As adoption of the GIPS standards has grown over the years, ACA has seen compliance personnel take a much deeper interest in ensuring their firms meet every requirement. In the GIPS standards’ early stages of acceptance, compliance initiatives at a firm were driven mostly by the marketing or business development departments. They viewed GIPS compliance as a pathway to gaining a competitive advantage and market differentiation. Over time, though, the monitoring and maintenance of GIPS compliance programs has gradually shifted to compliance departments.
This paper will highlight the concerns that compliance officers should monitor closely.