The Research On Accounting Firm Countermeasures Under XBRL Environment

The rapid development of network technology has brought about an information revolution.This revolution is a landmark in the history of development of information.In the 1960s,a Japanese distinguished scholars TadaoUmesa advanced the word "informatization" for the first time in the world.When the word "informatization" advanced in Japan,it has attracted to many researchers all the world,and then,countries around the world have launched a study of information technology.In the 1990s,the first national information technology working conference in Chinese,the government clearly stated and emphasized the importance of information technology,and calling for the scholars promoting the process of informatization in China.Accounting information is an important application of IT to promote the accounting by the end of the computerization.Similarly,the development of accounting information produces the XBRL(Extensible Business Reporting Language).When we make accounting reports,we need a specification to ensure that the accounting information timeliness,accuracy,reliability.Thus,XBRL came into being.XBRL is advanced by a certified public accountant in the United States Hoffinann et al.When they used the accounting information they found that XML technology can not satisfy the financial reporting requirements for the preparation and audit.So they studied further and advanced the XBRL.With the depth of XBRL research,more and more researchers have found that the advantages of XBRL have to actively join the ranks of the study.With the researchers of the XBRL-growing,they set up an XBRL International organization,and have achieved good results,such as V1.0,V2.0 and V2.1.They provided an XBRL report uniform standards in the world.The emergence of XBRL statements have a huge impact on the accounting firm who providing accounting and auditing services,accounting firms must take effective and feasible measures,in order to cope with these impacts.In this paper,there are six parts which described the impact of XBRL for accounting firms and accounting firms and what countermeasures they have made respectively.The specific contents are as follows:I.Introduction.This section summarizes the background and significance of this study,as well as the sorting of foreign and domestic literature.There are three aspects reviewing the literature to study XBRL three areas respectively:(1)XBRL taxonomies;(2)on the advantages of XBRL application;(3)research on XBRL auditing matters.II.The XBRL theoretical foundation and technical principles.The accounting information is a foundation of XBRL,XBRL is an extension of XML,so this part.describes the basic theory of accounting information and XML,and the Then I describe three key compositions of the XBRL,XBRL standards,classification standards and the instance document.?.The impact of accounting firm.There are three parts of XBRL impact of the accounting firm,the audit process,the firm's own development and business development.The process to auditing refines the auditing mode,technical methods,content,efficiency and risk aspects.The results which affect the firm's own development include:the construction of the XBRL reporting system,the development and risk of the XBRL taxonomy;The development of XBRL has created opportunities for the firm which can make firm providing XBRL consulting and certification services.IV.The XBRL-based accounting firm countermeasures.This section is based on the analysis of the impact of Part ?,the firm has propose two targeted coubtermeasxrres,the process of auditing and the firm's own development.Firms change the process of auditing by continuous auditing practices and XARL;to promote their development through the creation of the XBRL system.V.The case based on ABC accounting firm.This section is a case analysis.In the case,ABC accounting firm make the following strategies with its own conditions,to cope with the impact brought by XBRL:"building a composite team,providing XBRL consulting and forensic service,achieving XBRL by the firm's EIM methodology,participating in the formulation of the XBRL taxonomies.The firms ensure its competitiveness in the market by those several countermeasures;VI.XBRL applications,potential problem analysis and outlook.This chapter analyzes the XBRL applications may increase the cost and gives some corresponding recommendations;Finally,this chapter look into the future of the development of XBRL,that the forensic study of XBRL will be the focus of future work.In summary,this paper is based on the XBRL theory and analyzes the main impact of XBRL accounting firm by citing the cases:the firm's audit process,self-development and new business;There are the main methods to response the impact:using the continuous auditing and XBRL.And the same time,the firm should establish its own XBRL reporting system in order to enhance the competitiveness.