Standards Governance
Framework Governance Policy Document
1. Governance Structure
The Valuation Stability Standard (VSS) operates under version-controlled governance protocols maintained by the Standards Committee.
Model calibration updates follow documented release procedures with mandatory review and approval stages.
Historical model versions remain archived in perpetuity and are accessible for reference and audit purposes.
Certificates issued under any model version are never retroactively modified. Each certificate references the specific model version under which it was computed.
2. Model Release Protocol
All model releases must satisfy the following requirements prior to deployment:
| Requirement | Description | Status |
|---|---|---|
| Calibration Review | Independent review of all scoring parameter adjustments | Required |
| Cohort Sufficiency Validation | Verification that benchmark cohorts meet minimum statistical thresholds | Required |
| Regression Testing | Validation against historical submissions to ensure consistency | Required |
| Documentation Update | Complete methodology documentation reflecting all changes | Required |
| Version Tagging | Formal version identifier assignment and registry entry | Enforced |
3. Oversight & Review Framework
The Standards Committee maintains ongoing oversight of framework integrity and operational consistency.
Periodic reviews are conducted to assess scoring methodology relevance, benchmark calibration accuracy, and cohort representativeness.
All review findings are documented and retained as part of the governance record.
Review Schedule
4. Update Policy
Framework updates are classified and processed according to the following policy:
| Classification | Scope | Versioning |
|---|---|---|
| Minor Update | Calibration adjustments, threshold refinements, documentation corrections | V1.0 → V1.1 |
| Major Update | Scoring methodology changes, pillar restructuring, grade boundary modifications | V1.x → V2.0 |
All changes are archived and time-stamped in the Version Archive. Historical versions remain accessible for audit and reference purposes.
5. Conflict of Interest & Independence Statement
The Valuation Stability Standard is an independent analytical classification framework. It does not provide investment advice, financial recommendations, or endorsements.
VSS grades and scores represent structural assessments based on submitted data and do not constitute guarantees of future performance, valuation outcomes, or investment suitability.
The Standards Committee operates independently from commercial interests. Scoring methodology is not influenced by submission volume, participant identity, or fee considerations.
Participants in the VSS program have no influence over scoring parameters, grade boundaries, or benchmark calibration.
6. Amendment Procedure
Amendments to this governance policy require formal review and approval by the Standards Committee.
Proposed amendments must include a rationale statement, impact assessment, and implementation timeline.
All amendments are documented in the governance record with effective dates and supersession references.
Governed by Ultra Sigma Ltd., Auckland, New Zealand.
Document Version: 1.0 | Effective Date: January 2026