Feilbeløp

Feilbeløp is a term used in Norwegian accounting and auditing to describe an amount recorded in financial records that is incorrect compared with the correct value. The feilbeløp may be positive or negative and represents the discrepancy between what was reported and what should have been reported. It can originate from errors in data entry, arithmetic mistakes, misapplied rates, or misinterpretation of contracts or terms.

In practice, feilbeløp can appear in invoices, receipts, ledgers, or tax returns. Auditors estimate the size and direction of the misstatement (feilbeløp) to judge whether the financial statements are reliable. If the feilbeløp is material, it may require disclosure in notes or management attention. Detection commonly occurs through reconciliations, internal controls, or audit procedures.

Correction and controls are central to handling feilbeløp. When identified, the typical remedy is to reverse the erroneous entry and post a corrected one, or issue a corrected invoice or credit note. The process is part of internal controls and regular account reconciliation. Material feilbeløp, exceeding the organization’s materiality threshold, usually prompts management review or adjustments in financial reporting.

Examples help illustrate the concept: recording a supplier invoice at 12,000 NOK instead of 11,000 NOK creates a feilbeløp of 1,000 NOK. Applying an incorrect exchange rate can produce feilbeløp in the presentation currency.

See also: feil, avstemming, revisjon, materialitet.