Extensible business reporting language or XBRL is an open standard that supports information modelling and the expression of semantic meaning normally essential in business. XBRL is related to XML. One of the important uses of XBRL is to identify and exchange financial information like a financial statement. This standard is related to the communication between business and financial information. “It is a language for the electronic communication of business and financial data, which is revolutionizing business reporting around the world” (Introduction to XBRL). XBRL allows the financial community to communicate in a worldwide language. It reduces the need to incorporate unequal database applications for unit-wide settlement and consolidation purposes. The important factors using XBRL as the efficiency of the process, simplicity of information and the important cost savings come together with distribution and analysis. In an organization, the important responsibility of management is to verify the correct and absolute financial statement. This duty is done on the basis of XBRL. The systematic information of XBRL is interactive because it arranged the method of representing internal and external reports. The internal auditor provides very help to the achievement of XBRL. They recognize reporting format, directive requirements etc. In September 2008, a survey was conducted to explain the internal auditors’ contribution to XBRL. The important suggestions that affect the applications of XBRL are the following;  1. The movement from physical to computerized processes.  2. It can able to access the more efficiently and incorporate data.  3. The concept of business policies that can be applied large collection of software applications.  4. Lower-cost working surroundings. XBRL is considered an important device of the audit. That means improving the estimation of risk and can easily access the data and analysis. The use of continuous auditing and monitoring is very fast. Develop information about the area of audit resources through the external audit manual. “Facilitating consumer-oriented reporting and the creation of customized dashboards for specific groups of information consumers (for example, company audit committee, the management, or external auditors)” (XBRL as an Audit Tool and Aid). XBRL business reporting XBRL is an XML based mark up language used for the sharing of business and financial data electronically. It gained support and assistance from the United States Securities and Exchange Commission (SEC) as well as from the European Parliament. XRBL is objected to minimizing the costs by way of removal of time-consuming and error-prone human interaction. The XRBL tags are capable of increasing the speed of the data integration and transmission, and it is free from data redundancy and quality issues. Through the adoption of XBRl, financial institutions will be capable of complying with the existing and future regulations by applying comfortable and affordable tools. XBRL is a global non-profit consortium consisting of more than 550 major companies, organizations as well as government agencies. It is developed with the intention of facilitating business intelligence automation