On January 14th, staff in the SEC’s Division of Economic and Risk Analysis noted that some filers were using incorrect context dates when tagging fact values in Forms 10-K and 10-Q.
The types of tagging errors observed include:
- the use of context dates carried over from a prior period’s filing to tag current period information in a current period’s filing
- using an incorrect year when tagging comparative prior period information
- not using the relevant date of event or measurement for facts associated with an event or measurement, respectively
- using a calendar year-end date when the filer’s fiscal year does not align with the calendar year
For additional information on context date, refer to Questions E.19 and E.19.1 on the SEC’s FAQ webpage, and sections 6.5.19, 6.5.20, and 6.5.21 of the EDGAR Filer Manual (Volume II). For other data quality reminders, visit the Staff Observations, Guidance, and Trends webpage.
Sources:
Incorrect Context Dates for Reported Facts (sec.gov)
