Application Kit
A Guide to the AICPA
Accredited in Business Valuation Credential
Copyright © 2017 Association of International Professional Accountants. All rights reserved.
DISCLAIMER: The contents of this publication do not necessarily reflect the position or opinion of the Association, its divisions and its committees.
This publication is designed to provide accurate and authoritative information on the subject covered. It is distributed with the understanding that the
authors are not engaged in rendering legal, accounting or other professional services. If legal advice or other expert assistance is required, the services
of a competent professional should be sought.
For more information about the procedure for requesting permission to make copies of any part of this work, please email [email protected] with your
request. Otherwise, requests should be written and mailed to the Permissions Department, AICPA, 220 Leigh Farm Road, Durham, NC 27707–8110.
Table of Contents
Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Objectives of the Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
How the ABV Credential Will Enhance Your CPA Practice. . . . . . . . . . . . . . . . . . . 2
Benefits of FVS Section Membership. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Benefits of the ABV Credential. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
ABV Credential Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Application Process for ASA, AM, CFA, or CBV Credential Holders. . . . . . . . . . . 7
ABV Credential Application Audit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Receiving the ABV Credential. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
ABV Credential Recertification Requirements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Additional Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Frequently Asked Questions Regarding the ABV Credential. . . . . . . . . . . . . . . . 10
ABV Credential Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
APPLICATION KIT: A GUIDE TO THE AICPA ACCREDITED IN BUSINESS VALUATION CREDENTIAL
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Introduction
The Association of International Professional Accountants (AICPA) established the Accredited in Business
Valuation (ABV ) credential program in 1998 for CPAs who specialize in valuation. The ABV credential is granted
exclusively to CPAs who demonstrate considerable expertise in valuation through their knowledge, skill and
experience.
®
This guide provides information on how to obtain the ABV credential.
Objectives of the Program
The objectives of the ABV credential program are to:
Enhance the quality of valuation services ABVs provide
Increase practice development and career opportunities for ABVs
Promote members’ services through the Forensic and Valuation Services (FVS) website
Achieve public recognition of the ABV as the preferred valuation professional
How the ABV Credential Will Enhance
Your CPA Practice
CPAs who provide valuation services obtain the ABV credential because it:
Positions the credential holder as a premier valuation services provider
Enhances the practitioner’s image as a competent, trustworthy valuation expert
Promotes a greater level of confidence for current and potential clients
emonstrates commitment to continuously improving valuation skills and expertise, resulting
D
in increased professional competency
ffers greater revenue opportunities — valuation consistently has been in the top
O
three growing service areas in the Accounting Today profile of Top 100 Firms
xpands opportunities for referrals from other practitioners, strategic partners, attorneys
E
and clients
Includes you in a community of CPA valuation professionals with similar interests and practices
Distinguishes your practice with the powerful combination of the CPA brand and the ABV credential
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Benefits of FVS Section Membership
AICPA OFFERS ABV CREDENTIAL HOLDERS AUTOMATIC FVS SECTION MEMBERSHIP,
WHICH INCLUDES:
Practice Aids and Other Non-Authoritative Guidance — Guidance on forensic- and valuation-related
technical issues, such as valuations for estate and gift tax, intellectual property, mergers and acquisitions
disputes, economic damages and litigation support services
ebcasts — Topics include forensic- and valuation-related technical issues, as well as hot topics that affect
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niche practices. FVS Section members receive 4 free events with up to 8 hours of CPE per year.
VS Consulting Digest — Quarterly newsletter with articles on forensic and valuation technical issues as well
F
as applicable practice management issues
onference Discounts — Discounted rates at the AICPA FVS educational conferences, such as the Annual
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AICPA Forensic and Valuation Services Conference, the AICPA Business Valuation School, the AICPA Fair
Value Measurements Workshop and the AICPA Expert Witness Skills Workshop
Exclusive FVS Website Content — Access to articles, case studies, checklists, worksheets and tools
Professional Resource Discounts — FVS members benefit from vendor discounts and special offers
on selected products and publications
Regulatory Insight — Timely information on this field’s complex laws and regulations
Networking Opportunities — Invaluable opportunities to help CPAs collaborate and share best practices
through participation in the Conference Town Hall Sessions, ABV and CFF Champion Programs, AICPA FVS
Section Member LinkedIn Subgroup and more
®
dvocacy — Support regarding federal and international regulatory issues that impact CPA professionals who
A
specialize in forensic and valuation services
Marketing Assistance — Creative ideas for marketing and managing an FVS practice
Benefits of the ABV Credential
BV Marketing Toolkit — Designed to help ABV credential holders market their skills and build their
A
valuation practices
ublic Awareness Program — The AICPA’s ongoing media relations campaign heightens the awareness
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of the ABV credential among clients, the business and legal communities and various media outlets
ecognition at the AICPA National FVS Conferences — Networking opportunities with other
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ABV credential holders
Find an ABV — An online directory of all ABV credential holders, which is also available to the public
rofessional Discounts — ABVs also benefit from vendor discounts and special offers on selected products
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and publications used in their valuation practices
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ABV Credential Requirements
THE ABV CREDENTIAL IS EXCLUSIVELY GRANTED BY THE AICPA TO QUALIFIED CPAs.
TO QUALIFY, AN ABV APPLICANT MUST:
1. Maintain AICPA membership in good standing.
2. Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority.
3. P
ass the ABV Examination and meet minimum business experience and education requirements.
The business experience and education requirements must have been completed within five years
prior to applying for the ABV credential.
4. Complete the ABV credential application and pay the respective credential fee of $370*.
5. Sign a Declaration of Intent to comply with the ABV recertification requirements.
*Credential fees may vary based upon current level of membership.
THE EXAMINATION REQUIREMENT
There are two ways to satisfy the examination requirement:
1. Pass the two-part, six-hour ABV Examination
2. Hold the ASA or AM credential awarded by the American Society of Appraisers, the CFA credential awarded
by the CFA Institute, or the CBV credential awarded by the Canadian Institute of Chartered Business Valuators.
For more information about the AICPA’s ABV Examination, including exam fees, the registration and scheduling
process, the Content Specification Outline (CSO), exam preparation and receiving exam results, please
visit aicpa.org/ABVexam.
Have questions? Call 888.777.7077 or submit an email to [email protected]
THE BUSINESS EXPERIENCE REQUIREMENT
There typically are three venues through which an ABV credential candidate may successfully obtain
business experience:
Via the public accounting and/or consulting arena
Via the business and industry field
Via academia
Candidates may also apply a maximum of 15 experience hours by completing the hands on business valuation
case study track at the AICPA Forensic and Valuation Services Conference.
1.Public accounting and/or consulting:
A credential candidate will successfully complete the requirement by obtaining at least 150 hours of
experience where the valuation analyst demonstrated competence to make an assessment of appropriateness
regarding the choices of approaches and methods, inputs to models, and the conclusion of the valuation while
using professional judgment. This experience must have been obtained within the five-year period preceding
the date of the credential application.
Examples of this type of experience include, but are not limited to:
Employees in or proprietors of a public accounting firm
Employees of a consulting firm that is not a public accounting firm
uditors for Fair Value for Financial Reporting: Auditors completing reviews of fair value for purposes of
A
financial reporting whereby the auditor performs tasks consisting of recalculation of the discount rates,
capitalization rates, and verifying models on calculations of value using professional judgment
APPLICATION KIT: A GUIDE TO THE AICPA ACCREDITED IN BUSINESS VALUATION CREDENTIAL
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2.Business and industry:
A credential candidate will successfully complete the requirement by obtaining at least 150 hours of
business valuation experience. The valuation analyst must demonstrate competence to make an assessment
of appropriateness of the choices of approaches and methods, inputs to models, and the conclusion of the
valuation while using professional judgment. This experience must have been obtained within the five-year
period preceding the date of the credential application.
Examples of this type of experience include, but are not limited to:
Employees working in a private equity group, investment bank or venture capital firm
Employees working in a company’s corporate development (i.e., mergers and acquisitions) department
Employees performing analytical work in any merger, acquisition or deal-making setting
Employees working for a research or publishing entity performing merger, acquisition or similar work
3.Academia:
A credential candidate will successfully complete the requirement by demonstrating competence
to serve as an instructor who has taught at least four accredited college courses covering at least 50%
of the material included in the ABV Exam Content Specification Outline. This experience must have been
obtained within the five-year period preceding the date of the credential application.
Additionally, while gaining experience to meet ABV credential requirements, one must exhibit professional
competence as noted in Paragraph 11 of VS Section 100, Valuation of a Business, Business Ownership Interest,
Security, or Intangible Asset. This paragraph reads as follows:
The “General Standards Rule” of the code (ET sec. 1.300.001 and 2.300.001) states that a member
shall “undertake only those professional services that the member or the member’s firm can
reasonably expect to be completed with professional competence.” Performing a valuation
engagement with professional competence involves special knowledge and skill. A valuation analyst
should possess a level of knowledge of valuation principles and theory and a level of skill in the
application of such principles that will enable him or her to identify, gather, and analyze data,
consider and apply appropriate valuation approaches and methods, and use professional judgment
in developing the estimate of value (whether a single amount or a range). An in-depth discussion of
valuation theory and principles, and how and when to apply them, is not within the scope of this statement.
Experience gained for the purposes of meeting the ABV credential requirements can be obtained through a variety
of engagements or work responsibilities. They include, but are not limited to:
1
Mergers and acquisitions, spin-offs and liquidations
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mployee Stock Ownership Plans (ESOPs)
Reorganizations and bankruptcies
F
inancial reporting
Initial public offerings (IPOs)
C
haritable contributions
Damages litigation and ownership disputes
A
llocation of purchase price
Fairness opinions
Goodwill impairment
Estate, gift and income tax
Buy/sell agreements
Ad valorem taxes
Family limited partnerships
Insurance claims
R
ecapitalizations
Marital dissolution
F
inancing
Dissenter’s rights
B
usiness planning
Eminent domain actions
S
tock option plans
Shareholder oppression cases
C
ompensation1
List of valuation areas obtained from Understanding Business Valuation, Gary Trugman, 4th edition, 2012, pg. 3
and Financial Valuation: Applications and Models, James Hitchner, 3rd edition, 2011, pg. 2.
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Examples of methods used on such engagements include, but are not limited to:
ash Flow Valuation — Analyze the historical performance of the business; estimate the cost of capital;
C
calculate the value of the cash flow stream; and interpret the results
pecialized Valuation Skills and Training — Security market options; research techniques and research
S
tools; company, industry and economic data analysis; valuation calculations and conclusions; engagement
reporting; and Code of Professional Conduct and Professional Standards
nalysis of Financial Information — Linkage between purpose for the valuation, standard of value and
A
ownership; and sources and uses of industry financial and operating data
inancial Forecasting — Statistical techniques: simple and multiple regressions; time series analysis; AICPA
F
Prospective Financial Reporting Guidelines; determining and documenting significant forecast assumptions;
company and industry data; and sources and uses of economic data
Estimating Cost of Capital (Discount and Capitalization Rates) — Understanding the sources and
limitations of data; security market line; market efficiency, theoretical underpinning of discount and
capitalization rates — capital asset pricing model, multi-factor models, difference and similarities of
CAPM and the build-up method; sources of small-firm risk premiums, firm-specific risk premium and
other adjustments to cost of capital (when and how); Beta — understanding the sources and calculations,
R-squared and other potential limitations; estimating Beta for privately owned companies, including guideline
companies’ levered Beta (bL) and Guideline Companies’ Proxy unlevered Beta (bu)
Selecting
and Evaluating Guideline Company Data — Screening and selection process; goodness of fit
issues; guideline companies; data to use and the proper use of the data; linkages between the Standard of
Value, purpose for the valuation, selection of guideline companies and specific data; court cases involving
acceptance and rejection of guideline company data
Determining the Proper Valuation Discounts or Premiums — Reasons for discounts and premiums such
as marketability and control issues; Standard of Value, purpose for the valuation, ownership issues and
the proper usage of discounts; sources for estimating discounts such as identifying and understanding the
empirical research of liquidity and control issues; and methods used to select and apply proper discounts
and premiums
inkages Between Approaches, Standards of Value — Purpose of Valuation and Discounts Income
L
methods; market methods; asset-based methods; liquidity and marketability issues; control and minority
ownership positions; fair market value, investment value and fair value
ntity and Specialized Industry Issues — ESOP plans; Family Limited Partnerships; medical practices;
E
professional service business, other service businesses; start-up, research and development, or technologybased businesses; initial public offering (IPO) candidates; merger and acquisition valuation engagements; real
estate or other holding companies; and specialized industries (construction, retail, restaurants, etc.)
eport Preparation and Engagement Administration — Awareness of appropriate VS Section 100 reporting
R
standards; proper documentation of research; presentation of and support for the valuation conclusion;
sufficient and competent evidential matter; guidelines for work paper and supporting documentation; and
engagement letters and letters of representation
itigation and Dispute Resolution Services — Rules of evidence; qualifications of experts; roles of the
L
consulting expert and the testifying expert; and depositions and court testimony
APPLICATION KIT: A GUIDE TO THE AICPA ACCREDITED IN BUSINESS VALUATION CREDENTIAL
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THE EDUCATION REQUIREMENT
An ABV candidate must have a minimum of 75 hours of valuation-related continuing professional
development (CPD). All hours must have been obtained within the five-year period preceding the date
of the credential application.
The education requirement is designed to maintain your competency by requiring timely updates of
existing business valuation knowledge and skills, and to provide a mechanism for monitoring your
competency-maintenance efforts.
CPAs are responsible for complying with all applicable CPE requirements, rules and regulations of state boards of
accountancy, as well as those of membership associations and other professional organizations. Visit aicpa.org/CPE
to become familiar with the CPE Standards issued by AICPA and NASBA, learn the CPE continuing professional
development requirements for AICPA members, and find out the specific CPE requirements for each state board
and society. The following categories of education are eligible:
PE will be given for formal educational programs of learning in self-study or group-study format on topics
C
relevant to the ABV body of knowledge
pproved Courses at an Accredited University or College — For university or college courses taken in
A
topics relevant to the ABV body of knowledge
resenting Continuing Education Courses — Instructors receive credit for the preparation and presentation
P
of CPE courses and technical papers on topics relevant to the ABV body of knowledge
Authoring — Articles and publications in topics related to the ABV body of knowledge
nstructured Learning — May include activities such as coaching, mentoring, peer-to-peer learning,
U
and on-the-job training; these expanded opportunities allow you to develop professional competencies
necessary to support continued success in your area of specialization
For a listing of the applicable BV knowledge and skills used to meet the educational requirements, see the
examples of methods used in BV engagements listed above in the Business Experience Requirement section
and the ABV Exam Content Specification Outline.
Application Process for ASA, AM, CFA, or
CBV Credential Holders
The ABV Exam is waived for a CPA holding a current Accredited Senior Appraiser (ASA) or Accredited Member
(AM) credential provided by the American Society of Appraisers. CFA credential awarded by the CFA Institute,
or CBV credential awarded by the Canadian Institute of Chartered Business Valuators. The ASA, AM, CFA or
CBV credential holder must then:
1. Maintain AICPA membership in good standing.
2. Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority.
3. Meet the minimum business experience and education requirements. The business experience and education
requirements must have been completed within five years prior to applying for the ABV credential.
4. Complete the ABV credential application and pay the respective credential fee of $370.*
5. Sign a Declaration of Intent to comply with the ABV recertification requirements.
*Credential fees may vary based upon current level of membership.
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ABV Credential Application Audit
A sample of accepted applications are selected for a random audit. Any misrepresentations or incorrect information
provided to the AICPA can result in disciplinary action, including suspension or revocation of eligibility and/or
credential. In the event of an audit, documentation of third-party credentials, business experience and education
will be required as follows:
THIRD PARTY CREDENTIALS
If the ABV Exam was waived because you hold the ASA, AM, CFA, or CBV credential, you must provide your
membership number for the third-party institution or a document on official letterhead verifying your membership.
BUSINESS EXPERIENCE
ame of employer, dates of employment and a representation from employer/firm/supervisor stating you have
N
sufficiently completed the experience requirements for the ABV credential or a listing of applicable engagements on
employer/firm letterhead or billing statement including:
•
•
•
•
Dates of engagement
Role in the engagement
Type of industry
Type of entity
PE certificate documenting a maximum of 15 experience hours by completing the hands-on business valuation case
C
study track at the AICPA Forensic and Valuation Services Conference
EDUCATION
or CPE, approved courses at a university, other continuing professional development and trade
F
association conferences
•
•
•
•
Title of course/session
Related body of knowledge subject matter Sponsor of course
Name of college/university
For Authoring
• Title of work
• Related body of knowledge subject matter • Name of publisher
• Format of course
• Date(s)
• Number of CPE credits, hours attended, semester credits, etc.
• Type of publication
• Date published
• Number of hours to prepare
For Unstructured Learning
• Date(s) of activities
• Format and length of activity
• How the activity supports your continued development
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Receiving the ABV Credential
After receiving notification of successfully passing the exam and meeting all other requirements, apply for the ABV
credential using the online application at aicpa.org/ABV or complete the ABV credential application found in this
application kit. Once documentation and payment has been submitted and approved by the AICPA, the candidate
will be notified. At that time, the candidate will be eligible to use the ABV credential in compliance with the rules
of the state board(s) of accountancy for the state(s) in which he or she practices.
The candidate is not authorized to use the credential until he or she receives this notice. At the candidate’s
request, the successful candidate’s state society will be notified that the candidate has been granted the ABV
credential so this information can be promoted in the state society’s newsletters. An ABV credential certificate
will be sent to the successful candidate under separate cover.
ABV Credential Recertification Requirements
To maintain the credential, ABV credential holders must continue to pay the appropriate annual credential fee
and meet the following recertification requirements annually:
1. Maintain AICPA membership in good standing
2. Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority
3. Complete 20 hours of continuing professional development within the credential body of knowledge annually:
• Continuing professional development may include structured learning activities approved by NASBA or a legally
constituted state authority, or unstructured learning activities
APPLICATION KIT: A GUIDE TO THE AICPA ACCREDITED IN BUSINESS VALUATION CREDENTIAL
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• Unstructured learning activities may constitute up to 50% (10 hours annually) of a credential holder’s CPD to
meet credential renewal requirements
4. Submit electronic intent to continue to comply with all recertification requirements.
Additional Information
For more information about the ABV credential program, contact the AICPA.
Call: ABV Member Service at 888.777.7077 (M–F 9am–6pm ET)
Write: A
ICPA ABV credential
American Institute of CPAs
220 Leigh Farm Road
Durham, NC 27707
ATTN: Member Service
Email: [email protected]
Visit: aicpa.org/ABV
Frequently Asked Questions Regarding
the ABV Credential
Q. How does the ABV credential differ from other valuation credentials?
A. T
he ABV, unlike other valuation credentials, is awarded only to CPAs who are members of the AICPA.
Accordingly, this credential represents the highest professional standards of any valuation credential and sets
the ABV credential holder apart from other valuation experts.
Q. Do I have to be a CPA and a member of the AICPA to qualify?
A. Yes. To qualify for the ABV credential, you must be an AICPA member in good standing and hold a valid and
unrevoked CPA certificate issued by a state authority. The ABV credential is granted exclusively by the AICPA.
Q. How much will it cost to apply for the ABV credential?
A. O
nce you have met all of the requirements to become an ABV, the standard initial pricing for the ABV
credential is $370 unless you qualify for one of the exceptions listed below:
• If you hold another AICPA credential, then the initial price is $210 (unless category No. 2 below applies
with a lower price.)
• If you are a member of the FVS Section, then you will receive a credit for a pro rata portion of your
remaining annual FVS membership fee. (The actual cost will be somewhere between the $370 standard
price and $145, depending on the number of months remaining in your annual FVS membership period.)
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Q. Do I have to take an examination to qualify for the ABV credential?
A. There are two ways to satisfy the examination requirement:
1. Pass the two-part, six-hour ABV Examination
2. Hold
the Accredited Senior Appraiser (ASA) or Accredited Member (AM) credential issued by the
American Society of Appraisers. The CFA credential awarded by the CFA Institute, or the CBV credential
awarded by the Canadian Institute of Chartered Business Valuators.
Q: D
oes experience performing valuation services as an employee of a financial services firm that is not an
accounting firm (i.e., a consulting firm, litigation support firm, private equity firm, investment bank, etc.)
qualify to fulfill the experience requirement?
A: Y
es, as long as valuation services performed by the analyst meet the definition of valuation services
described under the Business Experience Requirement section.
Q: D
oes experience reviewing valuations as an auditor in a CPA firm qualify to fulfill the experience
requirement?
A: E
xperience gained by reviewing valuations as an auditor in a CPA firm would qualify toward meeting
the 150-hour experience requirement. For the experience to apply, the candidate auditor must use
methods as part of the review process whereby the auditor performs recalculation of the discount rates,
capitalization rates, and/or verifies models on calculations of value using professional judgment.
Q: D
oes experience performing valuation services as an employee of a reporting entity for the purpose
of fair value accounting measurement and disclosure qualify to fulfill the experience requirement?
A: Y
es, as long as valuation services performed by the analyst meet the definition of valuation services
described under the Business Experience Requirement section.
Q: D
oes experience performing valuation services for the purpose of litigation and arbitration
(including bankruptcy, commercial litigation, marital dissolution, etc.) qualify to fulfill the experience
requirement?
A: Y
es, as long as valuation services performed by the analyst meet the definition of valuation services
described under the Business Experience Requirement section. However, due to the reporting exemption
from VS Section 100 for controversy proceedings, not all engagements will result in a report that meets VS
Section 100 reporting standards. Accordingly, the candidate may need to provide additional support that
demonstrates work experience in this area under VS Section 100. The additional support required, if any,
will be determined by the ABV Credential Committee on a case-by-case basis.
Q: D
oes experience performing valuation services as an employee of a private company for the purpose
of management planning (including acquisitions, divestitures, investment decisions, investment
performance evaluation, etc.) qualify to fulfill the experience requirement?
A: Y
es. If the work product culminated in the expression of either a conclusion of value or a calculated value
and meets the definition of valuation services described under the Business Experience Requirement
section, the valuation services qualify to fulfill the experience requirement.
Q: D
oes the analysis and work product of the candidate need to be reviewed by a CPA or ABV credential
holder in order to qualify to fulfill the experience requirement?
A: T
he work product of a sole practitioner, partner, or someone else in a role that does not require the review
of a direct supervisor does not need to be reviewed by another qualified ABV. The candidate would qualify
as long as he/she has successfully completed the required level of experience stated in the Business
Experience Requirement section. However, the candidate should be aware that applications are selectively
audited to ensure compliance with the ABV credential requirements.
APPLICATION KIT: A GUIDE TO THE AICPA ACCREDITED IN BUSINESS VALUATION CREDENTIAL
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Credential Application
All applicants must be AICPA members in good standing.
APPLICANT PROFILE
home business
Member name:________________________________________________ AICPA membership No.______________________________________________________
Firm or organization:___________________________________________________________________________________________
Address:______________________________________________________________________________________________________
City:________________________________________________________ State: __________________ ZIP: ____________________
Telephone: __________________________________________________ Fax No. _________________________________________
Email address: _____________________________________________________________________________________________ Country _________________________________________
Apply Online Today! Visit us at:
aicpa.org/ABV and click on Join.
Mail application and payment to:
ATTN: Member Service
ABV credential
AICPA
220 Leigh Farm Road
Durham, NC 27707
Or fax to: 800.362.5066
Please check here if you do NOT want your information to appear in the ABV referral database (findanABV.com).
APPLICANT QUALIFICATIONS
Check all boxes
that apply
Section 1: Certificate/license
I hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority. _________________________
Section 2: Examination requirement
I have passed the ABV Exam and/or obtained one of the following credentials. Please check all that apply:
• AICPA Accredited in Business Valuation (ABV) Exam ___________________________________________________________
• Accredited Senior Appraiser (ASA) credential __________________________________________________________________
• Accredited Member (AM) credential __________________________________________________________________________
• Chartered Financial Analyst (CFA) credential __________________________________________________________________
• Chartered Business Valuator (CBV) credential __________________________________________________________________
Section 3: Education requirement
I have completed at least 75 hours of state-authority approved CPD from topics covered in the ABV body of knowledge
within the last five years: ________________________________________________________________________________________
Education in the ABV body of knowledge areas may be obtained via the following means: successfully completing, presenting or lecturing
continuing education courses and authoring publications on relevant subjects. More information can be found at aicpa.org/ABV.
Section 4: Experience requirement
I have met the minimum experience requirement in the topics covered in the ABV body of knowledge within the last five years:
• I have at least 150 hours of business valuation experience _________________________________________________________________
• I have at least 150 hours of business valuation experience including up to 15 hours via the hands on case study track at the AICPA FVS Conference ______________________________________________________________________________________________________
• I am a full-time professor and have taught at least 4 accredited college courses with 50% of their material included in the ABV
body of knowledge __________________________________________________________________________________________________
T: 888.777.7077 | F: 800.362.5066 | E: [email protected] | W: aicpa.org/ABV
DECLARATION OF INTENT
Please read and indicate agreement below.
Declaration
Agreement
I hereby affirm that my statements given in the ABV Application (and any attachments
and additional information I have provided) are true and complete to the best of my
knowledge and freely given. I understand that any misrepresentation or omission of
facts therein is cause for denial or revocation of the right to use the ABV Credential
and logo. If so requested by the AICPA, I will furnish all additional information or
documentation as deemed necessary for the verification of the information given
here.
1) I understand that I may not use the ABV credential or ABV logo or hold myself out as an
ABV until I have received official notification of my ABV certification from the AICPA.
2) I hereby authorize investigation of all information I provided in the ABV application.
3) I understand that, if I fail to comply with the maintenance of credential requirements,
I am required to and I agree to cease use of the ABV credential and ABV logo
immediately and understand that in order to regain ABV certification, the requirements
and fees on the ABV Reinstatement Application must be met again.
4) I understand that the recertification requirements noted under Maintenance of the Credential
are subject to change as deemed appropriate by the AICPA and the ABV credential.
Maintenance of the Credential
5) I further understand and agree that the AICPA has the absolute and unrestricted
To maintain the ABV credential, credential holders must pay annual dues and must
right to revoke any rights I have to use the ABV credential and ABV logo if I fail to
comply with the following requirements:
hold a valid and un-revoked CPA certificate issued by a legally constituted state
1) Maintain membership in good standing in the AICPA.
authority and maintain membership in good standing in the AICPA.
2) Hold a valid and unrevoked CPA certificate issued by a legally constituted
6) In consideration of the ABV certification granted hereby, I further agree that neither
state authority.
the AICPA, its officers, directors, employees nor others acting on its behalf, shall be
3) Recertify annually. Recertification currently requires that ABV Credential holders: a)
liable to me for any actions taken or omitted to be taken in any official capacity or
Complete 20 hours of continuing professional development within the credential
in the scope of employment and I hereby release the AICPA and the other persons
body of knowledge annually
identified above from any liability for such actions or omissions.
• Continuing professional development may include structured learning activities
7) I affirm that I have read carefully, understand and agree to the items set forth in this
approved by NASBA or a legally constituted state authority, or unstructured
Declaration of Intent. I further certify that I understand that a percentage of ABV
learning activities
applications will be randomly selected for further review and that, if selected, I will
• Unstructured learning activities may constitute up to 50% (10 hours annually) of a
be required to provide detailed documentation (including specifics of Experience
credential holder’s CPD to meet credential renewal requirements
and Education) to support the assertions of the application. Failure to provide
and b) Submit a written statement of their intent to continue to comply with all the documentation will be considered non-compliance with the requirements for
conditions required to maintain the credential.
maintenance of the ABV credential.
Signature ________________________________________________________________________
Date ­______________________________
Inserting your name here electronically will serve as a valid representation of your signature and will be considered binding.
PAYMENT INFORMATION
The program enrollment fee for the ABV credential is due upon application submission. Please indicate your credential
or membership status, as well as your method of payment, below.
Credential or membership status: (Check one)
New ABV Credential holder $370
Current FVS Section member $370*
Current CFF, CITP or PFS $210
*Fees may vary as unused portion of section dues will be credited against your credential fee.
PROMOTION CODE: ___________________
P
lease find the enclosed check made payable to: AICPA/ABV credential
(Please note: You will receive a full refund if your application is not approved.)
Apply Online Today! Visit us at: aicpa.org/ABV
Card number:____________________________________________ Expiration Date:______________ Application and payment can be mailed to:
ATTN: Member Service
AICPA ABV credential
American Institute of CPAs
220 Leigh Farm Road
Durham, NC 27707
Billing address (if different from address above):
Or faxed to: 800.362.5066
_____________________________________________________________________________
Please Note: Acceptance of payment does
not signify approval of your application.
Upon approval of your application, you will
receive a welcome email advising you of your
authorization to use the ABV credential.
P
lease bill my credit card
(Please note: Your credit card payment will be processed upon approval of your application.)
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isa MasterCard Discover American Express
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Sign Name:_____________________________________________________________________________
Email: [email protected]
Call: 888.777.7077 (M–F 9am–6pm ET)
T: 888.777.7077 | F: 800.362.5066 | E: [email protected] | W: aicpa.org/ABV
201433-326
T: 888.777.7077 | F: 800.362.5066 | E: [email protected] | W: aicpa.org/ABV