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GIPS - Performance Measurement Standards

Hi,
Book 2010 says ” it’s important to note that beginning 1/1/2010, firms that use approximation methods such as the modified Dietz method…will not be in compliance with the GIPS when the Standards will LIKELY require the use of calculation methods that require valuations at the time of every external cash flow”
Can anybody confirm me that it is now required now (not highly recommended anymore) to have valuations at the time of every external cash flow (in or out)? and the daily valuation method is required too?

This is absolutely required as of 1/1/10. You need to have valuations at the time of all SIGNIFICANT cash flows. The definition of ‘significant’ is up for interpretation, but generally it must be defined by the firm and applied consistently (i.e. 10% of MV is generally significant).

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