Continuous Reporting & Auditing Software Products Charles Hoffman,

Continuous Reporting & Auditing Software Products Charles Hoffman,

Continuous Reporting & Auditing Software Products Charles Hoffman, CPA XBRL Solutions, Inc. My Background 2 Business school, accounting degree

Previously auditor with Price Waterhouse Financial officer for 15 years Accounting software consultant Dreamed up this XBRL thing and started the process Perspective In times of change learners inherit the earth, while the learned find themselves beautifully equipped to work in a world that no longer exists. Eric Hoffer 3 Objectives

4 Communicate some concepts Provide information relating to tools XBRL Solutions, Inc. is building Concepts

5 Everyone connected, high bandwidth XML/XBRL everywhere Intelligent Agents: authority and autonomy World Class Manufacturing Everyone connected, high bandwidth 6

Done deal Five years or less Intense competition driving this XBRL/XBRL Everywhere 7 Cisco already has the daily close

FDIC wants to have real time bank examinations Company wants to have electronic reporting of 300 mutual funds, rather than paper-based to save money NCCS wants to stop keying in data for 250,000 organizations at a cost of $5,000,000 per year Company wants to consolidate 300 different subsidiaries on 100 different accounting systems What do you want to do better, cheaper or faster? Intelligent Agents Now a majority of cost relates to data discovery and re-keying Data Mechanics Data Analysis

Discovery (Re-keying data) With XBRL cost can be redirected to analysis Data D.D. Mechanics Analysis With XBRL, Intelligent Agents total costs are reduced, Data D enhanced analysis Analysis M *Bars represent component cost, total bar length represents total costs

8 World Class Manufacturing 9 JIT (Just in time) problem diagnosis and problem solving as a way of life

TQC (Total quality control) do it right the first time TPM (Total preventative maintenance) preventative maintenance done daily Reduced setup time, preferably zero Reduced lead time, preferably none Reduced batch sizes, preferably one Pull-based manufacturing, rather than push-based Tools Text Credit Application

+ Banks Text Report + Text Regulatory Filings EDGAR (Text)

10-K Report GL Report + + + +

+ Statements in Print Statement in PDF C of A Operational Data Stores +

Statement on Web Internal to entity 11 Text External (Investors, creditors, regulators, etc) Auditor Overview of Process Electronic audit working papers, electronic audit wizards, electronic analysis wizards

10-K Operational Data Stores Data 12 Data extraction software Electronic,

scriptable closing book Process Financial Statement Creation expert system Financial Statement Web Site

Result Data Extraction 13 ODBC Data Junction ACL (Audit Control Language) Audit Wizard

14 Closing Book 15 Financial Reporting Expert System 16 Questions?

Recently Viewed Presentations

  • COBOL Concepts - Columbus State University

    COBOL Concepts - Columbus State University

    READ MY-INPUT-FILE AT END MOVE 'NO' TO MORE-RECS END-READ This is a locate-mode read and the most efficient way to read records File Reading READ MY-INPUT-FILE INTO MY-REC AT END MOVE 'NO' TO MORE-RECS END-READ WRITE This is a move-mode...
  • Trashketball Review!

    Trashketball Review!

    Trashketball Review! The Rules! Divide into teams When the first group is picked, you will pick ONE person to answer the question. You may discuss as a group…quietly! For a correct answer, you get one point.
  • Chapter 8 Life at the Turn-of-the-20th-Century

    Chapter 8 Life at the Turn-of-the-20th-Century

    Chapter 8Life at the Turn-of-the-20th-Century. Summary. SECTION 1. SECTION 2. SECTION 3. SECTION 4. Science and Urban Life. Expanding Public Education. Segregation and Discrimination. The Dawn of Mass Culture. New technologies improve urban living, and a modern mass culture emerges....
  • DfE Template (Arial) v1.0 April 2012

    DfE Template (Arial) v1.0 April 2012

    Dominic Herrington . Regional Schools Commissioner for South East and South London. November 2015. We face some big challenges in our education system. Challenge 1: Progression for the most vulnerable children . Challenge 2: Making sure that our most able...
  • An Exploratory Study of Youth Exhibition Experiences in ...

    An Exploratory Study of Youth Exhibition Experiences in ...

    This study examined the extent to which the following factors influenced the youth exhibition experience and perceptions of life skill development in a livestock project. Youth's view of competition. Sources of livestock knowledge. Youth-adult interactions. Youth's motives for exhibiting livestock...
  • Cell Communication -

    Cell Communication -

    Cell Communication (Chpt. 11) Chapter 11 Overview of Cell Signaling Signaling evolved early in history of life Communicating cells may be close together or far apart 3 stages of signaling are: reception, transduction, and response Communicating cells Signal Reception and...
  • Quine: On What There Is

    Quine: On What There Is

    Example: Physicalism or Phenomenalism. Here we have two competing conceptual schemes, a . phenomenalistic. one and a . physicalistic. one…Each has its advantages…the one is epistemologically, the other physically, fundamental.
  • Diapositive 1 - الموقع الأول للدراسة في ...

    Diapositive 1 - الموقع الأول للدراسة في ...

    Anergie . La tolérance centrale : Seuls les lymphocytes B qui ont un récepteur fonctionnel reçoivent des signaux de survie (sélection positive). Cette étape est marquée par une diminution significative des auto-Ac (75-40%) et des Ac polyréactifs. Cependant le mécanisme...