- Movement of Concepts between calculation trees
- This rule identifies inappropriate calculation descendants of investing, financing or operating items in a company’s calculation relationships defined in the Statement of Cash Flows.
- It is not expected for cash flow elements to be moved between cash flow categories.
- Element Values Are Equal
- This rule tests that the values reported between element relationships that are identified as accounting relationships are consistent within the filing.
- For example, the value for Assets equals the sum of the values of Liability and Equity.
- Invalid Value for Percentage Items
- This rule identifies where a filer has used a percentage item type with a value that is greater than 10.
- It is expected to be uncommon for a fact value for a percentage item to be greater than 10. This rule helps to identify these possible scaling issues.
- Axis With Inappropriate Members
- This rule tests whether axes within the IFRS taxonomy have inappropriate members. Each Axis within the IFRS taxonomy has specific expectations to what Members are allowable.
- The DQC has provided guidance around Axis/Member combinations to help filers understand expectations related to each Axis in the test and which Member usage is appropriate.
- FS with No Associated Calculation
- This rule identifies where an element is defined in the presentation linkbase (XBRL outline) of the filing for the Statement of Income, Statement of Financial Position, the Statement of Cash Flows and Statement of Comprehensive Income without being defined in a calculation relationship.
- Most elements found within the face statement are expected to be included in a calculation relationship with some exceptions.
While the rules will not be effective until after April 30, 2021, we encourage filers to review and address any errors before the effective date to improve data quality.
What’s our plan?
As part of our high level of ongoing service and partner in your success, we want to reassure you that Workiva is working tirelessly to anticipate these changes to EDGAR and incorporating them into our platform. Since Workiva is a cloud-based software, we are able to quickly adapt to these changes, unlike a traditional software that may require IT work.
As such, Workiva has been updated to reflect the new rules and will appear with the “(DQC)” at the beginning of the validation message.
In the meantime, if you have any questions, feel free to let us know here in the Workiva Community. Thanks!