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 January, 2006 - 31 December, 2019
    Categories: Verification
    Source: Guidance Statement on Verifier Independence

    As defined in the Guidance Statement on Verifier Independence, what are “management functions?”

    In the context of this Guidance Statement, “management functions” are tasks and responsibilities that are directly related to the GIPS-compliance process. Management functions include, but are not limited to:

    • Identifying all portfolios of the firm;
    • Assigning accounts to composites;
    • Determining firm definition;
    • Determining discretion definition and/or status;
    • Creating composite criteria;
    • Establishing policies and procedures;
    • Calculating account- and composite-level returns; and
    • Preparing compliant composite presentations