The stochastic approach to inflation suffers from ambiguities due to the ar
bitrary choice of the time variable and due to the choice of the factor ord
ering in the corresponding Fokker-Planck equation. Here it is shown that bo
th ambiguities can be removed if we require that the factor ordering should
be set in such a way that physical results are invariant with respect to t
ime reparametrizations. This requirement uniquely selects the so-called Ito
factor ordering. Additional ambiguities associated with non-trivial kineti
c terms of the scalar fields are also discussed, as well as ways of constra
ining these ambiguities. [S0556-2821(99)08212-0].