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Attesting Adios! Airways' XBRL Filings: A Case Study on Performing Agreed-upon Procedures

Author

Listed:
  • Stephanie Farewell
  • Roger Debreceny

Abstract

On 30 January 2009, the Securities and Exchange Commission (SEC) released Rule 33--9002. This rule phased in the required use of XBRL. The accuracy of mapping financial statement line items to the US GAAP taxonomy and the tagging of the financial statement facts are of fundamental importance to the accuracy of the XBRL instance document. Currently, there is no requirement for separate assurance on XBRL filings. However, given the significance of the information made available, firms may find it desirable to obtain attestation services. This case provides students with an agreed-upon procedures engagement plan based upon SOP 09--1 ‘Performing Agreed-Upon Procedures Engagements that Address the Completeness, Accuracy or Consistency of XBRL Tagged Data’ released by the Auditing Standards Board in 2009. Students assume the role of an engagement manager and complete an agreed-upon procedures engagement for the quarterly financial statements of Adios! Airways Inc. The case is of general application to an international setting.

Suggested Citation

  • Stephanie Farewell & Roger Debreceny, 2012. "Attesting Adios! Airways' XBRL Filings: A Case Study on Performing Agreed-upon Procedures," Accounting Education, Taylor & Francis Journals, vol. 21(2), pages 131-160, November.
    • Handle: RePEc:taf:accted:v:21:y:2012:i:2:p:131-160
    DOI: 10.1080/09639284.2011.605557
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