In June 2001, Munder Capital Management made the decision to become compliant with the Performance Presentation Standards of the Association for Investment Management and Research (AIMR-PPS), the U.S. and Canadian version of the Global Investment Performance Standards (GIPS). (AIMR has since changed its name to the CFA Institute.) This article highlights the important lessons learned during the process. Obviously, the issues involved in becoming and remaining compliant will differ from one firm to the next. Nonetheless, it is the author's conviction that the sharing of experiences among investment firms will help all of us achieve and maintain compliance with the standards in the most efficient way possible.