Aggregated Real-time Filing Errors (4)

The interactive quarterly timeline graphs below show changes in the total number of errors identified by the Data Quality Committee (DQC) in public company financial reports accepted into the SEC's EDGAR database.

Check out company-specific data quality filing results.

Generally, application of the DQC's freely-available, open-source rules and guidance has resulted in reduction of issues since the collaborative effort of industry stakeholders - filers, filing agents, data providers, academics, standard-setters and member associations - was launched in 2015. An increase in issues identified by each rule commonly corresponds to complexities associated with the annual filling period and/or subsequent revisions to the rule.

Hover over any of the bars to get totals by quarter. To view any chart in full screen, place your cursor over the x-axis (bottom), then click the full screen icon in the lower right corner of the graph. Depending on your connection speed, it may take a minute or two for these real-time graphs to load. Browse more graphs: page 1 || page 2 || page 3 || page 4 || page 5.

The purpose of this rule is to identify incorrect calculation relationships defined in the filer taxonomy. These relationships are an indicator that the filer has selected an incorrect element.

Sibling Child Relationships was initially approved by the DQC July 15, 2019.

 This rule addresses the inconsistencies in filing relative to VIE reporting, where the same facts are reported differently within a filing or across filings. This rule highlights if the filer has used one of these VIE elements so that filings can be consistently reported using the ConsolidatedEntitiesAxis.

Disaggregation by Variable Interest Elements (VIE) was initially approved by the DQC Oct 1, 2019.
This rule addresses the inconsistencies in filing relative to VIE reporting, where the same facts are reported differently within a filing or across filings. This rule highlights where a filer has used a different approach to represent the portion of the financial statements that are attributable to the VIE.

Consolidated Variable Interest Entities was initially approved by the DQC Oct 1, 2019.

 This rule identifies where filers have used tax elements that are no longer applicable because of changes in the accounting standards related to taxation.

Transition Tax Elements was initially approved by the DQC Feb 12, 2020.
This rule identifies 10-K, 10-K/A and 20-F filings where the filer has operating lease liabilities but has not included those operating lease liabilities in the financial statements. In these cases it is expected that the filer would indicate which financial statement line item the operating lease liability is included in.

Breakdown of Operating Lease liabilities across FS Lines Items was initially approved by the DQC Feb 12, 2020.

 This rule identifies where filers have used either OperatingLeaseWeightedAverageRemainingLeaseTerm1 or FinanceLeaseWeightedAverageRemainingLeaseTerm1 with the Range Axis. If these elements are used with any member on the range axis then the rule will flag an error.

Invalid Elements Used On Range Axis was initially approved by the DQC October, 2017.
This rule is intended to identify cases where a company’s cash flow includes discontinued operations as a summation-child to the periodic change in cash and cash equivalents (summation-parent), but the calculation tree does not include continuing operations as a summation-child.

Incorrect Calculation of Lease Liability Payments Due was initially approved by the DQC Feb 12, 2020.

 This rule identifies where filers have used a percentage item type (as defined in the US GAAP taxonomy) with a value that is greater than the value of 10.

Invalid Value for Percentage Items was initially approved by the DQC Jul 15, 2020.
This rule identifies where filers have used a positive value for an item that should be negative. The rule consists of two sub components.

IFRS Non-Positive Items (IFRS Only) was initially approved by the DQC Jul 15, 2020.

 This rule identifies where the values of a durational element for a series of periods of time do not aggregate to the value representing the aggregated period in the instance.

Durational Aggregation (IFRS only) was initially approved by the DQC Jul 15, 2020.

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NOTE: As these are real-time, the most recent quarter should not be considered as indicative of a trend.

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