（2006）Continuous Auditing XBRL.pdfVIP

XBRL 2006 Project Report I. Initial Planning a. Idea: Continuous Auditing XBRL i. Why is this important? ii. What are the capabilities? b. Program Flowchart c. Information Systems Aspect i. Formation of database ii. Role of XBRL d. Accounting Aspect i. Areas for transactions 1. Accounts Payable/Inventory II. Development a. Website Design b. Database Design c. Accounting Aspect i. Practice Sets 1. Simple vs. complex 2. Type of company 3. Perpetual vs. periodic 4. Transaction history generator in excel ii. Rules 1. Trial Balance (Debits = Credits) 2. Limits 3. Account Pairs iii. Chart of Accounts 1. Selection from XBRL GL 2. Elimination of accounts deemed unnecessary III. Evolution Of Project a. Changes in Logic i. Shift to agile/adaptive b. Additional Features Or Ideas Added i. Distribution ii. Summary Report c. Problems Incurred i. Single Line vs. Dual Line Transactions ii. Rule Capabilities iii. Handling history to create statistics that follow a normal curve IV. Future Developments a. More accounts loaded in GL b. More customizable audit rules c. Expand to all kinds of transactions d. Transaction screening features I. Initial Planning a. Idea: Continuous Auditing and XBRL i. Definition The changes in the business and audit e