The Research On XBRL-based Continuous Auditing

The rapid development of science and technology promotes the economic booming, and directly leads to reforms of the relevant industrial chain. As a result of the increasing commercial competition, the industrial chain of accounting becomes more and more complex, and the potential risks and uncertainties become more and more difficult to estimate. Auditing, as a key link to the chain, has been constantly looking for new development modes. The XBRL-based continuous auditing is a real-time, intellectual, standardized auditing mode, which can provide decision-making support of higher quality to those who need accounting information.In this paper, the basic theories of the XBRL-based continuous auditing has been reviewed, and the necessity of implementing the XBRL-based continuous auditing is then elaborated, in terms of quality benefit and economic efficiency. Also, the applicability of the XBRL-based continuous auditing framework is investigated on two distinct levels: system architecture and quality control. Based on theoretical analysis above, an XBRL-based continuous auditing model is designed for the Tongbao Energy Company, including audit process and audit model of Rezaee. Moreover, for the further improvement of the XBRL-based continuous auditing, the present paper suggests development of the auditing software, establishment of the relevant regulations, and maintenance of information exchange safety.