Outline
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Search Engines for Extracting, Managing, and Analyzing Knowledge from the SEC Filings in XBRL and Beyond Rajendra P. Srivastava Ernst & Young Professor and Director E&Y Center for Auditing Research Adv. Technology 13th World Continuous Auditing & Reporting Faculty of Economics, University of Via Voltapaletto, 11, Ferrara (Italy), June 15-16, 2007
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Search Engines for Extracting, Managing, and Analyzing Knowledge from the SEC Filings in XBRL and Beyond. Rajendra P. Srivastava Ernst & Young Professor and Director E&Y Center for Auditing Research Adv. Technology 13th World Continuous Auditing & Reporting Faculty of Economics, University of - PowerPoint PPT Presentation
Transcript of Outline
Search Engines for Extracting, Managing, and Analyzing Knowledge
from the SEC Filings in XBRL and Beyond
Rajendra P. SrivastavaErnst & Young Professor and Director
E&Y Center for Auditing Research Adv. Technology
13th World Continuous Auditing & Reporting
Faculty of Economics, University of Via Voltapaletto, 11, Ferrara (Italy),
June 15-16, 2007
Outline Background of FRAANK (Financial Reporting and
Auditing Agent with Net Knowledge)
Current Features of FRAANK 2.1
Knowledge Extraction by FRAANK from SEC Filings
Role of FRAANK 2.1 in Creating Empirically Based Industry Specific Taxonomies
Live Demonstration
SEEK_INF (Search Engine for Extracting Knowledge from Industrial Filings)
Background of FRAANK
Spring 1996: FRAANK was born to Capture 10Ks and 10Qs from SEC Edgar database Parse BS, IS and CF to create electronic Documents
2001: Adopted to XBRL Taxonomy 1.0 2002-06: Text Parsing, Tagging, and Display
Items on 10K and Footnotes to FS Auditor’s Report Intelligence to find Auditor, Place, Date, and Type
2005-07: Moved to XBRL Taxonomy 2.1 2007: FRAANK 2.1
Academic Publications on FRAANK (http://www.eycarat.ku.edu)
2000: Nelson, Kogan, Srivastava, Vasarhelyi, Lu. Virtual Auditing Agents: The EDGAR Agent Challenge, Decision Support Systems (28) 3: 241-253.
2002: Bovee, Ettredge, Srivastava, Vasarhelyi. Does the Year 2000 XBRL Taxonomy Accommodate Current Business Financial Reporting Practice?” Journal of Information Systems, Vol. 16, No. 2, Fall: 165-182.
2005: Bovee, Kogan, Srivastava, Vasarhelyi, Nelson. Financial Reporting and Auditing Agent with Net Knowledge (FRAANK) and eXtensible Business Reporting Language (XBRL). Journal of Information Systems, Vol. 19, No. 1 (Spring): pp. 19-41.
Current Features of FRAANK 2.1
Uses XBRL 2.1 Taxonomy (Calculation Tree) Parses BS, IS, CF in 10Ks and 10Qs and tags them
using XBRL 2.1 Creates KU_Tags for items not found in XBRL
2.1 Creates a database of line items identified as
not having XBRL 2.1 tags Parses Non-Financial Information in 10K
Items, Footnotes, Audit Report, SOX 404 Report Identifies auditor, place, date, type, and tags using
XBRL 2.1 Identifies Effective & In-effective SOX 404 Report
Questions!
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