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 March, 2006 - 30 November, 2013Categories: Definition of the FirmSource: GIPS Handbook, 2nd Edition
Firm A changed its legal status from a partnership to a corporation. As of what date should the new firm start reporting performance?
A change in legal status typically will not result in a new firm for purposes of compliance with the Standards. If the boundaries for Firm A remain unchanged, the performance history remains unchanged. If, however, the change in legal status results in new boundaries for Firm A, the firm will disclose the date and reason for the redefinition (see Provision 4.A.21). The firm must also review Provision 5.A.4 for applicability.
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