The question is simply asking which are fundamental of compliance which an investment management firm will follow in order to say they are GIPS complaint
The first recommendation 1 is saying the firm should be verified.In order to claim compliance of GIPS the firm should verify by independent third party
The firm should adopt the broadest definition of the firm n order to claim compliance
The third recommendation is saying that composite performance is updated annually which is not correct the firm should update the composite every quarter
The question is simply asking which are fundamental of compliance which an investment management firm will follow in order to say they are GIPS complaint