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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Effective

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1 Result

Archived

Effective: 1 September, 2001 - 31 October, 2012

Categories: Consultant Questionnaires

Source: Investment Performance Council (IPC)

Consultant questionnaires often require managers to fill in quarterly performance charts. The questionnaires then ask the manager to indicate whether or not the numbers presented in the chart have been prepared in accordance with the GIPS standards. How should a firm respond to these questions?

To claim compliance, the firm must meet the requirements of the GIPS standards on a firmwide basis. Presentations claiming compliance must meet each requirement of the Standards including disclosure requirements. Performance results cannot be “in compliance” unless all the requirements of the Standards are met. Questions regarding whether returns “are prepared” in compliance with the Standards demonstrate a misunderstanding of the meaning of being in compliance with the GIPS standards. However, if the performance numbers used to answer questionnaires are from a GIPS compliant presentation and a GIPS compliant presentation is attached, then the manager can state the information provided is in compliance.

Please also see updated Q&A