Wednesday, January 6, 2010
Presentations versus presentations
While GIPS speaks about "presentations," we mean the presentation that provides the firm's records in accordance with GIPS. Compliant firms are required to make every reasonable effort to ensure that all prospects receive a fully compliant presentation (a noun). BUT, this doesn't have to do with the presentation (a verb) that firms often conduct with clients. Firms have a great deal of leeway in what they show, though we expect that they provide adequate supporting information and disclosures so that prospects fully understand what they show; can't mislead your prospect. But, their "GIPS presentation" (again, a noun) doesn't need to be part of their presentation (verb). Make sense? Okay, perhaps I'm mistaken by saying that the latter is a verb; my point is that it involves action (making a presentation) as opposed to a physical document (handing someone a presentation; in this case, a document).
Yet just another commonly used word that causes some confusion.