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Basic Question 3 of 3
Which statement(s) is (are) false?
II. Firms that have been verified can add a disclosure to composite presentations stating that the firm has been verified.
III. By undergoing verification, a firm may improve its internal policies and procedures with regard to all aspects of complying with GIPS standards.
I. Although verification must be performed with respect to an entire firm, different verification reports can be issued for different composites.
II. Firms that have been verified can add a disclosure to composite presentations stating that the firm has been verified.
III. By undergoing verification, a firm may improve its internal policies and procedures with regard to all aspects of complying with GIPS standards.
User Contributed Comments 3
| User | Comment |
|---|---|
| To-be-CFA | Verification applies to firm on whole, and not to individual composites. |
| raffrobb | II AND III are true. |
| tybe0012 | verification is an all or nothing deal. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
describe the concept of independent verification
CFA® 2025 Level I Curriculum, Volume 6, Module 4.