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.

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1 Result
  • Archived

    Effective: 1 November, 2012 - 31 December, 2019
    Categories: Recordkeeping
    Source: GIPS Handbook, 3rd Edition

    Firm A claims compliance with the GIPS standards.  It maintains hard copies of the records supporting compliance for three years and discards all records older than three years in an effort to save office space.  The performance reported on all of its compliant presentations shows five years of history.  Is the firm in compliance with the GIPS standards?

    No.  A firm must capture and maintain all data and information necessary to support all items included in a compliant presentation.  Because Firm A presents five years of performance history, it must maintain the records to support the firm’s five-year history and all other data and information in the firm’s compliant presentations.  Because the GIPS standards require firms to present an additional year of performance each year, building up to a minimum of 10 years of GIPS compliant history, the firm must continue to maintain the records to support the firm’s eventual 10-year performance history.

    Please also see original Q&A