for the listing and storing of auditing techniques in XBRL taxonomies. To do so, a solution has been created, based on the XBRL definitions and auditing-specific regulations. Using xAudit, people try to solve the shortage for a standard for XBRL auditing. Some important points of the auditing process are raised in the present article. Using xAudit, it’s expected that organizations can achieve improved results, real-time verification and accurate data analysis.

Pages: 39 to 43

Copyright: Copyright (c) IARIA, 2018

Publication date: July 22, 2018

Published in: conference

ISSN: 2308-3972

ISBN: 978-1-61208-651-4

Location: Barcelona, Spain

Dates: from July 22, 2018 to July 26, 2018