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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ArchivedEffective: 1 May, 2013 - 31 December, 2019Categories: VerificationSource: GIPS Executive Committee
Can a verification be performed on a composite or on an individual portfolio or fund within a composite?
No. A verification report is issued for a firm, not for a composite, fund, or portfolio and, accordingly, does not provide assurance about the performance of any specific composite. A firm must not state that a particular composite has been “verified” or make any claim to that effect. However, a firm may choose to also have a performance evaluation of a specific composite and its associated compliant presentation. A performance examination can be performed on an individual composite either after or in conjunction with a verification report issued for the entire firm. A performance examination report must not be issued unless a verification report has also been issued. A performance examination is not required for a firm to be verified.
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