ISSN: 2222-6990
Open access
Corporate Transparency is becoming more prevalence nowadays, thanks to the advancement of the Internet that provides a platform for fast dissemination of corporate good standing. The corporate good standing is a public domain record that contributes to business decision making as well as input for national economic narration. However, as the data is freely distributed online, it is prone to unauthorized alteration or illegitimate manipulation. With recent innovation of Extensible Business Reporting Language (XBRL) and Blockchain technology, public domain information such as corporate standing can now be protected from illegal changes, maintaining the integrity and availability of such information online. The challenge is how to ensure the distribution of XBRL content to a decentralized peer-to-peer network while maintaining the authority of the government towards the whole data.
This paper aims to explore the suitability of integrating XBRL and blockchain technology within the Malaysian context.
Beerbaum, D. (2018). Blockchain A Business Case for XBRL: A Beast or a Lame Duck? SSRN Electronic Journal, 1–9. https://doi.org/10.2139/ssrn.3174431
Colgren, T. D. (2018). XBRL, BLOCKCHAIN, AND NEW TECHNOLOGIES: A focus on innovative solutions and core competencies in technology and analytics is a must for management accountants. In Strategic Finance (p. 62).
Companies Act 777 (2016). Suruhanjaya Syarikat Malaysia. Retrieved from
https://www.ssm.com.my/acts/fscommand/CompaniesAct.htm
Deloitte & Touche Wirtschaftsprüfungsgesellschaft. (2016). Blockchain Technology A gamechanger in accounting? Deloitte. Retrieved from
https://www2.deloitte.com/content/dam/Deloitte/de/Documents/Innovation/Blockchain _A game-changer in accounting.pdf
Drew, J. (2017). Real talk about artificial intelligence and blockchain. Journal of Accountancy, 1– 7.
IXBRL. (2006). Extensible Business Reporting Language (XBRL) 2.1 RECOMMENDATION - 200312-31 + Corrected Errata - 2005-11-07.
Karajovic, M., Kim, H. M., & Laskowski, M. (2019). Thinking Outside the Block: Projected Phases of Blockchain Integration in the Accounting Industry. Australian Accounting Review,
(November), 1–12. https://doi.org/10.1111/auar.12280
Lo, S. K., Xu, X., Chiam, Y. K., & Lu, Q. (2018). Evaluating Suitability of Applying Blockchain. Proceedings of the IEEE International Conference on Engineering of Complex Computer
Systems, ICECCS, 2017–Novem, 158–161. https://doi.org/10.1109/ICECCS.2017.26
Oh, J., & Shong, I. (2017). A case study on business model innovations using Blockchain:
focusing on financial institutions. Asia Pacific Journal of Innovation and Entrepreneurship,
11(3), 335–344. https://doi.org/10.1108/apjie-12-2017-038
Wu, J., & Vasarhelyi, M. A. (2004). Business Intelligence Techniques, (April 2015).
https://doi.org/10.1007/978-3-540-24700-5
Online Newspaper Articles
NST, N. A. M. (2018, September 27). Mandatory for companies to submit their documents to SSM via new platform soon.
Https://Www.Nst.Com.My/News/Nation/2018/09/415468/Mandatory-Companies-SubmitTheir-Documents-Ssm-New-Platform-Soon, pp. 9–12. Retrieved from
https://www.nst.com.my/news/nation/2018/09/415468/mandatory-companies-submittheir-documents-ssm-new-platform-soon
Conference
Yahaya, K. (2018). Session 6 Reporting in the age of Disruption?: XBRL Adoption in Malaysia and Around the World. In Reporting in the Age of Disruption?: XBRL Adoption in Malaysia and Around the World.
In-Text Citation: (Wahab, 2019)
To Cite this Article: Wahab, Z. A. (2019). Integrating XBRL and Block Chain to Improve Corporate Transparency Integrity and Availability in Malaysia. International Journal of Academic Research in Business and Social Sciences, 9(6), 1194–1201.
Copyright: © 2019 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode