In this research, the respondents were based on Baldwin, Brown and Trinkle's (2006) criteria of respondents who are affected by XBRL adoption.
XBRL is yet to be adopted by organisations in Malaysia as none of the Malaysian Public Listed Companies (PLCs) have taken to the XBRL reporting format (Ilias and Ghani, 2015).
Currently there is no unified XBRL classification standard in China, so the users do not know whether the information is audited by the auditor or not; Although the operational risk of the input is reduced, while the network security is very important; XBRL implementation cost is high including cost for purchasing a large number of office computers, equipping with a high performance web server, setting of the large database management system and developing of suitable XBRL instance document converter.
XBRL instance document can be stored in the corresponding accounting data resource pool with the application of cloud computing technology using XBRL classification standard of China.
Using Inline XBRL, there can be benefits, such as: lower filing preparation costs; improved quality of structured data; and more use of XBRL data by investors, according to the SEC.
The SEC also announced that the EDGAR--Electronic Data Gathering, Analysis, and Retrieval--system was upgraded to make it easier to use Inline XBRL. An updated EDGAR Filer Manual specifies technical requirements needed for filers to begin using Inline XBRL.
Yet filers continue to make XBRL
mistakes, which may not only expose them to scrutiny from the SEC and Congress, but may also result in inaccurate financial data that misleads investors or alienates analysts.
To better understand why firms adopt XBRL
at different levels, we included a series of statements about the perceived benefits of using XBRL
, the external pressures to use XBRL
, and how the organization learned about XBRL
(see Table 8).
The ensuing discussion provides a brief overview of the XBRL
tagging process and implementation; it also considers risks, internal controls, compliance considerations, and some best practices for XBRL
submissions by publicly held companies.
Fujitsu has been part of the XBRL
Consortium from its inception and has actively led several initiatives within the consortium across the globe, contributing significantly in the development and adoption of XBRL
markup rules allow a motivated individual to identify the concepts presented in an instance document, but the tags, attributes, and values are designed to interact with computers using XBRL-aware software.