Subject 4. Verification
#cfa #cfa-level-1 #ethical-and-professional-standards #reading-3-introduction-to-gips
Verification refers to the independent review of a firm's performance measurement processes and procedures. Verification applies to the firm as a whole, not to individual composites.
Verification tests:
- Whether the firm has complied with GIPS composite construction requirements on a firm-wide basis.
- Whether the firm's processes and procedures are designed to calculate and present GIPS-compliant performance results.
Again, the focus of verification is not on individual composites, but on the processes the firm follows to form composites and calculate and report performance.
At this point, verification is not mandatory, but it is strongly recommended. Firms may claim compliance, but independently-verified compliance adds credibility to those claims. It is recommended that firms have all years for which they are claiming compliance verified.
If you want to change selection, open original toplevel document below and click on "Move attachment"
Summary
| status | not read | | reprioritisations | |
|---|
| last reprioritisation on | | | suggested re-reading day | |
|---|
| started reading on | | | finished reading on | |
|---|
Details