Page 25 - FINAL CFA SLIDES JUNE 2019 DAY 1
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LOS 5.a: Describe the key features of the 5. The GIPS Standards
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.
