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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Effective

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Archived

Effective: 1 January, 2006 - 30 April, 2010

Categories: Verification

Source: Guidance Statement for Verification (Revised)

What requirements must a verifier meet in order to be able to perform a GIPS verification?

Any third-party that is knowledgeable about the Standards, investment performance measurement, portfolio accounting, and investment management and is independent from the investment management firm may perform a verification; independent and knowledgeable are the key words. The Guidance Statement on Verifier Independence discusses in more detail the notion of independence. While firms are encouraged to conduct a “self-check” of their compliance, perhaps by their internal audit department, this would not constitute a verification: an investment management firm’s internal audit department is not independent from the investment management firm.

Please also see original Q&A
Please also see updated Q&A