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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ArchivedEffective: 1 November, 2006 - 31 December, 2019Categories: Assimilating AssetsSource: GIPS Handbook, 3rd Edition
Firm A claims compliance with the GIPS standards. On 31 December 1999, Firm A acquires Firm B, which does not claim compliance with the GIPS standards. Must Firm A stop claiming compliance until all of the assets acquired from Firm B are brought into compliance?
No. Firm A can continue to claim compliance with the GIPS standards provided that it incorporates all of the acquired assets of Firm B and brings them into compliance with the GIPS standards within one year of the date of acquisition by Firm B – by 1 January 2001 (similar to the treatment of the acquisition of a new account).
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