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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Archived

Effective: 1 March, 2006 - 31 October, 2012

Categories: Inception Date, Partial Period Returns

Source: GIPS Handbook, 2nd Edition

Provision 5.A.1.b requires the presentation of annual returns for all years. My firm was just created this year and as such, does not yet have any annual returns. Can my firm claim compliance with the Standards now or must we wait until we have at least one annual return?

The firm may claim compliance as soon as it meets the requirements of the Standards and has performance to report. Provision 5.A.1.a requires at least 5 years of performance (or a record for the period since firm inception, if inception is less than five years) that is compliant with the GIPS standards. This provision is not intended to prevent a new firm from complying with the Standards until it has an entire twelve month period of performance. If the firm is less than twelve months old, it is permitted to present its performance since inception and claim compliance.

Please also see updated Q&A