assurance for digital reporting workshop 2.1.1 november 15, 2006
DESCRIPTION
Assurance for Digital Reporting Workshop 2.1.1 November 15, 2006. Your panel’s challenge: Regulators and the public digital information will have the same assurance and integrity as today’s paper report. - PowerPoint PPT PresentationTRANSCRIPT
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Assurance for Digital ReportingYour panel’s challenge:
• Regulators and the public – digital information will have the same assurance and integrity as today’s paper
report.– If assurance is not provided, it could hinder the adoption of digital reporting as
a tool for electronically exchanging information. – If the accounting profession is not able to provide assurance, other parties
could step in. • Regulators
– demanding auditors to provide assurance on electronic filings of financial statements.
• Governments– are asking the profession to deal with audit and assurance issues related to
electronic filings and provide the assurance needed by users. • Additionally,
– XBRL, can facilitate a more efficient and effective audit by providing a consistent method of capturing and interrogating business information. This not only enhances audit delivery but also creates new service opportunities.
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Assurance for Digital Reporting
Your panel:Jan Pasmooij – Netherlands
– Royal NIVRA• Manager IT Knowledge Centre• Chair IIN
– Chair XII-XBRL_Assurance Working Group<AWG>
Christian Dreyer – Switzerland – – Tertium datur AG
Jim Sylph – USA-Canada – Executive Director _Professional Standards- IFAC
Your chair Bill Swirsky – Canada –
– Vice President – CICA– Chair XBRL_Canada– Vice-Chair XBRL_International
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Assurance for Digital Reporting
Bill Swirsky _ Canada– Opening comments on XBRL and the Challenge to the Panel
Jan Pasmooij – Netherlands – Issues of technology – XBRL– Challenges to assurance – technology’s realities– Call for action
Christian Dreyer – Switzerland – what the users want– what the users assume
Jim Sylph – IFAC/IAASB– the standards setters agenda – responding to a call to action?
Open discussion from the floor• Are there questions? Concerns?
Bill Swirsky – Canada • closing comments- CICA
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Organizational ResourcesOrganizational Resources- StaffStaff
- Subject matter consultantsSubject matter consultants
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FactsFacts Definition, Content, and Definition, Content, and PresentationPresentation
ReportingReporting
Cash and Cash
Equivalents
$35,000 <cust:CashCashEquivalents
decimals="0" contextRef="End2004" unitRef="CAD"> 35000 </cust:CashCashEquivalents>
XBRL XBRL InstanceInstance
XBRL XBRL TaxonomyTaxonomy<element
name="CashCashEquivalents" id="cust_CashCashEquivalents" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="instant"/>
<xsl:for-each select="//cust:CashCashEquivalents"> <xsl:if test="@contextRef[.='End2004']"> <xsl:value-of select="format-number(current(), '###,###')"/> </xsl:if></xsl:for-each>
XSLT Style SheetXSLT Style Sheet
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The corporate reporting supply chain
ExternalFinancialReporting
BusinessOperations
InternalFinancialReporting
Investment,Lending,
RegulationProcesses Economic
Policymaking
Participants
AuditorsTradingPartners
Investors
FinancialPublishersand Data
Aggregators
Regulators
Software Vendors
ManagementAccountants
Companies CentralBanks
XBRLExternal Reporting
12
The corporate reporting supply chain
ExternalFinancialReporting
BusinessOperations
InternalFinancialReporting
Investment,Lending,
RegulationProcesses Economic
Policymaking
Participants
AuditorsTradingPartners
Investors
FinancialPublishersand Data
Aggregators
Regulators
Software Vendors
ManagementAccountants
Companies CentralBanks
XBRLExternal Reporting
C-Suite. CEO. CFO
Auditors
Capital Markets•Regulators• Analysts•Investors