Establishment of Continuous Business Auditing Model in XBRL Environment

Liu Lei

COMPUTER MODELLING & NEW TECHNOLOGIES 2014 18(12C) 864-867

School of Economics, Wuhan University of Technology, Wuhan City, Hubei Province, China, 430070

XBRL technology enjoys great application prospect by enterprises and plays an important role in their business development. A deep analysis on the content and application range of XBRL was conducted in this paper. Effect of XBRL on enterprise operation and management was analyzed, mainly including higher operation standardization, higher data normalization, internal information systematization and data sharing. Later, based on characteristics and advantages of XBRL, a continuous business auditing model was established using trend analysis approach from financial and non-financial indexes. Due to the XBRL technology, the established model can acquire related indexes automatically and implement fundamental data computation and analysis. Model results can be reflected quickly. To safeguard flexibility and timeliness of the model, enterprises are suggested to keep indexes updating upon development, update XBRL technology in time, improve audit analysis and evaluation capacities of auditors, as well as enhance mutual dependence between obligation and rights of auditing department and other departments.