That explains to you exactly how tanking stats work in this game, both for PvE and PvP.
Thank you, Taugrim.
Original article is linked in the above post.
Edit: This section is from Georg Zoeller.
First is a hit roll, accuracy versus defense, and if the attacker misses then no damage occurs. If the attacker rolled poorly enough to miss even discounting the target’s defense then a “Miss” result occurs. If he misses because of the defense then the result varies based on the attack type, the cover state of the target, and the target’s equipped weapons. All the possible results – Dodge, Parry, Deflect, Resist, Cover – are mathematically the same, but they can trigger different effects and are visualized in different ways.
If the attacker hits, then a second roll is made with the crit chance of the attacker versus the shield chance of the target. If a Crit or a Shield occurs then the damage is adjusted up or down (based on Surge/Absorb), and then it goes through to the armor and damage resistance. A critical can never be shielded, and an attacker with a high enough crit chance can push the target’s shield chance off the table. It shouldn’t be possible to get your passive crit chance high enough to start pushing off the target’s shield chance, but there are short-duration buffs that push these chances high enough to come into conflict.