We provide large-sample archival evidence on the nature and consequences of errors deemed immaterial to the previously issued financial statements containing the errors (immaterial errors). The incidence of immaterial error corrections has been increasing since about 2004, and these corrections are associated with modestly and discernibly negative share returns that are more negative for income-decreasing corrections and corrections that involve multiple issues. We find that immaterial errors are a leading indicator of poor reporting reliability as measured by future material and immaterial reporting errors, material weaknesses in internal controls, and SEC comment letters. Our findings suggest that immaterial errors provide researchers and investors with a more frequent and less severe indicator of potential audit or financial reporting issues as compared to more extreme reporting problems such as material errors corrected by restatements.

中文翻译：

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非重大错误更正和财务报告可靠性*

我们提供关于错误的性质和后果的大样本档案证据，这些错误被认为对先前发布的包含错误（非重大错误）的财务报表不重要。自 2004 年左右以来，非实质性错误更正的发生率一直在增加，这些更正与适度且明显的负股票回报相关联，这对于收入减少的更正和涉及多个问题的更正更为负面。我们发现，根据未来的重大和非重大报告错误、内部控制的重大缺陷和 SEC 评论信来衡量，非重大错误是报告可靠性差的领先指标。