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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Archived

Effective: 1 November, 2012 - 31 December, 2019

Categories: Inception Date, Partial Period Returns

Source: GIPS Handbook, 3rd Edition

The GIPS standards require the presentation of annual returns. My firm was just created this year and, as such, does not yet have any annual returns. Can my firm claim compliance with the GIPS standards now or must we wait until we have at least one annual return?

If the firm is less than 12 months old, it is permitted to present its performance since firm or composite inception and claim compliance with the GIPS standards. The firm may claim compliance as soon as it meets the requirements of the GIPS standards and has performance to report. The GIPS standards require at least five years of performance (or a record for the period since firm inception or the composite inception date, if the firm or composite has been in existence less than five years) that meets the requirements of the GIPS standards. This provision is not intended to prevent a new firm from complying with the GIPS standards until it has an entire 12-month period of performance. Returns for periods of less than one year must not be annualized.

Please also see original Q&A