The overarching role of the AICPA’s Business Reporting Assurance & Advisory Services (BRAAS) team is to provide oversight, direction, project management, and visioning for emerging business reporting and assurance issues and initiatives that are identified and developed through input from AICPA members, committees, and staff. 

The BRAAS Team is currently working on three major initiatives that support the Team’s goals related to business reporting and assurance: 

• eXtensible Business Reporting Language (XBRL) is a universal format for exchanging financial and business reporting data and has been identified as a revolutionary tool for enabling and improving business reporting. The AICPA is developing tools and education to assist members with XBRL adoption and implementation.

• Enhanced Business Reporting (EBR) is focused on improving business reporting by developing an internationally recognized, voluntary framework for presentation and disclosure of value drivers, non-financial performance measures, and qualitative information.

• The Assurance Services Executive Committee (ASEC) purpose is to address the needs of all AICPA members in all areas of practice or business who prepare or attest to information not covered by other authoritative standards.  The ASEC is focused on:
  
  
  • Filling voids in providing assurance on information as it moves through the entire business information supply chain, covering both internal and external reporting and
     
  • Developing practice guidance that will assist CPAs in industry, government, or public practice in implementing new assurance methodologies and services.