Independent audits of FINRA's financial calculators were conducted. The audit process sought to verify the accuracy of each tool given its specific assumptions and limitations.
Broker Village is FINRA Investor Education’s primary provider for online tool auditing services. Broker Village provides share class analytics, prospectus auditing, and revenue optimization services to fund firms, brokerage firms and regulators.
Broker Village was engaged to conduct an independent audit of the following FINRA tools to refine and verify the calculation methodology and accuracy:
The goal of these audits was to ensure that each tool generates accurate answers. The tools also must apply appropriate industry practices, accounting standards, and SEC requirements.
Broker Village applied relevant aspects of the CFA Institute’s code of conduct, Global Investment Performance Standards, and research report rules. Proper analytical methods were used, conflicting methods were duly considered, and that material assumptions were correct and disclosed appropriately. FINRA had no influence over the audit results.
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