> For the complete documentation index, see [llms.txt](https://venzofinance.gitbook.io/venzofinance-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://venzofinance.gitbook.io/venzofinance-docs/venzo-app/architecture/accounting-and-controls.md). # Accounting and Controls Net Asset Value (NAV) is the foundation of Venzo's accounting architecture. The share price is calculated as the total vault NAV divided by the total shares outstanding. For liquid onchain strategies, NAV is derived directly from onchain positions and pricing feeds. For real-world assets (RWA) or offchain strategies, NAV relies on external administrator reports, reserve data, collateral values, and third-party verification. The product-level NAV calculation aggregates the verified component value and idle assets, subtracts liabilities and accrued fees, and divides by the units outstanding. The system continuously monitors what components are included, the value per component, who verified the inputs, and whether the update passed deviation and freshness checks. *** #### **Oracle Quorum and Signer Controls** Because subscriptions and redemptions are processed exactly at NAV, an incorrect valuation would treat entering and exiting investors unfairly. To prevent this, Venzo requires multiple independent approvals before a NAV update becomes authoritative. A typical vault requires a 3-of-3 NAV signer quorum, strict maximum price deviation checks, and role-based authorization before the new share price is published. Additional oracle controls include stale data detection, source validation, manual review requirements for abnormal updates, automatic pauses on failed updates, signed report hashes, and the onchain publication of report references. If a component's NAV becomes stale, missing, disputed, or falls outside policy limits, the product automatically pauses subscriptions, redemptions, and rebalancing until the issue is resolved. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://venzofinance.gitbook.io/venzofinance-docs/venzo-app/architecture/accounting-and-controls.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.