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ASB issues attest interpretation for engagements XBRL instance documents.

The Audit Issues Task Force of the AICPA's Auditing Standards Board has issued a new interpretation of Chapter 1, "Attest Engagements," of Statement on Standards for Attestation Engagements No. 10, Attestation Standards: Revision and Recodification. The interpretation is titled Attest Engagements on Financial Information Included in XBRL Instance Documents.

XBRL the business reporting aspect of the eXtensible Markup language (XML), makes it possible to store or transfer data, along with complex process, data processing hierarchies and descriptions that enable analysis and distribution. An XBRL Instance Document provides financial information in a machine-readable format. Through the XBRL tagging process, a mapping of the financial information is created that enables users to extract specific information, thereby facilitating analysis.

The new attest interpretation defines the terms XBRL and XBRL Instance Document and describes the practitioner's considerations when he or she has been engaged to examine and report on whether an XBRL Instance Document accurately reflects certain client financial information. It also provides example examination reports. The interpretation can be found on our Web site at announce/XBRL_09_16_03_FINAL.htm.
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Title Annotation:accounting & auditing news; Auditing Standards Board
Publication:CPA Letter
Article Type:Brief Article
Geographic Code:1USA
Date:Nov 1, 2003
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