Which of the following best describes a requirement for firms to comply with GIPS standards?

A. Firms must present all individual performance figures to clients, including those that are hypothetical or back-tested.. B. Firms must adhere to the specific performance calculation and presentation standards prescribed by GIPS.. C. Firms are required to verify their GIPS compliance through a third-party auditor every year.. D. Firms must ensure that all employees receive GIPS training annually..

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Explanation

GIPS requires firms to follow its specific guidelines on how performance should be calculated and presented to ensure consistency and comparability.

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Which of the following best describes a requirement for firms to comply with GIPS standards?