Verification is intended to provide additional confidence in an entity's claim of compliance with the Global Investment Performance Standards (GIPS®). Verification is a process by which a verification firm (verifier) conducts testing of a firm on a firm-wide basis, or an asset owner-wide basis, in accordance with the required verification procedures of the GIPS standards. The GIPS standards recommend that firms and asset owners be verified.
2020 GIPS Standards for Verifiers (PDF)
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Benefits of Verification
- Verification provides assurance on whether the firm's or asset owner's policies and procedures related to composite, pooled fund, and total fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide or asset owner-wide basis.
- Verification may result in improved internal policies and procedures.
- Verification may provide marketing advantages to a firm.
- Verifiers can provide expert advice for implementing the GIPS standards and applying them to specific scenarios.
- A firm's verification status can be an important factor in manager selection.
Tools and Resources
The following documents were created to help those who perform verification and performance examinations understand the requirements contained in the 2020 GIPS Standards for Verifiers.
Guidance Statement on Verifier Independence (PDF)
Guidance Statement on Verifier Independence Adopting Release (PDF)
GIPS Standards for Verifiers Adopting Release (PDF)
GIPS® Trademark Usage Guidelines
" is a registered trademark of CFA Institute. The GIPS®
Trademark should be used in accordance with the GIPS® Standards Trademark Usage Guidelines