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.
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ArchivedEffective: 1 December, 2013 - 31 December, 2019Categories: Changes to the Standards: 2006 GIPS, DisclosuresSource: GIPS Executive Committee
The introduction to Chapter I of the GIPS standards states that some disclosures may not be applicable in all situations. Please elaborate.
If a situation described in a disclosure requirement does not exist at a firm, or is not applicable to a specific composite, no disclosure is required. Not all disclosures are necessary for all firms, only those applicable specific to the firm. For example, the GIPS standards require that firms disclose if a composite’s name has changed. When preparing a presentation for a composite that has not had a name change, no disclosure is needed with regard to this requirement. The firm does not need to disclose that the composite has not changed names. No “negative assurance” language is needed for non-applicable disclosures.
Please also see original Q&A