Valuation is a top growing niche in advisory services, and it’s relevant to a broad population of accounting and finance professionals. To meet the needs of our members and their firms, and to raise awareness of the Accredited in Business Valuation (ABV) credential and the prominence of ABV credential holders, AICPA Council voted unanimously on May 22, 2018 to extend eligibility to qualified finance professionals.
Q: What is the ABV credential?
A: Currently, the Accredited in Business Valuation (ABV) credential is offered exclusively to CPAs who practice business valuation in the areas of tax, litigation, financial reporting, transactions or ESOPs.
Q: What is the current pathway for CPAs?
A: CPAs are required to obtain 75 hours of valuation-related education, complete 150 hours of business valuation work experience and pass the ABV Examination. The AICPA offers a variety of options for obtaining valuation-related education.
Q: What are the benefits of being an ABV credential holder?
A: Clients and potential clients can trust that ABV credential holders have the competencies to provide premier valuation services. Credential holders have access to a community of valuation professionals with similar interests and practices. The AICPA offers ABV credential holders free membership to the FVS Section which includes practice aids, webcasts, newsletters, discounts and more.
Q: What is the new pathway the AICPA recently approved, and who will be eligible?
A: At a minimum, finance professionals will be required to hold a college degree, complete 75 hours of business valuation education, pass the ABV Exam and demonstrate 1,500 hours of business valuation experience. Finance professionals will also be required to complete a training program on the AICPA Code of Professional Conduct and Statements on Standards for Valuation Services No. 1 (VS Section 100). All ABV credential holders are required to complete 20 hours of continuing professional development (CPD) within the credential body of knowledge annually.
Q: Why was the new pathway approved?
A: Opening the pathway for the ABV credential helps to promote consistency, quality and transparency in the valuation marketplace. Firms are looking for a single organization that can provided appropriate training, credentialing and ongoing support for all their employees, including CPAs and financial professionals. With this additional pathway, both CPAs and financial professionals will follow the same professional ethics and valuation standards as they perform business valuations.
We will begin accepting applications from qualified finance professionals soon. In the meantime, if you have any questions or comments, please emails us at email@example.com.