Does it add up? Early evidence on the data quality of XBRL filings to the SEC

Debreceny, Roger; Farewell, Stephanie; Piechocki, Maciej; Felden, Carsten; Gräning, André

doi:10.1016/j.jaccpubpol.2010.04.001

Cited by 169 publications

(111 citation statements)

References 22 publications

(16 reference statements)

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“…XBRL filings contained exceptions, inconsistencies, and errors that could limit their usefulness as data exchange mechanisms if users felt that the XBRL-related documents were not tagged properly or were otherwise lacking in quality. Debreceny, Farewell, Piechocki, Felden, and Gräning (2010) studied the first set of filings under the SEC"s mandatory XBRL filing program and also found a significant number of errors.…”

Section: Xbrl and Financial Reportingmentioning

confidence: 99%

“…A validation tool is essential to check the XBRL-tagged data because this task is too tedious for an auditor to perform effectively manually but is essential due to the high frequency of exceptions (e.g., calculation errors) or errors (e.g., EDGAR filer validation errors) that currently exist in XBRL-related documents (Boritz and No, 2008;Debreceny et al, 2010;SEC, 2009b). A validation tool usually performs two types of validations: taxonomy validation and instance validation.…”

Section: Validationmentioning

confidence: 99%

“…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%

See 2 more Smart Citations

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: Xbrl and Financial Reportingmentioning

confidence: 99%

Section: Validationmentioning

confidence: 99%

Section: Compliancementioning

confidence: 99%

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Computer-Assisted Functions for Auditing XBRL-Related Documents

Boritz

2016

Journal of Emerging Technologies in Accounting

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“…Four of these concern the taxonomies: the choice of appropriate XBRL taxonomies for drawing instance documents (-Proper Taxonomies‖), the compliance of taxonomy extensions with all XML and XBRL rules (-Valid Taxonomy Extensions‖), the appropriate introduction of new elements in XBRL taxonomy extensions (-Proper Extension Elements‖) and the appropriateness of linkbases in XBRL taxonomy extensions (-Proper Linkbases‖). Along the same lines, Debreceny et al (2010) state that the design and complexity of taxonomies may affect the data quality of instance documents.…”

Section: Literature Review Of Xbrl Taxonomiesmentioning

confidence: 99%

Adopting XBRL in Italy: Early evidence of fit between Italian GAAP Taxonomy and current reporting practices of non-listed companies

Valentinetti¹,

Rea²

2011

IJDAR

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Abstract. XBRL (eXtensible Business Reporting Language) will soon be the leading means of corporate financial reporting. A key feature of its adoption relies on well-defined standard taxonomies, which should adequately reflect both the accounting standards and the reporting practices of firms. This study considers this issue, following the concept of -taxonomy fit‖ proposed by Bovee et al. (2002; and Bonsón et al. (2009a). The aim is to fill a specific gap in the previous literature, by analyzing the applicability of XBRL in the context of template-based accounting standards. Specifically, we assess the fit between the XBRL Italian GAAP Taxonomy and the traditional annual reports of Italian non-listed companies, which are required to file their financial statements in XBRL. The results show an almost perfect fit but with significant differences among the financial statements analyzed. In addition, the degree of misfit, when it occurs, depends on the sector, the size and the level of disaggregation of information provided by the companies.

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“…In June 2009, more than 500 companies started submitting financial reports in this format, and this number was only to grow in the following year to about 1800, and subsequently to as many as 12,000 companies (XBRL International Inc., 2008). Debreceny (2010) describes it as the most significant change in financial reporting in the last two decades.…”

Section: Introductionmentioning

confidence: 99%

XBRL Implementation in the Banking Sector in Montenegro

Martić

Lalević-Filipović

Radović

2017

Journal of Central Banking Theory and Practice

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Abstract:The EXtensible Business Reporting Language -XBRL appeared in the beginning of the 21 st century and it represents one of the most important technological innovations in financial reporting, collecting and exchanging data since the introduction of electronic spreadsheets. However, although the XBRL standard is globally accepted, and it has been proved to be a standard sui generis, the implementation of the standard has not yet become a reality in Montenegro and the region. In this context, the goal of this article is to evaluate a new and, for our conditions unexplored, area from the point of application of modern methods of accounting theory and practice, highlighting both positive and negative aspects. This research is getting prominence having in mind that the EU integration process which Montenegro has already started would affect all areas of socioeconomic life and development, especially in terms of accounting practices harmonization.

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Does it add up? Early evidence on the data quality of XBRL filings to the SEC

Cited by 169 publications

References 22 publications

Computer-Assisted Functions for Auditing XBRL-Related Documents

Computer-Assisted Functions for Auditing XBRL-Related Documents

Adopting XBRL in Italy: Early evidence of fit between Italian GAAP Taxonomy and current reporting practices of non-listed companies

XBRL Implementation in the Banking Sector in Montenegro

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