by admin | Jul 11, 2011 | GIPS, Global Investment Performance Standards, verification
A firm we consulted to a few years ago responded to one of our marketing pieces about verification, wondering if they should make the investment to undergo this exercise. They have claimed compliance with the Global Investment Performance Standards (GIPS(R)) for some...
by admin | Jul 7, 2011 | examinations, GIPS, Global Investment Performance Standards, verification
There is little doubt in my mind that if Bernie Madoff were to be given a copy of the proposed changes to the Guidance Statement on Performance Examinations he would pat himself on the back, and be quite proud that his nefarious actions have extended so far.At the...
by admin | Jun 21, 2011 | error correction, GIPS, Global Investment Performance Standards
GIPS(R) (Global Investment Performance Standards) compliant firms are now required to have an error correction policy. This calls for firms to establish rules for materiality, something many struggle with from a definitional perspective.The CFA Institute’s...
by admin | Jun 14, 2011 | GIPS, Global Investment Performance Standards
I conducted a pre-verification for our newest London client yesterday, and they asked a very interesting question: can they disclose their “Total Strategy Assets,” along with the composite and firm assets, in their GIPS(R) (Global Investment Performance...
by admin | Jun 10, 2011 | GIPS, Global Investment Performance Standards
The GIPS 2010 Exposure Draft sought to obtain a consensus to build a case to establish sunset provisions for certain required disclosures (e.g., name or strategy changes to composites) for GIPS(R) (Global Investment Performance Standards). And we are aware that some...
by admin | Jun 8, 2011 | GIPS, Global Investment Performance Standards
There was an editorial (The Light Bulb Police) in yesterday’s Wall Street Journal that spoke of the upcoming ban in the U.S. on conventional 100 watt incandescent light bulbs. One sentence in particular grabbed my attention: “The question an (allegedly)...