Q & A Database

The GIPS Standards Q&A database contains questions and answers (Q&As) on various searchable topics that provide additional interpretation on an issue. Q&As are considered to be authoritative guidance and must be followed in order to claim compliance with the GIPS standards.

Content from prior Q&As was included in the GIPS Standards Handbook as much as possible and many Q&As were archived. Change the Status drop-down filter to "Archived" to see the archived Q&As.

The GIPS Standards Helpdesk is available for individual questions and typically responds to inquiries within 3 business days.

Search by category, status, date range, and/or keyword.

Category

Advertising Aggregate Method Alternative Investments Asset Owner Assimilating Assets Benchmarks Calculation Methodology Carve-Outs Cash Cash Flow Changes to the Standards: 2006 GIPS Client Reporting Client Updates Composite Calculations Composite Changes Composite Construction Consultant Questionnaires Corrections to the 2006 GIPS standards Creation Date Currency Definition of the Firm Disclosures Discretion Dispersion Early Adoption Effective Dates Error Correction Fees FINRA Firm Assets Firm Notification Requirement Fixed Income Fundamentals of Compliance General/Miscellaneous GIPS Reports Inception Date Incubator Funds Information Outside of GIPS Reports Leverage/Derivatives List of Composite Descriptions Lists of Composites and Pooled Funds Minimum Asset Level Model Results New Portfolios/Accounts Non-fee-paying Portfolios Overlay Strategies Partial Period Returns Performance Examinations Performance History/Track Record Pooled Funds Portability Private Equity Providing GIPS Reports Real Estate Recordkeeping Risk Securities Lending Sub-Advised Assets Sub-Advisors Supplemental/Additional Information Terminated Portfolios Total Asset Owner Assets Total Fund Definition Trade-Date Accounting Valuation Verification Wrap Fee Portfolios

Status

Organization Type

Effective

Keyword

1 Result

Archived

Effective: 1 January, 2014 - 31 December, 2019

Categories: Recordkeeping

Source: GIPS Executive Committee

The GIPS standards require that firms must document their policies and procedures used in establishing and maintaining compliance with the GIPS standards, including the existence and ownership of client assets, and must apply them consistently. How does this requirement relate to the requirements that all data and information necessary to support all items included in a compliant presentation must be captured and maintained?

Firms must have policies and procedures for capturing and maintaining all data and information necessary to support all items included in its compliant presentations. Although most firms are looking for a very precise list of the minimum supporting documents that must be maintained to support all parts of the compliant presentation, including the ability to recalculate the firm’s performance history, there is not a single list of records that will suffice in all situations. Each firm must determine for itself which records must be maintained. The firm’s procedures should outline who is responsible for maintaining required records and data, as well as how and where such information is stored and for how long. Above all else, a firm must comply with all applicable laws and regulation regarding calculation and presentation of performance, including any recordkeeping requirements.

Please also see original Q&A