GIPS® Error Correction Survey Results Released

March 2, 2015 by  
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The United States Investment Performance Committee (USIPC), in conjunction with CFA Institute, recently conducted a survey to seek input on error correction policies and procedures used by firms that comply with the Global Investment Performance Standards (GIPS®). The purpose of the survey was to inform the investment industry on how firms develop and administer their GIPS® standards compliance programs with respect to such policies and procedures.

 

The survey covered a range of error correction related topics including:

  • Are error correction policies being applied on a composite-specific or firm-wide basis?
  • Are performance errors being evaluated in absolute terms or relative terms?
  • Are non-performance related errors being addressed in error correction policies?
  • What are typically materiality thresholds being applied for various asset classes?

 

An executive summary that analyzes the results of the survey is available on the GIPS® Standards Website.

This is a great opportunity to examine your error correction policies and procedures to confirm they are adequate.

For more information, please contact us at info@CompliantPerformance.com.