Financial Report Accuracy
Inside the Numbers: How the ASX Top 20 Performed on Reporting Accuracy
👀 What We Set Out to Do
Using the Accurate Digits platform, we analysed the latest half year / 4D reports from the ASX Top 20. We weren’t auditing or second-guessing judgement — we just asked a simple question:
Do the numbers actually add up?
That might sound basic. But when a typo, miscalculated percentage, or inconsistent figure slips through, it can cause embarrassment at best — or worse, drive an investor to a decision based on the wrong number.
📊 The Fast Facts
Here’s what we found using the Accurate Digits platform:
Here’s what we found using the Accurate Digits platform:
- 24,625 calculations reviewed
- 62 numerical errors
- 104 rounding inconsistencies
- 99.72% average accuracy rate
That’s an impressive accuracy stat — and a huge credit to the finance teams behind these disclosures.
👏 You can almost feel the late nights and triple-checks it took to get there.
This is high-quality reporting in action.
But it’s not the whole story.
🔎 Where It Gets Interesting
While most companies were rock solid, the errors weren’t evenly spread. In fact:
- 💼 Most errors were outside the audited financials — in the Directors’ Report or "Other Information" sections
- 🛠️ Mining and materials companies tripped up more often – possibly due to heavier use of complex and bespoke tables.
- 💼 All Big Four auditors performed well – but if you had to call a winner on this small sample size, PwC-audited companies came out marginally ahead.
- 🔁 Some companies round everything. WiseTech doesn’t eliminate rounding differences in totals. Rio Tinto takes a mixed approach. There’s no universal rule — but the choices companies make here say a lot about their reporting style.
- And then there’s design — When tables were clean, consistent and logically laid out, we found fewer errors.
✨ Featured Articles From the Research
1. 🧠 The Unseen Work of Accuracy
Your team works hard to get the numbers right. Here’s where those errors still sneak in — and why clarity matters.
2. 🔄 To Round or Not to Round?
Most companies round all their numbers / tables. WiseTech doesn’t round. Rio Tinto rounds some reports and not others. There is no one right way.
🔜 Coming soon
3. 🤖 Designing Reports for Humans (and Machines)
Tables that follow clear logic lead to better outcomes. What our digital reviewer struggled with, your grad accountant probably does too.
🔜 Coming soon
4. 💸 The Cost of Getting Accuracy Right
Is chasing 100% accuracy worth it? We unpack the effort, risk, and real-world trade-offs.
🧭 What’s Next?
This was just the beginning. We’re now expanding our research to look at Companies outside the ASX20.
💡 Why This Matters
Reporting errors aren’t just about the maths. They affect trust, clarity and how seriously your stakeholders rely on the numbers.
Many of the issues we found were likely immaterial in isolation, But they’re still the kind of thing that trips up review cycles, slow down audit sign-off and quietly undermine confidence.
Accuracy isn’t just about compliance – its about credibility.
The upside? These are fixable things. With the right process and tools, we can all do better — faster.
✅ Want to Avoid These Errors in Your Own Reports?
Our analysis of the ASX Top 20 showed that even the best finance teams spend hours checking numbers — and still miss a few. The stakes are high: small inaccuracies can lead to delays, rework, audit overruns, or lost confidence with stakeholders.
Accurate Digits helps finance teams spot these issues before they slip through — using AI-powered review to verify calculations, highlight inconsistencies, and surface rounding problems in minutes.
Whether you're finalising half-year reports, preparing board packs, or reviewing internal management reports, Accurate Digits can help you:
- ✅ Save time on manual checks
- ✅ Catch errors earlier in the cycle
- ✅ Present cleaner, more credible reports
See how our Accurate Digits helps with financial reporting accuracy.
For disclaimer and usage terms of this research, see the full statement here.
