Guidance Statement Process

Guidance Statement Development

We develop new Guidance Statements to:

  • Respond to questions that raise new and novel issues beyond the scope of simple application of the Standards
  • Provide additional interpretation and clarification
  • Incorporate all applicable, existing interpretations published on a subject
  • Consolidate all applicable information

Public Comment Period

Proposed provisions and Guidance Statements are available here for public comment for 90 days:

Exposure Draft of the Guidance Statement on Benchmarks (PDF)
The public comment period closed 29 January 2018
Comments Received

Exposure Draft of the Guidance Statement on Overlay Strategies (PDF)
The public comment period closed 27 November 2017
Comments Received

Exposure Draft of the Guidance Statement on Verifier Independence (PDF)
The public comment period closed 26 October 2017
Comments Received

Exposure Draft of the Guidance Statement on Risk (PDF)
The public comment period closed 26 September 2017
Comments Received

Exposure Draft of the Revised Guidance Statement on the Use of Supplemental Information (PDF)
The public comment period closed 28 February 2017
Comments Received

After the 90-day period is complete, the subcommittee reviews the comments and modifies the proposal as needed. Then the subcommittee presents the proposal to the Executive Committee for formal approval.

Approval and Publishing

Approved provisions and Guidance Statements are then published on our current guidance page. Each Guidance Statement has an effective date, after which firms must adhere to the new guidance.

The Executive Committee only approves new or revised GIPS provisions and Guidance Statements, including revisions to the governance process and documents for the GIPS Executive Council, Technical Committee, and Subcommittees during their public meetings.