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 January, 2006 - 31 December, 2019Categories: VerificationSource: Guidance Statement on Verifier Independence
In addition to performing a firmwide verification, our verifier also performs a Performance Examination on one composite. The Performance Examination report will include a compliant presentation for the one examined composite. Can the verifier produce the compliant presentation for this composite?
The verifier may not assume the responsibility for creating or producing a composite presentation for the investment management firm. The investment management firm must first provide a compliant presentation to the verifier. Once the Performance Examination is completed (based on the composite presentation provided by the investment management firm), the verifier may reformat/redesign the data from the compliant presentation in a separate document to be provided to the investment firm as part of its Performance Examination Report. Simply performing word processing and duplication functions does not impact the verifier’s independence.