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.
Search by category, status, date range, and/or keyword.
ArchivedEffective: 1 March, 2006 - 31 August, 2013Categories: VerificationSource: GIPS Handbook, 2nd Edition
Investment Firm XYZ contracted with a verification firm to have its claim of compliance verified. After performing their work, the verifiers concluded that they could not issue a verification report to Firm XYZ, as they do not believe that Firm XYZ is in compliance with the GIPS standards firmwide. The verifiers issued a statement to Firm XYZ confirming why they would not issue a verification report. What does Firm XYZ need to do?
Firm XYZ must consider whether its claim of compliance is proper. The firm should carefully consider the issues presented by the verification firm and determine how to resolve them, as necessary, to assure its claim of compliance is appropriate.
Please also see updated Q&A