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 November, 2012 - 31 December, 2019

Categories: Disclosures

Source: GIPS Handbook, 3rd edition

Provision 4.A.1. includes language for how a firm must disclose its claim of compliance with the GIPS standards. The compliance statements differ depending on the firm’s verification status, as well as the specific composite’s performance examination status. Each of the compliance statements is in quotes. Does this mean that we have to use the exact words in the respective compliance statement, or can we modify the language?

The language in each compliance statement is not expected to change. However, there may be instances where it may be appropriate for a firm to modify the language slightly. For example, a firm may modify the language to include the name of the firm’s verifier, if the firm wishes to disclose this information. A firm may also need to modify the language to add more details about the name of the firm that has been verified or the dates of the verification if the verification period was not continuous. Any modifications must be additive, and must not result in a claim of compliance that is false or misleading. Also, a firm must not exclude any portion of the respective compliance statements.