PTN, Inc., is an investment consulting firm. It has used Global Investment Performance Standards (GIPS) since its inception two years ago. PTN claims to be in compliance with GIPS. Could this statement be CORRECT?
A) Yes, PTN does not have a five-year track record, so since inception is sufficient.
B) No, consulting firms cannot be GIPS compliant.
C) No, PTN does not have a five-year compliance track record.