Confluence Automates SFAS Validation

The additions enable Unity to automatically compare the values in FAS 157 disclosure schedules against those in the user firm's general ledger and the investment managers' list of holdings.

SFAS 157 requires buy-side firms to report fair values for assets under management and to assign valuation standards of Level One, Two or Three to reflect the difficulty involved in pricing the asset. A Level One assignment refers to assets for which there are active markets and reliable market prices avai