Page 42 - CFA - Day 1 & 2 Course Notes
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LOS 5.a: Describe the key features 5. The GIPS Standards
of the GIPS standards and the
fundamentals of compliance.
Key Characteristics of GIPS
GIPS contain both required and recommended provisions—firms are
encouraged to adopt the recommended provisions.
Firms are encouraged to present all pertinent additional and supplemental
information.
There will be no partial compliance and only full compliance can be claimed.
Follow the local laws for cases in which a local or country-specific law or
regulation conflicts with GIPS, but disclose the conflict.
Certain recommendations may become requirements in the future.
Supplemental private equity and real estate provisions contained in GIPS are to
be applied to those asset classes.
