Analysis and review of existing studies of using XBRL on auditors’ reports: Impact and quality

Authors

  • Khitam Abd Zaid Al-Shammari
  • Haider Atta Zabin Al-Maksousi

Keywords:

XBRL ; Auditor ; External reporting ; Positive impact; Information Systems

Abstract

An analysis and review of existent literature on the effects of using XBRL on the quality of auditors’ reports was conducted. The keywords ‘XBRL,’ ‘auditors,’ ‘XBRL effect on auditing,’ "XBRL and auditors’ report," and "impact of XBRL on financial reporting" were searched on Science Direct and Google Scholar. These brought many results, which were sorted, picking articles and reports from recognized institutions and journals. The paper identifies that XBRL significantly reduces the time that goes into producing auditors’ reports, provides mechanisms for continuous auditing, ensures consistency and authenticity of data used in auditing, reduces audit costs and provides evidence to support auditors’ reports. However, lack of effective training on the use of the technology, excess confidence in the accuracy of the technology, errors of original entry, and the high cost of training auditors on how to operate XBRL, among others, have been identified as the negative impacts of the technology on the auditors’ report. The positive impacts outweigh the negative impacts, and XBRL contributes to better, more efficient, and more accurate auditors’ reports than other financial reporting systems used

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Published

2022-12-14

How to Cite

Khitam Abd Zaid Al-Shammari, & Haider Atta Zabin Al-Maksousi. (2022). Analysis and review of existing studies of using XBRL on auditors’ reports: Impact and quality. Al Kut Journal of Economics and Administrative Sciences, 14(45). Retrieved from https://kjeas.uowasit.edu.iq/index.php/kjeas/article/view/480