Could anyone please tell me under what specific reading GIPS is listed in the CFAI curriculum? I scanned through all titles of the entire 32 Readings (especially those on Ethics) but couldn’t see any that listed GIPS. Maybe I am getting old though.
One thing what is a bit confusing and pretty silly to me about GIPS. If some of those measures or methods were applied sometimes in the history of application of GIPS and for some reason such criteria or method is no longer valid, why we need to know that such approach once existed and at least to know how to apply such aged approach. Isn’t is same as we would forced to know the rules of trading or asset validation approach from Reagan era or Napoleon Bonaparte era which are,BTW, out of use for at least 20-50 years.
If any of the dates when changes were made are less than 10 years in the past, then composites for which a 10-year history is presented may have some calculations done using the old methods; an analyst should understand that and be able to adjust the calculations to the current methods.