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Abstract

This study investigates the perception of accountants and auditors on the impact of XBRL adoption in Malaysia. This study also examines the possible challenges and strategies for XBRL adoption success. Using questionnaire survey, this study show that the accountants and auditors perceived the impact of XBRL adoption would be on business decision-making, regulatory compliance, continuous reporting, financial reports availability and analysis, and continuous auditing. This study also shows that lack of accounting qualification and lack of training are among the challenges for XBRL adoption in Malaysia. The implication of this study is that the accountants and auditors need to be given exposure on XBRL taxonomies and voluntarily filing programs. This study provides understanding to the government, regulators and standard setters on strategizing the initiative programs on voluntarily adopting XBRL in future. This would reduce the negative perception on the challenges that might be faced by the accountants and auditors prior to XBRL adoption.

Keywords: XBRL, Accountants, Auditors, Perception, Impact, Challenges, Strategies, Malaysia

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