Essential and non-essential errors
- Essential errors are those which cannot be rectified on the basis of the data presented in the annual accounts. An enterprise has to submit corrected accounts within two months of notification by the National Bank. Associations and foundations are not required to submit corrected accounts.
Essential errors can only occur in annual accounts submitted on paper or electronically in PDF format, because if annual accounts are submitted via the internet as a structured data file (XBRL file) and that file contains essential errors, the validation software which verifies the data in the annual accounts file on submission will automatically reject the accounts
- non-essential errors can, on the other hand, be rectified on the basis of the data presented in the annual accounts , in that case, the enterprise, association or foundation concerned is merely asked to avoid such errors in subsequent submissions.