Assurance on XBRL-Related Documents: The Case of United Technologies Corporation

Posted: 21 Nov 2014 Last revised: 6 Jan 2015

See all articles by J. Efrim Boritz

J. Efrim Boritz

University of Waterloo - School of Accounting and Finance

Won Gyun No

Rutgers, The State University of New Jersey - Accounting & Information Systems

Multiple version iconThere are 2 versions of this paper

Date Written: 2009

Abstract

The eXtensible Business Reporting Language (XBRL) was developed to provide financial information users with a standardized method to prepare, publish, and exchange business information in digital format. XBRL is being used around the world for financial reporting and government e-filings. Although there has been growing awareness about assurance issues related to the use of XBRL, current audit practices and standards fall short of providing the needed guidance for the provision of assurance on XBRL-Related Documents. In this paper, we report on a mock assurance engagement that we conducted on the XBRL-Related Documents of United Technologies Corporation’s 10-Q for the third quarter of 2005 and repeated on its 10-Q for the third quarter of 2008 to identify the issues that companies and auditors might encounter if they are requested to provide assurance on XBRL-Related Documents. We describe the assurance framework applied in the mock assurance engagement, present the findings from the examination process, and discuss future research opportunities associated with XBRL documents assurance.

Keywords: XBRL (eXtensible Business Reporting Language), assurance, case study

Suggested Citation

Boritz, Efrim and No, Won Gyun, Assurance on XBRL-Related Documents: The Case of United Technologies Corporation (2009). Journal of Information Systems, Vol. 23, No. 2 (Fall), 2009 pp. 49-78, Available at SSRN: https://ssrn.com/abstract=2528174

Efrim Boritz (Contact Author)

University of Waterloo - School of Accounting and Finance ( email )

200 University Avenue West
Waterloo, Ontario N2L 3G1 N2L 3G1
Canada
519-888-4567 (Phone)
519-888-7562 (Fax)

Won Gyun No

Rutgers, The State University of New Jersey - Accounting & Information Systems

1 Washington Park, Room 993
Newark, NJ 07102-3122
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
538
PlumX Metrics