APRA Releases Improved Data Quality Controls for D2A Reporting
APRA released improved data quality controls on text fields for D2A reporting. These changes are relevant for all APRA-reporting institutions.
APRA is committed to ensuring that data submitted through D2A is fit for purpose and complies with its reporting standards. To do this, APRA uses a range of measures to confirm the quality of data submitted to it. Due to a shortcoming of the D2A system, entities that submit data via XML files are currently able to submit invalid values in D2A input fields for drop-down lists (that is, values that are not in the drop-down list according to the values prescribed in the reporting standards and taxonomy). Moreover, some forms have minor inconsistencies between the APRA reporting taxonomy and the drop-down lists in the D2A form specifications. As a result of these issues, some entities have been able to (unintentionally) submit invalid values in the past.
To fix the first issue, APRA will be implementing additional validation rules for most returns starting from the September 2018 quarterly reporting period. These rules will check to ensure that values submitted for drop-down list fields match the list of valid values as per the APRA reporting taxonomy. APRA will not yet implement additional validation rules on forms where it has identified minor inconsistencies between the form specification and the reporting taxonomy (the second issue). APRA will first make minor changes to these forms to fix the inconsistencies and will communicate such changes in advance of implementation. In situations where it is clear what the correct value should be, APRA will internally adjust the already submitted invalid data for reporting and analysis purposes. APRA will do so without modifying the original submitted D2A records. APRA will contact affected entities if there is any doubt about what course of action to take.
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Keywords: Asia Pacific, Australia, Banking, Insurance, Reporting, D2A, Validation Rules, APRA
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