GIPS-compliant performance at least 5 or 10 years? additional, difference, standards, actually, building

John10

I am actually a bit confused:

"The GIPS standards require that at least 5 years of GIPS-compliant performance be reported. After presenting a minimum of 5 years of GIPS-compliant performance, the firm must present an additional year of performance each year, building up to a minimum of 10 years of GIPS-compliant performance." (I.5.A.1a)

doesn't it simply mean that it requires at least 10 years of GIPS-compliant performance??? I don't get the difference between the 1st and 2nd sentences...



Edited 1 time(s). Last edit at Saturday, May 14, 2011 at 02:04AM by -272Celsius.