Internal control risks associated with XBRL include:
A)Compromised data.
B)Tagging errors.
C)Both compromised data and tagging errors.
D)Neither compromised data nor tagging errors.

Question

Quizplus · Accepted Answer

XBRL involves electronic tagging of financial data, which increases the risk of tagging errors. Additionally, with the use of technology and various software, there is a risk of data being compromised through hacking or other security breaches. Therefore, both tagging errors and compromised data are internal control risks associated with XBRL.

Internal Control Risks Associated with XBRL Include