A LEVEL 3 financial report is readable by computer and the syntax is standard, structured for meaning, a "dictionary" (a.k.a. taxonomy, schema, ontology, conceptual model) is provided; but NO MATHEMATICAL RULES are provided to verify the report model or reported facts to make sure there are no inconsistencies or contridictions in the reported information. The high-level report model is INCOMPLETE. Because of the lack of control which rules would provide, quality issues are likely. Because of a lack of high level report model, information extraction is challenging, but possible.
BOTTOM LINE: Information is readable but information very likely contains mathematical errors and other quality issues due to the missing machine readable MATHEMATICAL rules. Extraction of information is also challenging, those creating extraction algorithms must also create the metadata necessary to effectively extract report information.