麻烦老师讲下

问题如下：

Is WCM most likely correct in claiming compliance based on the verification report?

选项：

No, because of the level at which verification is claimed.

Yes.

No, because of the time frame for which verification is claimed.

解释：

A is correct. For GIPS compliance, a single verification report must be issued with respect to the whole firm. Verification cannot be carried out only on a composite and, accordingly, does not provide assurance about the investment performance of any specific composite. The Standards stress that firms must not state or imply that a particular composite has been “verified.”

B is incorrect.

C is incorrect. The minimum initial period for which verification can be performed is one year, or from the firm’s inception date through the period-end if that timeframe is less than one year. The standards recommend (but do not require) that verification cover all periods for which the firm claims compliance.