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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Effective

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1 Result

Archived

Effective: 1 November, 2012 - 31 December, 2019

Categories: Performance History/Track Record

Source: GIPS Handbook, 3rd Edition

Firm A has been in existence since before 1 January 2000 and determines that it would like to begin to claim compliance with the GIPS standards. Is Firm A required to restate its entire history in compliance with the GIPS standards in order to claim compliance?

No. Firm A needs only to initially present the most recent five years of its performance history that adhere to the GIPS requirements in order to claim compliance. After the firm presents a minimum of five years of GIPS-compliant performance, the firm must add an additional year of performance each year, building up to a minimum of ten years of GIPS-compliant performance. In addition to the required performance returns, Firm A could link its non-GIPS-compliant history prior to 1 January 2000 without restating its performance prior to 1 January 2000 in compliance with the GIPS standards, provided it discloses that the performance for periods prior to 1 January 2000 is not in compliance. Firms must not link non-GIPS-compliant performance for periods beginning on or after 1 January 2000 to their GIPS-compliant performance.

Please also see original Q&A