CFA Practice Question
Which one of the following statements about GIPS verification is least accurate?
A. Verification is a pre-requisite for conducting a global investment management business.
B. Verification performed by an independent third party brings credibility to a claim of compliance.
C. Verification reviews whether a firm is compliant on a firm-wide basis and whether the construction of all the composites follows GIPS requirements.
Explanation: Verification is not required but is strongly recommended. It is not a requirement for conducting investment business.
User Contributed Comments 2
| User | Comment |
|---|---|
| MarcCFA | GIPS verification - pre requisite for operating globally |
| stevenseb | Tricky- I misread "least accurate"! |