GIPS compliance

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Five elements of GIPS compliance do not include:

  • Firm definition
  • Policies and procedures for compliance must be documented,
  • Updates to GIPS must be complied with,
  • Claim of compliance must be made in the appropriate manner
  • Verification of compliance must be stated appropriately.

Mnemonic[edit]

Feeding Pizzas Until Client Vomits

FPUCV Firm definition
Policies and Procedures for compliance must be documented
Updates to GIPS must be complied with
Claim of compliance must be made in the appropriate manner
Verification of compliance must be stated appropriately.

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