Profit and loss: values must agree (S.39.01, EIOPA rule BV2038)

The rule in plain words

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it. It runs only when your filing indicators mark S.39.01 as reported.

The cells it reads

Which returns it applies to

Line4 Check runs it on financial stability solo (QFS), financial stability group (QFG) and financial stability branch (QFB) returns on EIOPA taxonomy 2.10.0. EIOPA applies it to financial stability group (QFG), financial stability branch (QFB) and financial stability solo (QFS) returns, as a warning.

EIOPA’s own words and formula

In EIOPA’s list of validations, word for word:

The Statutory Accounting: Profit & Loss in S.39.01.11.01 - Profit and Loss - Result should be equal to the sum of Technical account - Net result - Non-life, Technical account - Net result - Life, Non-technical account - Balance and minus Taxes on income.

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.