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Explanation:
Explanation:
Option A is incorrect because while a firm may voluntarily engage an independent third party to verify compliance for increased confidence, it is not a requirement under GIPS standards.
Option B is correct because firms claiming compliance with GIPS standards must self-regulate and maintain their compliance, regardless of third-party verification.
Option C is incorrect because portfolio inclusion criteria for composites should be determined on an ex-ante basis, not after the reporting period.
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A firm claiming compliance with GIPS standards is required to:
A
Conduct verification of the firm's compliance claim.
B
Ensure ongoing compliance even after independent third-party verification.
C
Establish criteria for portfolio inclusion in a composite post-reporting period.