In hiring someone to perform a business valuation, a business should look for someone with a recognized credential. There are several accrediting bodies:
The National Association of Certified Valuation Analysts (NACVA)
NACVA confers the Certified Valuation Analyst (CVA) designations. To earn this designation, one must hold a valid CPA license or meet other experience and educational requirements, compete a 5 day training course and pass a 4 hour proctored exam and a 60 hour comprehensive take home exam which includes a case study and report. To maintain the certification the CVA must complete 36 hours of continuing education in business valuation topics every three years and participate in NACVA’s quality enhancement program.
The American Institute of CPAs
Offers the Accredited in Business Valuation (ABV). To earn an ABV a CPA must be a member of the AICPA, hold a valid CPA license, provide evidence of business valuations, pass a written exam and complete continuing education requirements.
The American Society of Appraisers
A multi-disciplinary appraisal organization. Its members are involved in everything from business and real estate appraisals to the appraisal of antiques and gems. The professional designation is the Accredited Senior Appraiser (ASA). To earn this designation, a candidate must have a college degree, have appraisal experience and pass an examination. The candidate must also have two appraisal reports reviewed by its board of examiners and complete continuing education requirements.