The verification procedures suggested in the AIMR standards may not be sufficient to render an opinion.
As required under the attestation standards, before beginning such an engagement, a practitioner should have or develop expertise in the area of AIMR Performance Presentation Standards.
A summary of departures from the AIMR Performance Presentation Standards the investment manager has adopted in the performance composite information;
This document should also include a summary of specific departures from AIMR Performance Presentation Standards.
The AIMR encourages presenters to engage an independent party to attest that one or both presentations are in conformity with PPS.
AlthOugh an investment manager or advisor may also present a written report asserting that they believe the statement(s) conform with AIMR PPS, such a report is not mandatory because this assertion is implicit in the statement(s) themselves.
Although the AIMR report containing the PPS provides some suggested "verification" procedures, practitioners should recognize that such procedures are illustrative and may not be sufficient to express an opinion.