UC-404
Quarterly Valuation Marks & IPEV Evidence
Builds the quarterly valuation file for each portfolio company, defends the comparable set and holds the evidence the auditor will ask for.
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The Challenge
Each quarter the valuation spreadsheets are rebuilt by hand and the comparable set is defended from memory. The audit trail is reconstructed months later when the auditor asks why the multiple moved.
How It Works
- Reads portfolio management accounts, comparable company data, deal terms and prior marks.
- Refreshes comparables, recomputes the multiple and splits the move into trading and market.
- Hands the valuation committee a marked file with the evidence for each judgement attached.
What It Removes
- Rebuilding comparable company sets each quarter
- Manual collection of portfolio company trading data
- Reconstructing the valuation rationale at audit
Input Data RequirementsPortfolio management accounts and budgets, comparable company and transaction data, deal and instrument terms, prior valuation files, valuation policy
Output FormatQuarterly valuation file per company with refreshed comparables, a movement bridge, the judgement log and an audit evidence pack behind each mark
“The mark is a judgement, and the only record of why we made it is whatever someone wrote in the committee minutes.”