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.
Search by category, status, date range, and/or keyword.
ArchivedEffective: 1 November, 2012 - 31 December, 2019Categories: DisclosuresSource: GIPS Handbook, 3rd Edition
Firm A presents its performance history since its inception in 1990 and claims compliance with the GIPS standards. The performance record since 1996 adheres to requirements of the GIPS standards. However, the firm did not include accrued income in the return calculation for the period from 1990 to 1995. What disclosure is necessary to allow the firm to link its pre-1996 non-compliant history with the ongoing compliant history?
Firm A must disclose on its compliant presentation that the performance record from 1990 to 1995 is not in compliance. This disclosure informs a prospective client that the performance record prior to 1996 is not in compliance with the GIPS standards and allows the prospective client to request more information about why the performance is not in compliance.
Please also see original Q&A