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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Archived

Effective: 1 July, 2007 - 31 December, 2019

Categories: Recordkeeping

Source: GIPS Executive Committee

What events would qualify as a catastrophic event, and would exempt a firm from recordkeeping requirements?

A catastrophic event is an extreme circumstance beyond the control of the firm, and would include natural disasters such as floods and earthquakes. Other catastrophic events that are not natural disasters would include fire or terrorist attack. Events within the control of the firm, such as a change in IT systems, do not qualify as catastrophic events.