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
  • Archived

    Effective: 1 March, 2006 - 31 December, 2019
    Categories: Definition of the Firm
    Source: GIPS Handbook, 2nd Edition

    Company B is a multinational investment firm, with offices around the world including Japan, Australia, the United Kingdom, and the United States. Although all offices are part of the global parent, each office is registered with the appropriate national regulatory authority. Company B in Japan is ready to comply with the GIPS standards. However, Company B in the U.S. cannot claim compliance at this time. Can Company B in Japan claim compliance with the GIPS standards?

    Company B in Japan may be able to claim compliance with the GIPS standards if it can be defined as a separate “firm” for the purposes of the GIPS standards, even though it is part of a multinational firm. Company B in Japan can define itself as a firm if it is held out to clients or prospective clients as a distinct business entity. Company B in Japan must disclose the definition of the firm in its compliant presentations. This definition should clearly state that for the purpose of claiming compliance with the GIPS standards, the firm is Company B in Japan so that the prospective client would not assume that any other part of Company B is claiming compliance with the GIPS standards. Company B in Japan would also be encouraged to disclose that the defined firm is a subsidiary of a larger parent company.