eXtensible Business Reporting Language Data Assurance Challenges and Strategic Approaches: A Study in the Malaysian Business Reporting System Context

Document Type : Research Paper

Authors

1 Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia; Department of Accounting, Universiti Kuala Lumpur Business School, Malaysia.

2 Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia; Faculty of Business, Sohar University, Oman.

3 College of Business Administration, Universiti Tenaga Nasional, Malaysia.

4 Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Malaysia.

5 Department of Accounting, Universiti Kuala Lumpur Business School, Malaysia.

10.22059/jitm.2024.98619

Abstract

The eXtensible Business Reporting Language (XBRL) functions as an independent, open platform that facilitates efficient information transmission over the Internet, improving business information utilization. Despite its widespread adoption and numerous benefits, unresolved assurance issues undermine its effectiveness, revealing a significant research gap. This study explores the complex landscape of XBRL data assurance challenges within the Malaysian Business Reporting System (MBRS). Utilizing a qualitative case study methodology, the research highlights key challenges in XBRL data assurance and presents strategic, innovative solutions. Through semi-structured interviews and document analysis, insights from diverse stakeholders are captured, revealing the development of artificial intelligence-enhanced audit software aimed at improving the quality of XBRL filings in Malaysia. Despite its potential, awareness of this advanced software among preparers remains disappointingly low. This research serves as a valuable resource for practitioners and researchers, offering an in-depth analysis of XBRL data assurance challenges and pioneering solutions, thereby making a significant contribution to this critical field.

Keywords

References

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Journal of Information Technology Management
Volume 16, Issue 3
2024
Pages 173-191

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