GIPS in Ukraine. Ukraine has adopted Global Investment Performance Standards, therefore, local firms operating in investment industry are subject to respective rules and regulations.

To gain customers’ trust. Verification portrays honesty and desire to gain the trust of clients and prospects.

To be more marketable. Most, if not all, RFPs sent by consultants and prospects inquire about compliance and verification.

Peace of mind. Oftentimes, managers believe their current performance presentations may not accurately and fairly depict the performance of their strategies.

To save time. Many managers may waste time with performance reporting because they have insufficient internal controls and lack proficiency with available software systems.

The SEC. The SEC in general is increasingly scrutinizing claims of GIPS compliance and performance presentations.

The CFA. The CFA Institute strongly encourages verification. Beginning 2011, firms will be obliged to indicate whether they have been verified by a third party when reporting their investment performance results.

The “YES” answer. Most, if not all, electronic manager databases query GIPS compliance and verification.