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 - 31 October, 2012Categories: Definition of the FirmSource: GIPS Handbook, 2nd Edition
Firm A is a multinational investment firm, with offices around the world including Japan, Australia, the U.K. and the U.S. Although all of its offices are part of the global parent, each office is registered with the appropriate national regulatory authority and each is held out to clients and potential clients as a distinct business entity. Firm A (U.S.) claims compliance with the GIPS standards. What should the definition of the firm disclosure be?
Sample Disclosure: “Firm A is defined as an independent management firm with offices in Japan, Australia, the U.K., and the U.S. Firm A (U.S.) is a subsidiary of Firm A serving U.S. clients. Firm A also has subsidiaries in the U.K., Australia, and Japan.”
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