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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Archived

Effective: 1 March, 2006 - 31 October, 2012

Categories: Assimilating Assets

Source: GIPS Handbook, 2nd Edition

Firm A currently 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 Standards by 1 January 2001 (similar to the treatment of the acquisition of a new account).

Please also see updated Q&A