Using XBRL Creates Some Risk Exposures for Organizations; an Effective

question 41

Essay

Using XBRL creates some risk exposures for organizations; an effective tool for managing risk exposures is the risk/control matrix.Using the format discussed in the text, create a risk/control matrix for the risk of XBRL tagging errors.

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Definitions:

Midpoint Transition

A phase or moment of change in the middle of a process or project, often involving a shift in strategy, focus, or objectives.

Behavioural Scientists

Researchers and practitioners who study the interactions and behaviors of humans and animals within their environments.

Organizational Charts

Visual representations that illustrate the structure of an organization, showing relationships and ranks of jobs.

Punctuated Equilibrium

A theory originally from evolutionary biology, applied to organizational change, suggesting that long periods of stability are interrupted by brief phases of significant change.