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There seem to be so many standards in GIPS, some are very similar and the only difference is just must vs should and with all the date differences (e.g. prior to Jan 08, Jan 2010, Beginning of Jan 2011, etc) and requirements (e.g. if more than 6 portfolios in the composite then; prior to Jan 12 once every 3 yrs, after Jan 12 once every year unless agreed by client then once every 3 yrs, etc).
Are we required to memorise them all? Any tips?