An investment management firm, Investco, Inc., was recently audited by the United States Securities and Exchange Commission (SEC). Investco included the following statement in its performance presentation report: "This report has been verified as GIPS compliant by Investco's Compliance Department and the United States Securities and Exchange Commission." Does this constitute acceptable verification under GIPS?

A.No,only one party may perform GIPS verification.

B.No,neither party involved in the audit constitutes an acceptable GIPS verification.

C.Yes,because an audit was performed implicitly by the SEC and explicitly by the firm's audit team.