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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1 Result
  • Current

    Effective: 1 June, 2008
    Categories: Error Correction
    Source: Guidance Statement on Error Correction

    An error occurred that we had not previously considered when drafting our firm’s error correction policies and procedures. Can we change or add to the error correction policies and procedures?

    A firm may change its error correction policies and procedures on a prospective basis. A firm should write procedures broadly to retain the flexibility of addressing errors that might not have been considered when originally drafting them. Firms must maintain all policies and procedures (both current and previous versions) that support the claim of compliance.