Gaining clarity

I don't know about you, but I was a bit confused by the GIPS(R) (Global Investment Performance Standards) requirement that compliant firms must disclose that additional information regarding policies to calculate and report returns is available upon request (see ¶ 4.A.17 of the 2005 edition). What does "report" mean? Reporting to clients? Prospects?

Well, the 2010 edition makes this much clearer. Compliant firms will be required to disclose that their policies to value portfolios, calculate performance, and prepare compliant presentations are available upon request (see ¶ 4.A.12 of the 2010 edition). This means that  you need to have such policies, and so if you don't, it's time to begin to work on them!