Pretty straightforward aspect of Disclosure.
If a firm chooses NOT to be verified, then page 350 of the CFAI curriculum clearly states the firm NEEDS to 1) State they claim compliance with GIPS and have prepared the report on compliance with GIPS standards, AND 2) State that they have NOT been independently verified. AND THEY HAVE TO DO BOTH!
I knew that, and then somewhere in my mock exams, I got an answer “incorrect” in this regard, because apparently “there is not a specific need to state if you have not been independently verified”.
Now I’m just skimming through Reading 6 prior to my exam tomorrow and I see page 350 of the curriculum again that is a direct contradiction.
Strangely, I think that question was from one of the Boston Mocks as well (if I’m not mistaken), which adds to the frustration.
Can anyone clarify this? My gut is obviously to go with what the curriculum actually says, but I’m so unsure now. IF this shows up on the exam, it should be easy points, so I’m really frustrated at the clearly contradictory information I have seen.
Any clarity would be helpful. Thanks