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Clinton E. White, Jr (Skip) – U of Delaware skipw@udel

The AICPA Audit Data Standards - Intro & an academic’s perspective - UWCISA Information Integrity & Systems Assurance Toronto - October 2015. Clinton E. White, Jr (Skip) – U of Delaware skipw@udel.edu. The AICPA Audit Data Stds. The ADS:

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Clinton E. White, Jr (Skip) – U of Delaware skipw@udel

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  1. The AICPA Audit Data Standards- Intro & an academic’s perspective -UWCISA Information Integrity & Systems Assurance Toronto- October 2015 Clinton E. White, Jr (Skip) – U of Delaware skipw@udel.edu

  2. The AICPA Audit Data Stds. • The ADS: • Objective: to standardize the format of data fields and files commonly requested for audit and related purposes (AICPA, Assurance Services Executive Committee, 2013) • To improve the communication between auditors, accountants, and IT personnel involved in the request for, and exchange of, a company’s data, as well as, the efficiency of the audit process (ADS Working Group, 2013)

  3. The Audit Data Standards • The challenge for both management & auditors: • Obtaining accurate data in a usable format following a repeatable process • The ADSs: • Facilitate identifying key info needed for audit purposes in a standard format • Facilitate being able to assess its completeness and integrity • The result should be consistent, understandable data & the opportunity for more extensive analysis

  4. The ADSs • Audit Data Standards (July, 2015) • The Base standard: • Basic information about the client’s ERP/AIS, Business units, and System users • The GL standard: • GL details, Trial balance, Chart of accounts, & Source listing • The Order-to-Cash subledger standard: • Customers, Orders, Shipments, Invoices, AR, & Cash • The Procure-to-Payment subledger standard: • Suppliers, POs, Goods recvd., Invoices recvd., AP, & Payments

  5. The Base ADS

  6. The GL ADS

  7. The O2C ADS (part 1)

  8. The O2C ADS (part 2)

  9. The Order-to-Cash Cycle

  10. The Order-to-Cash Cycle • When you consider the Order-to-Cash cycle of your client: • What data would you like to have to investigate the reliability of the processing of orders and the accuracy of the data in their related accounts? • When you request the data that you need, how do you communicate your request to your client? • How do you document your request? • How do you verify that you received what you requested?

  11. ERP/AIS Relational Tables Employees FirstName LastName ContactInfo EmployeeId Departments DepartmentName DeptAddress DepartmentHeadId EmployeeId Title ERPUsers ERPId EmployeeId ActiveStatus StatusModifiedDate Audit Data Standard Table User_Listing User_ID First_Name Last_Name User_Active_Status Title Department

  12. Data Format • What format do you want the data in? • Flat-file format (pipe-delimited): • 12345 | Active | Skip | White | CIO • XBRL GL format: • <gl-cor:identifierCode>12345</gl-cor:identifierCode> • <gl-cor:identifierCategory>systemUser</gl-cor:identifierCategory> • <gl-cor:identifierActive>true</gl-cor:identifierActive> • <gl-cor:identifierContactFirstName>Skip</gl-cor:identifierContactFirstName> • <gl-cor:identifierContactLastName>White</gl-cor:identifierContactLastName> • <gl-cor:identifierContactPrefix>CIO</gl-cor:identifierContactPrefix>

  13. The ADSs • The ADSs: • Adoption is voluntary • Benefits will drive adoption • A company: • Would create routines to extract their data and populate XBRL GL instance documents • Major advantages: • A standard way for internal & external auditors to communicate data needs to the IT staff • Data is extracted in a standard format • A documented, reliable, & repeatable process that will streamline audits

  14. Resources • The AICPA ADS Library: • http://www.aicpa.org/InterestAreas/FRC/AssuranceAdvisoryServices/Pages/AuditDataStandardWorkingGroup.aspx • XBRL.US • http://xbrl.us/Pages/default.aspx • XBRL International: • https://www.xbrl.org/

  15. The future is already here – its just unevenly distributed! William Gibson Thanks for your attention! Skip skipw@udel.edu

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