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 November, 2012 - 31 December, 2019Categories: Definition of the FirmSource: GIPS Handbook, 3rd Edition
Firm A is a multinational investment firm, with offices around the world, including in Japan, Australia, the U.K. and the U.S. Although all of its offices are part of the global parent company, each office is registered with the appropriate national regulatory authority and each is held out to clients and prospective clients as a distinct business entity. Firm A in the U.S. claims compliance with the GIPS standards. What should the definition of the firm disclosure be?
“For the purpose of complying with the GIPS standards, the firm is defined as Firm A – U.S., which serves U.S. clients and is a subsidiary of Firm A, a multinational investment firm with offices globally. Firm A also has subsidiaries in the U.K., Australia, and Japan, which are not included in the definition of the firm for purposes of compliance with the GIPS standards.”
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