Firms may link a non GIPS compliant performance record their compliant hisotry so long as no noncompliant performance is presented after 1 1 2000 firms that previously presented performance in compliance with a country GIPS may claim GIPS compliance for any CVG compliant results prior to 1 1 2006. what does thess mean?
as long as they present the minimum of 10 years compliance, they can attach any history of noncompliance as along as it was not after 2000.
Northeastern Student Wrote: ------------------------------------------------------- > as long as they present the minimum of 10 years > compliance, they can attach any history of > noncompliance as along as it was not after 2000. so, does this mean that They can present compliant and non compliant performance in one report?
Yes
Northeastern Student Wrote: ------------------------------------------------------- > Yes also, could u explain the second rule? they are “Granted reciprocity” for period prior to 1 1 2006? what does this mean?
anyone? the second part ?
for the second part: firms that were compliant with the Investment Performance Council-endorsed Country Version of GIPS (the CVG), can continue to use those compliant results to present periods before 1 January 2006. After that, they need to use the updated GIPS standards.
Bump Something that slipped my mind, another tricky GIPS question: Noncompliance with GIPS = must be after year 2000 Compliance with GIPS in another country = can be before 2006 (up to 10 years) afterwhich, updated GIPS standards need to be used. Not sure how likely these types of questions will appear on an exam, but good to know nonetheless.