XBRL Extension Taxonomy and Instance Document Creation Process provides an illustration of the data flow and process flow associated with the how a XBRL Extension Taxonomy and an Instance Document is created leveraging XBRL.
XBRL Advocacy: Using a phased-in approach based upon market capitalization, all SEC filers that use U.S. generally accepting accounting principles (U.S. GAAP) and foreign issuers that use International Financial Reporting Standards (IFRS) are required to submit their reports to the SEC using XBRL.
SOC for Cybersecurity
Organizations are under increasing pressure to demonstrate that they are managing cybersecurity threats, and that they have effective processes and controls in place to detect, respond to, mitigate and recover from breaches and other security events.
To address this market need, the AICPA has developed a cybersecurity risk management reporting framework that assists organizations as they communicate relevant and useful information about the effectiveness of their cybersecurity risk management programs. The framework is a key component of a new System and Organization Controls (SOC) for Cybersecurity engagement, through which a CPA reports on an organizations' enterprise-wide cybersecurity risk management program. This information can help senior management, boards of directors, analysts, investors and business partners gain a better understanding of organizations' effort
COSO Proposed Internal Control - Integrated Framework
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released the Internal Control -- Integrated Framework (IC-IF) back in 1992. The organization has now proposed an updated framework and issued an exposure draft.
COSO Sheds Light on Managing Cloud Risks
Before an organization even contracts with a cloud-computing service provider, management should begin control-related activities to guard against the related risks, according to new guidance from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO has developed a detailed analysis of how to use enterprise risk management to mitigate the risks cloud computing presents.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO)
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) was jointly sponsored by five major professional associations in the United States. The Commission, wholly independent of each of the sponsoring organizations, contains representatives from industry, public accounting, investment firms, and NYSE.