XBRL: What's In It for Internal Auditors

Presenter: Gianluca Garbellotto

XBRL’s most visible applications involve streamlined preparation of customized regulatory reports and other public disclosures. However, XBRL’s greatest business value proposition lies in enabling the transition from manual to automated accounting processes that address critical issues in the internal data integration and reporting environment, and doing so by leveraging the existing information technology infrastructure rather than changing it. This session, based on a white paper written for THEIIA - The Institute of Internal Auditors, will focus on the internal uses of XBRL and how they enable: •The migration from manual to automated processes in key activities;

• The ability to more efficiently access and integrate entity-wide data;
• The abstraction of business rules and controls that can be consistently applied across a wide range of software applications;
• The transition towards continuous auditing and monitoring.