XBRL Mandate and Timeliness of Financial Reporting: The Effect of Internal Control Problems

Seokyoun Hwang, Won Gyun No, Jongkyum Kim

Research output: Contribution to journalArticlepeer-review

12 Scopus citations


Extensible Business Reporting Language (XBRL) is intended to make analysis easier and faster by enhancing the exchange of financial information. Such benefits from this global reporting standard would stem from more timely, accurate, and transparent financial reporting. This article investigates whether internal control weaknesses (ICWs) in firms have an impact on the timeliness of financial reporting in XBRL format. The results of our analyses show that the filing lags of firms with ICWs are longer than those of firms without ICWs for their first detail tagged XBRL disclosure. The results also reveal that firms with ICWs are more likely to use the grace period in their initial XBRL disclosures. The length of the grace period used by firms with ICWs is longer than that of firms without ICWs. Furthermore, our additional analyses reveal that the XBRL mandate has affected firms’ filing behaviors differently depending on firm characteristics such as firm size. Overall, our findings indicate that the impact of ICWs on the timeliness of financial reporting is greater under the mandated XBRL disclosure.

Original languageEnglish
Pages (from-to)667-692
Number of pages26
JournalJournal of Accounting, Auditing and Finance
Issue number3
StatePublished - Jul 2021


  • XBRL
  • control deficiencies
  • filing delays
  • internal control


Dive into the research topics of 'XBRL Mandate and Timeliness of Financial Reporting: The Effect of Internal Control Problems'. Together they form a unique fingerprint.

Cite this