Definition: A chronological record of financial data that captures who made any change, what data was changed, and when the change occurred. Audit trails give firms the ability to trace a transaction back to its original source, which can be critical for verifying accuracy.
Example: An audit trail documenting NAV would involve logs showing the source of security price feeds, notes from the fund accountant explaining any manual valuation adjustments made to illiquid assets, and electronic approval logs from the CFO regarding the final NAV calculation.
Explore the IVP NAV Solution
The IVP NAV Solution automatically creates audit trails for every calculation. It enables real-time NAV finalization for multiple funds with complete traceability for specific NAV components. It centralizes NAV oversight in one intuitive experience with automated exception identification and trend analysis, so asset managers can quickly and easily remediate NAV anomalies at the key component, share class, and security level.
