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Warsaw, .
APPLYING XBRL TO THE AUDIT DATA COLLECTION STANDARD – ISO PC/295 29 May 2018
Kristine BrandsRegis UniversityDenver, CO USA
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AGENDA
• ISO PC/295 – Global Audit Data Collection Standard
• Background
• PC/295 Standard Specification
• The Missing Link
• XBRL Connection and Opportunity
• Questions/Discussion
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Slide 3© 2018
ISO/PC 295 ORGANIZATIONAL STRUCTURE
PC
WG
U.S. TAG
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ISO/PC 295 ON AUDIT DATA COLLECTION
Slide 4© 2012
―France―Mali―Austria―Bulgaria―United Kingdom―Mexico―Germany―Denmark―Estonia―Portugal―Argentina
─United States
─Canada
─Romania
─Russian Federation
─Japan
─Kuwait
─Belgium
─Nepal
─Netherlands
─Indonesia
─ Malaysia
◼ Scope: Audit Data Collection provides a specification for auditors to obtain accounting data, including content and format requirements of accounting data elements and data interface output files.
─Pakistan
─South Africa
─China
─Finland
─Sweden
─Singapore
─ Thailand
▪ Participating Members (18)─ Korea, Republic of─ Saudi Arabia─ Zimbabwe─ Israel─ Norway─ Switzerland─ Slovakia─ Spain─ Italy─ Czech─ Republic
▪ Observing Members (22)
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CHINA’S GOLDEN AUDIT AND AICPA’S AUDIT DATA STANDARDS
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ISO PC/295•This document provides information necessary to extract relevant data from accounting and ERP systems to conduct audit procedures. It applies to a general industry model and covers the areas of General Leger, Sales, Accounts Receivable, Purchases, Accounts Payable, Inventory, Property Plant and Equipment, and Tax
•The purpose of this document is to improve the accessibility of audit data, and to enable auditors to focus their attention on analyzing the data obtained.
•This document establishes common definitions of accounting data elements to bridge understanding between the auditor, auditee, software developers and IT professionals; and to create a mechanism for expressing the information, common to accounting, in a manner independent of accounting and ERP systems. This document can serve as a foundation for local data extraction efforts.
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AUDIT DATA COLLECTION STANDARDS TABLE OF
CONTENTS
• Scope
• Normative References
• Terms and Definitions
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AUDIT DATA COLLECTION STANDARDS TABLE OF
CONTENTS
.
Modules(*), Files and Fields (4):
4.1 General: Data diagrams and guide to
understanding tables
4.x.1 Module background
Tables
Profiling Report: Guidance to support
complete and accurate data exchange
Data Questionnaire: Standard questions to
supplement data
(*)Base, General Ledger, AR, Sales, AP, Purchase, Inventory, PPE, Tax
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THE BUSINESS FLOW OF ADCS MODULES
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THE RELATIONSHIP OF TABLES INCLUDED WITHIN THE ACCOUNTS RECEIVABLE, SALES
AND BASE MODULES.
SAL_Invoices_Generated
AR_Cash_Application
AR_Cash_Received
AR_Open_Accounts_
Receivable
AR_Adjustments
AR_Adjustments_Details
Customer_Account_ID
Invoice_ID
Receipt_ID
Customer_Account_ID
Invoice_ID
Adjustment_ID
Customer_Account_ID
Invoice_ID
BAS_Project
BAS_User
BAS_Accounting_Period
BAS_CustomerCustomer_Account_ID
Project_ID
User_ID
Accounting_Period
ARTable in Base
Table in AR
Table in Sales
L1
L1
L1
L1
L1
L1
L1
L1
L1
L1
Customer_Account_ID
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KEY TABLES AND FIELDSTo create the greatest flexibility, we have created a process for capturing key organizational elements
The information is captured within the following tables
Tables where key structures will be used contain the following place holder field
No Name DatatypeRepresent
ationDescription Level
1 Unique BS ID String %25s Identifier that is unique for each business segment. 12 Segment Name String %25s Name of the business segment. 1
3 Segment Reference Level String %2cRelative level of the segment with 1 being the consolidated level and numbers increasing through lower levels.
1
4 Organizational Name String %60sIndicate the name of the organization type, can fill in Department, Business Unit, etc.
1
Table 2 - Business Segment Master Table
No Name DatatypeRepresent
ationDescription Level
1 Parent ID String %25s Related business segment ID 12 Child ID String %25s Related business segment ID 1
Table 3 - Business Segment Relationship Table
7 Business_Segment_X String %60sReserved field that can be used for business segments / structures. One number for each unique reference level.
2
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ISO PC/295 EXAMPLE TABLE: GL_DETAIL
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THE STANDARD - SYNTAX
<salesOrder><salesOrderID>abc7-qdr2-3s</salesOrderID><salesOrderNumber>789</salesOrderNumber><salesOrderDate>2016-11-06</salesOrderDate><customerAccountID>jdf-234-aq</customerAccountID><salesOrderLocalAmount currencyCode="USD"
minorUnit="2">1620.00</salesOrderLocalAmount>
"salesOrder": {"salesOrderID": "abc7-qdr2-3s","salesOrderNumber": "789","salesOrderDate": "2016-11-06","customerAccountID": "jdf-234-aq","salesOrderLocalAmount": {"-currencyCode": "USD","-minorUnit": "2","#text": "1620.00"
},
abc7-qdr2-3s|789|2016-11-06|jdf-234-aq|USD|1620.00
<gl-cor:amount contextRef="now" decimals="2" unitRef="usd">1620.00</gl-cor:amount><gl-cor:identifierReference>
<gl-cor:identifierCode contextRef="now"> jdf-234-aq </gl-cor:identifierCode><gl-cor:identifierType contextRef="now">C</gl-cor:identifierType>
</gl-cor:identifierReference><gl-cor:documentType contextRef="now">order-customer</gl-cor:documentType><gl-cor:documentNumber contextRef="now">789</gl-cor:documentNumber><gl-cor:documentReference contextRef="now">abc7-qdr2-3s </gl-cor:documentReference><gl-cor:documentDate contextRef="now">2005-06-15</gl-cor:documentDate>
Delimited text
Custom XML * JSON *
XBRL GL *
* Appendix
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PC 295 AND XBRL
CONNECTION
PC 295 AND XBRL
CONNECTION
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AICPA GL ADS FLEXIBLE DATA FORMAT
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BUSINESS REPORTING SUPPLY CHAIN
The XBRL Business Reporting Supply Chain. Adapted from Improving Business Reporting Through Standardization (PricewaterhouseCoopers, 2004). Adapted with permission http://www.xbrl.org/Business/Companies/PwC_XBRL_Standardization.pdf, p. 11.
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XBRL AND THE GLOBAL AUDIT DATA COLLECTION STANDARD
• Transparent Data Audit Assurance
• Streamlines Audit Processing
• Regulatory Leverage
• Improved Governance
• Continuous Auditing
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CONNECT THE DOTS WITH XBRLCONNECT THE DOTS WITH XBRL
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MISSING LINKS CALL FOR COLLABORATION
• ISO PC/295
• ESMA
• ERP Vendors
• Regulators
• XBRL Europe
• XBRL International
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QUESTIONS AND DISCUSSION ▪.
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CONTACT INFORMATION
Kristine Brands
Associate Professor, Regis University, Denver, CO [email protected]
+1(719)-264-7035
.