Assurance services executive committee issues white paper on modernizing business reporting.

Transparency in financial reporting is improved through the use of XBRL and an enhanced business reporting model that takes into account non-financial factors contributing to a company's value, according to a white paper produced by the AICPA's Assurance Services Executive Committee.

The paper, The Shifting Paradigm in Business Reporting and Assurance, asserts that both private and public companies would benefit by adopting XBRL and Enhanced Business Reporting. XBRL, a key enabler of an enhanced business reporting model, has been embraced by the Securities and Exchange Commission, which is expected to mandate it for public filings.

The white paper explores the following topics:

* The forces of change impacting the current state of reporting and assurance.

* Efforts...

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