Assume that on January 1, 2005, Everest Investments, a 10yearold firm with no GIPScompliant performance history plans to claim compliance with the GIPS. Which of the following is the most appropriate course of action for Everest?

a) Present GIPScompliant performance for the period from January 1, 2001, to December 31, 2004, and link nonGIPScompliant performance for the period from January 1, 1995, to December 31, 2000, to its GIPScompliant performance, and disclose why the earlier years are not GIPS compliant.

b) Present GIPScompliant performance, at a minimum, for the 10year period from January 1, 1995, to December 31, 2004.

c) Present GIPScompliant performance, at a minimum, for the 5year period from January 1, 2000, through December 31, 2004, and present an additional year of performance each year, building up to a minimum of 10 years of GIPScompliant performance.