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 | Order information
Product Number 01520001
Price: Members $45.00 Non-members $50.00
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Principal author
Jerry Trites, FCA, CA•IT, CA•CISA
CICA contact
Andrée Lavigne, CA
research.studies@cica.ca
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Project objective
The purpose of this study is to explore the implementation and business process implications of tagging XBRL at different levels in an organization’s information infrastructure. More specifically, the objectives for the study were to: - Explain in non-technical terms what XBRL is, the growing usage of XBRL, how it is being applied, for what purposes and the business case for adopting it.
- Discuss the applications of XBRL for streamlining and automating the reporting process for both internal and external purposes.
- Outline the steps in the implementation of XBRL, along with the pitfalls to guard against.
- Recommend best practices in implementation of XBRL.
- Provide guidance on the processes involved in adopting XBRL and the implications.
Terms of reference
The terms of reference of the study were as follows: - Interview various organizations that have adopted XBRL or conducted pilot studies with it. The purpose of these interviews was to:
- Describe the technology environments in which XBRL was adopted.
- Identify the challenges organizations faced and how they addressed them.
- Determine the processes they used.
- Determine for what purposes XBRL is being used.
- Determine the long-range plans of the organizations with regard to further implementation of XBRL.
- Assess the training needs and programs of adopters.
- Conduct a comprehensive review of existing guidance on XBRL and its implementation and summarize the current status of XBRL and its use.
- Map out a simply and clearly explained “best practices” approach to the implementation of XBRL to serve as practical assistance in implementation projects, and
- Formulate recommendations on the use of XBRL in terms of when it should be used, how its implementation should be organized and any strategic considerations involved.
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