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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ArchivedEffective: 1 June, 2008 - 31 December, 2013Categories: Error Correction, List of Composite DescriptionsSource: Guidance Statement on Error Correction
We recently determined that our list and description of composites inadvertently excluded five of our cash management composites. We have supplied this list to hundreds of prospective clients over the past few years. Does this qualify as an error?
The offer to provide the list and description of composites is a required disclosure. Therefore, the list and description of composites is directly related to a compliant presentation. The omission of five of the firm’s composites from the required list and description of firm composites must be treated as an error, and the firm’s established error correction policies and procedures must be followed.
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