Frequently asked questions
The questions institutional investors ask in our first conversation. Answered here so meetings can start at the strategic level.
The core question PROVEN answers
What does PROVEN do?
PROVEN is a financial reconstruction and verification engine. We rebuild the income statement and the statement of cash flows directly from source documents, then compare the result to what management has reported.
Who is this for?
Private equity funds, venture capital firms, and private credit lenders. We built PROVEN for investment professionals who need to verify portfolio-company financials independently — before they commit and after.
What question does PROVEN answer?
One question: what actually happened in cash reality? PROVEN does not model what should have happened, or what management says happened. It rebuilds what did happen from source evidence.
PROVEN does not model reality. It proves it — every figure is rebuilt from source evidence and traceable back to it.
Boundaries that are features
The boundaries below are deliberate. Each one defines where PROVEN certainty is highest, and where other tools are the right choice.
Is PROVEN an audit?
No. An audit tests a sample of transactions once a year and attests to GAAP or IFRS compliance. PROVEN rebuilds financial statements from source evidence on a monthly cadence and does not provide an attestation. We operate alongside the audit process, not in place of it.
Is PROVEN a Quality of Earnings provider?
No. A QoE report is transactional — produced once, typically during diligence, by an accounting firm. PROVEN produces continuous, source-rebuilt output throughout the investment lifecycle. A QoE is a point-in-time snapshot; PROVEN is an ongoing verification layer.
Is PROVEN a replacement for internal financial diligence?
No. PROVEN is a tool used by diligence and monitoring teams. It replaces the weakest link in the existing process — the unverified management-reported numbers — not the judgment of the professionals doing the work.
Is PROVEN a general ledger or accounting system?
No. PROVEN sits above the general ledger and validates it. The accounting system, the accounting team, and the audit process all remain necessary. PROVEN is an independent evidence and analysis layer, not a system of record.
Does PROVEN produce GAAP or IFRS financials?
No. PROVEN does not produce audited financials or attest to accounting-policy compliance. What we produce is a source-rebuilt view of cash reality, designed to be used alongside GAAP or IFRS reporting, not in place of it.
Does PROVEN capture the full balance sheet?
No. PROVEN rebuilds the P&L and the cash flow statement — the statements where source evidence and management reporting most often diverge. The balance sheet has its own verification infrastructure in custody records, audit confirmations, and depository statements; full working-capital analysis remains the province of the tools built for it.
Output and outcomes
What does the output look like?
A rebuilt P&L and cash flow statement, reconciled against management-reported figures, with material variances surfaced and documented. The output is built to be presented to investment committees, credit committees, and auditors.
Where is PROVEN strongest?
The cash flow statement. Cash cannot be easily faked. Because PROVEN rebuilds directly from source evidence, the cash flow output is the most reliable element of what we produce. It's often the most decisive in early-stage or complex situations where reported earnings can mislead.
When are other tools needed?
Three specific cases. GAAP or IFRS financial reporting still requires the accounting team, the general ledger, and the audit process. Valuation analysis requires market comparables, DCF models, and fair-value inputs. Full working capital analysis requires AR, AP, and inventory data. PROVEN is scoped to what can be verified from source cash evidence, and nothing beyond that.
How we handle your data
Who owns the data we send you?
You do. PROVEN operates as a data processor, not a data controller. The client is always the data controller. Engagements are governed by a Data Processing Agreement that confirms client ownership of all financial data and defines PROVEN access as read-only and revocable.
How is data protected?
PROVEN is built on enterprise-grade cloud infrastructure with encryption in transit and at rest, tenant isolation, and full access logging. Our security posture is designed to meet the standards of SOC 2 Type II and ISO 27001 — certifications we are pursuing on a timeline aligned with first commercial engagements.
Can you provide a full security package under NDA?
Yes. For engagements in active discussion, we can provide a complete security and architecture overview under NDA, including infrastructure documentation, data-handling practices, and sub-processor list. Contact us to start the review.
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