What are the Professional Designations for Business Appraisers?
There are five leading Business Appraisal organizations, who have their own standards, membership, and designations.
The Institute of Business Appraisers (IBA)
On their website, located at www.go-iba.org, it is stated that “The Institute of Business Appraisers is the oldest professional society devoted solely to the appraisal of closely-held businesses. Established in 1978, the Institute is a pioneer in business appraisal education and professional accreditation.” The IBA offers a number of educational programs and services including a large transactional database of sales information concerning small to medium sized businesses. They offer programs leading to the following designations: Accredited by IBA (AIBA), Certified Business Appraiser (CBA), Business Valuator Accredited in Litigation (BVAL), and the new Accredited in Business Appraisal Review (ABAR) designation A link to the IBA’s profile on their website is found here: www.go-iba.org/overview.html
National Association of Certified Valuation Analysts (NACVA)
On their website, located at www.nacva.com, the NACVA, founded in 1991, states: “NACVA’s mission is to provide resources to members and to enhance their status, credentials, and esteem in the field of performing valuations, financial forensics, and related specialty advisory services. To further this purpose, NACVA will advance these services as an art and science, establish standards for membership in the Association, provide professional education and research, foster practice development, advance ethical and professional practices, enhance public awareness of the Association and its members, and promote working relationships with other professional organizations.” The NACVA offers the following designations: Certified Valuation Analyst (CVA), Accredited Valuation Analyst (AVA), and Certified Forensic Financial Analyst (CFFA).
The NACVA claims to have trained over 17,500 CPAs and other valuation and consulting professionals in an organizational brochure, a link to which is found here: www.nacva.com/PDF/association_brochure.pdf
The American Society of Appraisers Business Valuation (ASA-BV)
On their website, located at www.asabv.org, the ASA-BV describes itself as: “an international organization of appraisal professionals. ASA-BV members represent all disciplines, including business valuation. Business appraisers value businesses, business ownership interests, and securities for businesses of all sizes. They also value specific intangible business assets such as patents, trademarks, employment agreements, copyrights and goodwill.” The American Society of Appraisers offers two designations: the ASA and the AM (Accredited Member). Further information on these designations can be found by clicking on the following link: www.bvappraisers.org/why_hire/
The American Institute of Certified Public Accountants (AICPA)
On their website, located at www.aicpa.org, the American Institute of Certified Public Accountants states that their “Forensic and Valuation Services (FVS) Center is designed to provide CPAs a vast array of resources, tools, and information about Forensic and Valuation Services (FVS) in one convenient location.
The AICPA offers membership in the Forensic and Valuation Services Section, the Accredited in Business Valuation (ABV) Credential and the Certified in Financial Forensics (CFF) Credential.
The Accredited in Business Valuation Program is the mark of excellence for CPAs who are leaders in industry, public practice, government and academia. All ABVs gain ‘automatic’ membership in the FVS Membership Section as part of their credential benefits.
The Certified in Financial Forensics credential combines specialized forensic accounting knowledge and expertise with everything that makes CPAs among the most trusted business advisors. All CFFs also gain ‘automatic’ membership in the FVS Membership Section as part of their credential benefits.”
The Canadian Institute of Chartered Business Valuators (CICBV)
On their website, located at www.cicbv.ca, the Canadian Institute of Chartered Business Valuators states that it “…is the largest professional valuation organization in Canada.
It is a self-regulated organization that, in addition to governing its Members with a strict Code of Ethics and Practice Standards, manages the Chartered Business Valuator (CBV) / expert en évaluation d'enterprises (EEE) designation.
Increasingly, the CBV/EEE is recognized as the premier credential for professional business valuators in Canada, with Members providing a broad range of business valuation services to Canada's business, legal, investment, banking and government communities.”
· Understanding Business Appraisal Home
· Getting Started With Business Appraisal
· What You Need to Get Your Business Valued
· Choosing a Business Appraiser
· How are Business Appraisers Licensed and Regulated?
· What are the Professional Designations for Business Appraisers?
· What Does a Business Appraisal Cost?
· Definitions and Glossary of Business Appraisal Terms