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.

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Archived

Effective: 1 December, 2013 - 31 December, 2019

Categories: Wrap Fee Portfolios

Source: GIPS Executive Committee

For periods beginning on or after 1/1/2006, if we redefine our firm to include both wrap fee/SMA assets and non-wrap fee/SMA assets, should we also restate what we reported for our total firm assets for periods prior to 1/1/2006?

The firm may decide whether to restate firm assets for periods prior to 1/1/2006. If the firm is redefined, the firm must disclose the date of, description of, and reason for the redefinition. If the total firm assets are restated for prior periods, the firm should disclose the restatement.

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