The Use of XBRL Creates Some Risk Exposures for Organizations;

question 12

Essay

The use of XBRL creates some risk exposures for organizations; those risk exposures should be addressed via various forms of internal control.Use the COSO internal control framework to develop a plan specific to the risks associated with XBRL.Ensure that you discuss all five elements of the COSO framework.

---

Definitions:

Script Virus

A type of malware that is executed through a scripting language, capable of infecting multiple files and spreading across networks.

Encryption Virus

A malicious program that searches for common data files and compresses them into a file using a complex encryption key, thereby rendering the files unusable.

Macro Virus

A virus that’s distributed by hiding it inside a macro.

Polymorphic Virus

A virus that changes its virus signature (the binary pattern that makes the virus identifiable) every time it infects a new file. This makes it more difficult for antivirus programs to detect the virus.