Often the best way to find someone who can provide business valuation services for your company is word of mouth — recommendations from colleagues you trust. Or perhaps a firm that has already satisfactorily provided other services to you also is qualified to provide valuation services. But you will also want to make sure that anyone providing such an important service, on which the future of your business rests, has some sort of respected credential.
The Vrakas Business Valuations team is full of credentials:
- Scott Wildman, CPA/ABV, CVA – President of Vrakas Business Valuations, Inc.
- John Staehler, CPA, CVA – Shareholder
- Paul Schoessow, CVA – Principal
- Robert Grey – Valuation Analyst
- Robert passed his fourth and final ASA Business Valuation Exam! In addition to passing all four exams, he has also completed his 15-hour USPAP requirement. The last step before he receives his official credential is having an Appraisal Report passed by a board of examiners.
There are a lot of credentials out there. The three noted below, with summaries of their requirements, are especially popular and also the ones the Vrakas Valuation team has or is working on receiving. Be sure to visit the websites of these organizations to learn in detail what professionals have to do to prove their competence!
Accredited in Business Valuation — AICPA
This designation, from the American Institute of CPAs, is available only to CPAs who have passed an examination. (The examination may be waived for those who have earned certain other designations.) ABV candidates must have completed at least six business valuation engagements or obtained 150 hours of valuation experience within a five-year period. There are also extensive continuing professional education requirements. More information is available on the AICPA site.
Accredited Member and Accredited Senior Appraiser — ASA
The American Society of Appraisers requires an application, letters of reference, an ethics exam and successful completion of the 15-hour National Uniform Standards of Professional Appraisal Practice. Those with two to five years of experience can become Accredited Members and those with five or more years can become Accredited Senior Appraisers. More information is available on the ASA site.
Certified Valuation Analyst — NACVA
The National Association of Certified Valuators and Analysts generally requires that holders of its CVA designation be CPAs, although non-CPAs can earn the designation by showing extensive relevant background and experience. All prospects must provide references and examples of their work, and pass a comprehensive exam. More information is available on the NACVA site.