With the growing demand to verify XBRL based data, you will soon be asked to ensure that your clients comply with all aspects of the SEC XBRL
mandate or to conduct in depth assurance engagements under AICPA’s SOP 09-1 (Agreed Upon Procedures).
What questions will your clients ask you?
Completeness: Is all required information formatted per speci cation and is the XBRL complete?
Accuracy: Are the amounts, dates, and other attributes in the XBRL filing consistent with the source document?
Mapping: Are the elements selected in the XBRL filing consistent with the associated concepts in the source document?
Structure: Are the XBRL files structured in accordance with the requirements of the entity’s reporting environment?
The limited liability provision for XBRL is expiring. You can ease your clients’ concerns by using Rivet’s
Dragon View and CoreFiling’s Magnify to review, verify, and validate XBRL data, free of technical complexity. Provide the value-add expertise your
client base needs: verify the actual XBRL files, enhance the existing review process with their XBRL vendor of choice, and create external review and
veri fication documentation.
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