（2007）Achieving Sarbanes-Oxleys Compliance with XBRL-Based ERP and Continuous Auditing.pdfVIP

ACHIEVING SARBANES-OXLEY COMPLIANCE WITH XBRL-BASED ERP AND CONTINUOUS AUDITING Yuan Li, The University Of Texas Pan American, yli1@ Joseph N. Roge ’, The University Of Texas Pan American, jroge@ Les Rydl, The University Of Texas Pan American, lrydl@ Jerald Hughes, The University Of Texas Pan American, jhughes1@ ABSTRACT to the company and its consolidated subsidiaries is made known to such officers by others within those The Sarbanes-Oxley Act (SOX) of 2002 places entities, particularly during the period in which the significant and costly new burdens on public periodic reports are being prepared.” The officers companies. Meeting the recurring requirements for must “have evaluated the effectiveness of the financial reporting under SOX effectively will company’s internal controls as of a date within 90 demand innovative application of information days prior to the report” and “have presented in the technology. The Continuous Auditing Web Services report their conclusions about the effectiveness of model (CAWS) provides a framework for considering their internal controls based on their evaluation as of how to efficiently manage and automate financial that date.” Third and finally, section 404 requires reporting. We propose extending the basic ideas management to produce an “internal