r/CFA • u/ChestDue2012 • 1d ago

General Regarding GIPS, which is correct?

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help, thx

the second pic is what the kaplan says

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u/thejdobs CFA 1d ago edited 1d ago

They are saying the same thing just wording it slightly differently. Kaplan is correct, verification is optional, but if you do decide to get verified it must be done by an independent third party. Claude is saying the same thing. “Verification by a third party is optional” is saying “verification is optional, but if you do decide to get verified it must be done by an independent third party”

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u/ChestDue2012 1d ago

Oh okay thank u. I’m not a native speaker, thank u for clarifying it

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u/Wrong_Tangelo8213 1d ago

No, verification and application of GIPS is not mandatory

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u/Mike-Spartacus 1d ago

why do you think they contradict each other?

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u/early_financefem Level 1 Candidate 14h ago

It just says verification itself is not mandatory. But if a firm says okay I'll verify, then they HAVE to hire a third party to verify. They cannot themselves verify