Funds operating under the FASB rules are required to report fair values consistent with the FAS 157 guidance for all portfolio assets for their fiscal years starting after December 15, 2007. While audit review of fund asset values is required at the measurement date, this process does not absolve fiduciaries from their responsibility to insure that the reported asset values are indeed fair value. Axiom’s valuation platform provides the fair value of GICs, BICs, thinly traded and alternative assets - private equity, VC, and hedge fund investments. Working with Axiom provides trustees with the assurance that they are far less likely to be confronted with valuation surprises and be confident they are fully meeting their fiduciary responsibilities. Generally speaking, the complexity of the fair value analysis required increases with the Fair Value Hierarchy Level. Please view our Sample Portfolio page for detail on the types of securities segmented by the Fair Value Hierarchy Level. Also see our White Paper entitled, “Five Myths about the Fair Value of Alternative Investments”.

FAS 157 clearly places the responsibility on Plan Trustees for establishing a transparent and well-documented process to ensure that fair values are determined for all Plan assets. The Employment Benefit Quality Center of the American Institute of Certified Public Accountants (AICPA) has prepared a number of useful guides to Plan Trustees on the FAS 157 requirements and expectations. Please click here to view or download these AICPA documents, which we have organized for Trustee convenience.