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The primary purpose of verification is to establish that a firm claiming compliance with the GIPS standards has adhered to the standards. Verification also increases the understanding and professionalism of performance measurement teams and consistency of presentation of performance results.

Today, verification is strongly encouraged. StatPro has worked closely with a number of verifiers as the standards have developed over the years, and many features of StatPro Composites have been written with the needs of verification in mind.

Carl Bacon, before moving to become the Chair of the Interpretations sub-committee of the IPC, was the Chair of the verification sub-committee of the IPC and says:

"Although outside of the UK verification is not yet mandatory, I have always believed that the independent third party verification of an asset manager’s claim of compliance is an essential part of the GIPS process. Any manager making a claim of compliance without independent verification is taking a major risk... Verification not only helps to ensure the appropriate documentation and procedures are in place and compliant but will also point out potential weaknesses in the performance measurement process. Verification adds credibility to the asset manager’s claim of compliance; in fact some clients require it".

Verifiers that StatPro has worked with in the past and are pleased to recommend:

	HSBC Securities Services Limited is part of the HSBC Group, one of the world’s largest financial services organisations.
	Investit provide focused and experienced specialised advice, project management, research and people exclusively to the investment management industry.
	KPMG provides a full range of services to assist Firms with the implementation of GIPS as well as providing verification of compliance with GIPS and all country versions of the standards.
	Ashland Partners & Company LLP was founded in 1992 for the purpose of providing verification services to the investment management industry.
	PricewaterhouseCoopers LLP is a global leader in providing independent performance measurement services to investment management firms and their service providers.
	The Spaulding Group (TSG) has evolved into the primary source for information and education in the investment performance measurement industry.
	WM Company is a provider of performance measurement and investment administration services. WM's GIPS service is tailored to clients' specific needs and encompasses pre-verification checks, compliance consultancy and verification reporting for GIPS and local country standards.