Validation and verification of the '9.4 Commentary on Movements' Sheet (September 2019)

Summary

This is a technical guidance note issued by the JFSC explaining the validation and verification checks that run automatically when an entity submits the '9.4 Commentary on Movements' sheet as part of its prudential reporting return. It applies to Jersey-based Officially Informed Businesses (OIBs), referred to here as the entities that file this prudential return, and is intended to help preparers understand and correct data entry errors before or on submission.

• Purpose: Sets out the automated checks the JFSC's system performs on the Commentary on Movements sheet when the prudential return template is submitted.
• Content structure: Lists, cell by cell (columns for Sheet, Sheet Item, This Quarter, Last Quarter), the validation rule and the exact error message an OIB will receive if a check fails, covering roughly 100 line items (SM.1 through SM.100).
• Data entry rules: Monetary amounts must be whole numbers between -1,000,000,000 and +1,000,000,000 (in units of £1,000); Sheet entries must match a valid sheet name from the workbook's Contents list; Sheet Item entries must be a valid item number of 1 to 7 characters.
• Limits of Excel validation: Notes that built in Excel validation only triggers on direct manual input, so it is not a failsafe; OIBs should independently check their data before relying on it, since final validation happens when the JFSC's system checks the submission.
• Submission outcome: If all checks pass, the submission is accepted and the OIB is notified, along with any warnings; each failed check returns a unique identifier (Check number) that maps to this guidance note.

The document is purely explanatory and procedural, describing how existing prudential reporting data fields are validated rather than creating new substantive reporting obligations. It supports OIBs already required to submit prudential returns under separate JFSC reporting requirements.

Key obligations

• OIBs submitting the 9.4 Commentary on Movements sheet must ensure Sheet entries match a valid sheet name from the workbook's Contents list
• OIBs must ensure Sheet Item entries are valid item numbers between 1 and 7 characters
• OIBs must enter This Quarter and Last Quarter monetary values as whole numbers within the range -1,000,000,000 to +1,000,000,000
• OIBs should independently check their data prior to submission rather than relying solely on Excel's built in validation, since final checks occur upon submission to the JFSC

Applies to

Officially Informed Businesses (OIBs)