Reporting & audit trail
Every number, traceable to its inputs
The report is the work product — so the platform treats it that way. Pixel-perfect branded PDFs, an auto-generated methodology-audit document, and a field-level audit trail mean any reviewer can re-derive the concluded value to the cent, long after finalization.
Methodology-audit documentField-level audit logBuilt for Big-4 review
Report generation
The deliverable, generated from structured data
No re-keying numbers into Word. Reports render directly from the persisted engagement data, so the exhibits always match the conclusion.
Pixel-perfect PDF generation
Print-ready, A4-format reports with configurable margins, headers, and footers — rendered server-side from structured data, not re-keyed from a model.
Firm branding
Logo, color scheme, header/footer text, and confidentiality notices configurable per firm — your report, your brand.
Full report sections
Cover page, executive summary, company overview, methodology narrative, per-method exhibits, sensitivity tables, comparable appendices, allocation tables, DLOM analysis, per-share conclusions, and signature blocks.
In-place narrative editing
A structured rich-text editor for every qualitative section — not raw HTML — so the report reads like your firm wrote it, while the exhibits beneath stay intact.
Multiple report templates
409A, ASC 820 fair value, ASC 718, IPEV / Indicated Value, scheduled, and custom templates — the right deliverable for each standard.
Multi-format export
Signed PDF, per-section Excel workbooks, and full JSON export for ingestion into downstream systems.
The report editor
Edit the story. Not the math.
Rewrite the narrative, reorder the sections, and shape the deliverable to your firm's house style — while every engine-derived figure stays exactly what the platform computed. That boundary is enforced by the platform, not left to discipline: each field in the report carries an editability classification.
The narrative is yours
Executive summary, company overview, methodology discussion — every qualitative section is directly editable, so the report reads in your firm's voice.
Judgment, on the record
Where a standard allows analyst judgment, you can override a value — but only with a documented reason that is captured and logged against the figure.
The math the platform owns
Allocation, DLOM, and per-class fair value are computed and can't be silently changed — your edits overlay the report without ever touching the underlying calculation.
Reorder, hide & restore sections
Move sections up or down, hide the ones an engagement doesn't need, and add them back from an available-sections picker — the table of contents and exhibits stay in sync.
Working copy, then freeze
Edits sit on a working copy tied to a base revision; finalize to freeze a version. Each report generation is scoped on its own, so editing one never disturbs another.
Tied to the engine run
Every edit records a snapshot of the engine state it was made against — so when inputs change and the math re-runs, an override can be checked against the new result instead of masking it.
What you see is what exports
The editor preview and the exported PDF are the same overlay applied to the same engine output — with zero edits, the export is byte-for-byte the engine's own render.
Audit trail & defensibility
Defensible by default, not by effort
The chain of evidence is captured automatically — so “where did this number come from?” always has an answer.
Methodology Audit document
A complete, defensible record of every method's inputs, intermediate calculations, and outputs — auto-generated alongside the primary report.
Methods Totals document
A side-by-side cross-method summary showing exactly how each approach contributed to the final concluded value.
Field-level audit trail
Every entity carries created/modified/deleted stamps; soft delete preserves historical state for regulatory and dispute defense.
Version history
Cap-table finalization history with timestamps, plus report version history tracking every edit to every section.
Searchable audit log
Full-text search across the complete change history and per-entity change records.
Built for reviewers
These artifacts are designed for direct submission to auditors, IRS examiners, audit-committee reviewers, and Big-4 reviewers.
Provenance, shown
Follow one number to its source
“Where did this come from?” has a literal answer. Every figure carries its lineage — the inputs behind it, the model that computed it, and the log of who touched it and why. (Values below are illustrative.)
Lineage of a single figure
- Analyst
Inputs entered
Volatility 62.0% · Term 2.50y · Risk-free 4.10%
Captured with the user and a timestamp.
- Engine
Model applied
Finnerty average-strike put
A selected model, computed — never typed in.
- Engine
Result derived
DLOM = 21.3%
Tied to a hash of the engine state it was computed against.
- Engine
Applied per class
Adjusted by share class via Merton elasticity
Flows straight into the per-share fair value on the report.
With zero edits, the exported report is byte-for-byte the engine's own render — so a reviewer can re-derive the number to the cent.
Audit log
illustrative- Jan 31 · 14:22Analyst
Set volatility → 62.0%
- Jan 31 · 14:22Engine
Recomputed DLOM → 21.3%
- Feb 02 · 09:15Analyst
Override method weighting → Post-Money 60 / Backsolve 40
Reason: Most recent round is arm's-length and post-dates the GT comps.
- Feb 05 · 16:40Reviewer
Finalized report v1.2 — frozen
Frequently asked questions
What is the methodology-audit document?
Alongside the primary valuation report, the platform auto-generates two supporting artifacts: a Methodology Audit — a complete record of every method's inputs, intermediate calculations, and outputs — and a Methods Totals summary showing how each approach contributed to the final concluded value. Both are designed for direct submission to auditors, IRS examiners, and Big-4 reviewers.
Can we edit the report — and what stays locked?
Yes. Every qualitative section — executive summary, company overview, methodology discussion — is directly editable in a structured rich-text editor, and you can reorder, hide, and restore sections. What you can't silently change is the math: allocation, DLOM, and per-class fair value are engine-derived, and your edits overlay the report without touching the underlying calculation. Where a standard allows analyst judgment, a value can be overridden — but only with a documented, logged reason.
Can the report be branded for our firm?
Yes. Logo, color scheme, header/footer text, and confidentiality notices are configurable per firm. Reports render as pixel-perfect, print-ready A4 PDFs, and any narrative section can be overridden with custom HTML while the structured-data exhibits beneath remain intact.
How is the audit trail maintained?
Every entity carries created/modified/deleted stamps, and soft delete preserves historical state. Cap-table finalization history and report version history are tracked, and a searchable audit log with full-text search records per-entity changes — so any number can be traced back to its inputs even after finalization.
What export formats are supported?
Signed, print-ready PDF; per-section Excel workbooks including comparable data, allocation tables, and financial statements; and a full JSON export for downstream systems. Scheduled Excel-template reports are also supported.
See a report and its audit trail
Book a walkthrough to see a branded report and its auto-generated methodology audit, end to end.