FinVerBench: Benchmark Validity and Calibration in Large Language Model Financial Statement Verification
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Abstract (arXiv)
We introduce FinVerBench, a benchmark and validity study for financial statement verification: determining whether a set of corporate financial statements is numerically consistent from the information shown to the model. FinVerBench is built from SEC 10-K XBRL filings for 43 S&P 500 companies and defines a four-category error taxonomy covering arithmetic, cross-statement linkage, year-over-year, and magnitude perturbations. We attempt fifteen contemporary LLM evaluations and report fourteen complete runs; a Gemini 2.5 Pro run is excluded from the main comparison because 40/108 gateway calls failed. All binary metrics exclude underdetermined positive instances whose perturbed line item is not rendered, leaving a 105-instance observable diagnostic subset (43 clean, 62 error-injected). Under the original guided-checklist prompt on the unrounded diagnostic subset, nine of fourteen complete LLM runs produce 95-100% false positives on clean statements, while one run achieves 0% observed false positives. Benchmark rendering choices materially affect measured recall: on a realistic rounded variant of the same observable subset, the calibrated model's recall is 79.0% with 0% observed FPR, compared with 100.0% recall on the unrounded diagnostic variant. These results support a construct-validity conclusion rather than a final leaderboard: financial statement verification is not merely arithmetic detection, but calibrated judgment under incomplete observability, prompt-induced assumptions, and realistic numerical rendering. FinVerBench and all code are publicly available.
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References · 23
- 2023BloombergGPT: A Large Language Model for Financecited by 939
- 2021FinQA: A Dataset of Numerical Reasoning over Financial Datacited by 562
- 2021TAT-QA: A Question Answering Benchmark on a Hybrid of Tabular and Textual Content in Financecited by 408
- 2023FinanceBench: A New Benchmark for Financial Question Answeringcited by 270
- 2023FinGPT: Open-Source Financial Large Language Modelscited by 253
- 2022ConvFinQA: Exploring the Chain of Numerical Reasoning in Conversational Finance Question Answeringcited by 196
- 2024FinBen: A Holistic Financial Benchmark for Large Language Modelscited by 141
- 2024DocFinQA: A Long-Context Financial Reasoning Datasetcited by 60
- 2023DocMath-Eval: Evaluating Math Reasoning Capabilities of LLMs in Understanding Long and Specialized Documentscited by 45
- 2023Deficiency of Large Language Models in Finance: An Empirical Examination of Hallucinationcited by 41
- 2023FinanceMath: Knowledge-Intensive Math Reasoning in Finance Domainscited by 40
- 2025FinanceReasoning: Benchmarking Financial Numerical Reasoning More Credible, Comprehensive and Challengingcited by 28
11 more
- 2024FinDVer: Explainable Claim Verification over Long and Hybrid-Content Financial Documentscited by 19
- 2025FinAuditing: A Financial Taxonomy-Structured Multi-Document Benchmark for Evaluating LLMscited by 14
- 2025FAITH: A Framework for Assessing Intrinsic Tabular Hallucinations in Financecited by 8
- 2026Fin-RATE: A Real-world Financial Analytics and Tracking Evaluation Benchmark for LLMs on SEC Filingscited by 8
- 2025Expect the Unexpected: FailSafe Long Context QA for Financecited by 7
- 2025SECQUE: A Benchmark for Evaluating Real-World Financial Analysis Capabilitiescited by 7
- 2025Automating Financial Statement Audits with Large Language Modelscited by 4
- 2026FinSheet-Bench: From Simple Lookups to Complex Reasoning, Where LLMs Break on Financial Spreadsheetscited by 4
- 2025FISCAL: Financial Synthetic Claim-document Augmented Learning for Efficient Fact-Checkingcited by 2
- 2026Neuro-Symbolic Financial Reasoning via Deterministic Fact Ledgers and Adversarial Low-Latency Hallucination Detectorcited by 2
- 2026Bridging the Arithmetic Gap: The Cognitive Complexity Benchmark and Financial-PoT for Robust Financial Reasoningcited by 1
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