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Accuracy and reliability

Contact info

Government Finances, Economic Statistics
Jesper Søgaard Dreesen
+45 3917 3054

jsd@dst.dk

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Financial Accounts

The financial accounts are based on a number of sources that may be influenced by a certain degree of inaccuracy, which may affect the financial accounts. The consistency checks and the data evaluations reduces the impact of imprecise data sources.

Overall accuracy

The financial accounts are considered to have a relatively high accuracy. The consistency checks and data evaluations with the non-financial accounts within the system of national accounts ensures its veracity.

In practice, it is difficult to measure the level of inaccuracy. It can be implicitly be measured by comparing the net lending (borrowing) in the financial accounts with the non-financial accounts before any balancing has occurred. This tacitly assumes that the non-financial accounts have a higher degree of accuracy than the financial accounts. Quality performance indicators for the inaccuracy is under development.

Sampling error

Not developed for these statistics.

Non-sampling error

Not developed for these statistics.

Quality management

Statistics Denmark follows the recommendations on organisation and management of quality given in the Code of Practice for European Statistics (CoP) and the implementation guidelines given in the Quality Assurance Framework of the European Statistical System (QAF). A Working Group on Quality and a central quality assurance function have been established to continuously carry through control of products and processes.

Quality assurance

Statistics Denmark follows the principles in the Code of Practice for European Statistics (CoP) and uses the Quality Assurance Framework of the European Statistical System (QAF) for the implementation of the principles. This involves continuous decentralized and central control of products and processes based on documentation following international standards. The central quality assurance function reports to the Working Group on Quality. Reports include suggestions for improvement that are assessed, decided and subsequently implemented.

Quality assessment

The financial accounts are based on various sources that may be influenced by a certain degree of inaccuracy, which in turn affects the financial accounts. The number of consistency checks, data confrontations and comparisons with the non-financial accounts facilitated by the system of accounts, reduces the effect of inaccurate sources on the financial accounts. In principle, it is difficult to measure the level of inaccuracy. However, the net lending / net borrowing across sectors, which are calculated before the final balancing is carried out, are comparable with the same measure in the non-financial accounts. The differences can be regarded as a measure of accuracy for the national accounts as a whole. Quality performance indicators for the inaccuracy is under development.

Data revision - policy

Statistics Denmark revises published figures in accordance with the Revision Policy for Statistics Denmark. The common procedures and principles of the Revision Policy are for some statistics supplemented by a specific revision practice.

Data revision practice

The first temporary figures of the latest reference year are published at the end of June. The final figures are published three years hence in the November release. Upon publication in the end of June, the three latest years are considered to be temporary. The earliest year is considered to be final in the November release. There can be some significant revisions to the latest year. At present, the years 1995-2016 are considered to be final. A major revision may require an opening of the final numbers.