Guidance Statement on the Use of Supplemental Information19
Revised Effective Date: 1 January 2006 Adoption Date: 1 October 2003 Effective Date: 1 January 2004 Retroactive Application: Not Required Public Comment Period: Aug-Nov 2002
GUIDANCE STATEMENT ON THE USE OF SUPPLEMENTAL INFORMATION (REVISED)
In preparing performance reports, firms must keep in mind the spirit and objectives of the Standards: fair representation and full disclosure. Meeting the intent of the Standards may necessitate including information in the performance reports beyond the required and recommended provisions of the Standards to adequately cover the firm’s specific situations. Firms that claim compliance with the Standards are encouraged to present all relevant information, beyond that required and recommended in the Standards, to fully explain their performance.
What is Supplemental Information?
Supplemental Information is defined as any performance-related information included as part of a compliant performance presentation that supplements or enhances the required and/or recommended disclosure and presentation provisions of the GIPS standards. Supplemental Information should provide users of the composite presentation with the proper context in which to better understand the performance results. Because Supplemental Information could have the potential to be misleading in relation to the firm’s claim of compliance, this Guidance Statement defines and addresses the ...