The Association

NACVA®
The National Association of Certified Valuation Analysts
TheAssociation
Publication Date: November 20101

NACVA—1111 Brickyard Road, Suite 200 • Salt Lake City, Utah 84106-5401 • Tel: (800) 677-2009
“For me, the value of NACVA
membership is in the
educational programs. I have
participated in quite a few,
and I am always impressed at
the level of knowledge of the
participants and the questions
that they ask. It is apparent that
the group consists of skilled
appraisers that are interested
in becoming even more
effective in their profession.
So I really recommend NACVA
membership to anybody.”
—Alfred M. King AB, MBA, CMA, CFM
22 The Association • National Association of Certified Valuation Analysts

National Association of Certified Valuation Analysts
NACVA
NACVA’s Beginnings
In 1990, the idea to establish an association to support the needs of CPAs and other business profession-
als in their pursuit to provide business and intangible asset valuation and financial forensics consulting
services was conceived. The idea and dream to have such an association came at the suggestion of numer-
ous professionals throughout the country, who, while attending business valuation seminars offered by the
subsequent founders of the National Association of Certified Valuation Analysts (NACVA®), took the time
to express their thoughts and pledge their support to an effort such as NACVA. Since then, NACVA has
garnered the loyal support of thousands of valuators in building the Association and expanding its reach.
NACVA has trained over 18,500 CPAs and other valuation and consulting professionals in the fields of
business valuation, financial forensics and various related specialty services serving the legal and business
communities. Approximately 80% of our members have obtained the Certified Valuation Analyst (CVA),
Accredited Valuation Analyst (AVA), or Certified Forensic Financial Analyst (CFFA) designation. You will
find our membership comprises some of the most intelligent, dynamic, and innovative people in the pro-
fessional financial/accounting community. NACVA’s members are an elite group of people. As you learn
about NACVA, you will discover we have taken many steps to bring together our wealth of resources in
order to facilitate the networking of knowledge and theory in the fields we support.
Thousands of organizations and individuals throughout the USA and other parts of the world have an inter-
est in our professional expertise. We are a substantial group of professionals all with unique abilities, who,
by and large, are the most qualified group in the country to serve the needs of the users of valuation and
financial forensic services. NACVA’s members are all very well educated and experienced in a wide range
of financial applications; and all certified members are required to obtain at least 36 hours of Continuing
Professional Education (CPE) in these disciplines of focus every three years. The integrity of the Associa-
tion is furthered by NACVA’s rigorous certification programs, which require a complete understanding of
the process. We believe our valuation and financial forensic certification programs are the country’s most
objective for specialists in these areas because they emphasize a solid and broad base of knowledge from
which a professional can build.
NACVA is a progressive organization. We consciously pursue our goals to attain and disseminate knowl-
edge, develop better theory, increase public awareness of who we are, encourage strategic alliances within
the accounting, legal, and business communities, and expand benefits and services to our members.
NACVA is the premier organization of professionals representing the dominant force in the valuation and
financial forensic consulting communities. The continued support of our membership has been and will
continue to be pivotal in our success. Our doors and minds are open to your suggestions.
Everything we have done to mold this Association is based on the needs, desires, and requests from our
members. NACVA is here to serve you.
—Parnell Black, MBA, CPA, CVA

Chief Executive Officer
NACVA’s Certified Valuation Analyst (CVA) and Accredited Valuation Analyst (AVA) designations are the only valuation credentials accredited
by the National Commission for Certifying Agencies (NCCA), the accreditation body of the Institute for Credentialing Excellence (ICE).
1111 Brickyard Road, Suite 200, Salt Lake City, UT 84106-5401 • Tel: (801) 486-0600 • Fax: (801) 486-7500 • Internet: www.nacva.com
NACVA—1111 Brickyard Road, Suite 200 • Salt Lake City, Utah 84106-5401 • Tel: (800) 677-2009 3
Table of Contents
NACVA’s Beginnings.............................................................................................................................3
NACVA’s Mission...................................................................................................................................6
Benefits of Membership.......................................................................................................................6
Classifications of Membership...........................................................................................................8
Individual Membership....................................................................................................................................8
Practitioner...................................................................................................................................................8
Professional..................................................................................................................................................8
Associate.......................................................................................................................................................8
Academic.......................................................................................................................................................8
Government Employee.................................................................................................................................8
Student..........................................................................................................................................................8
Research Partner..............................................................................................................................................8
KeyValueData1..............................................................................................................................................8
Certification Programs.........................................................................................................................9
Policy on Confidentiality and Document Retention........................................................................................9
Qualifications for CVA Certification...............................................................................................10
Qualifications for AVA Certification...............................................................................................10
Qualifications for Government Employed Valuators.................................................................11
Denial of Qualifications.......................................................................................................................11
CVA/AVA Exam and Process.............................................................................................................11
Experience Alternative for Case Study.......................................................................................... 12
Examination and Experience Threshold Determination Appeals......................................... 12
CVA/AVA Recertification and Reporting Requirements.......................................................... 12
I. Points for Continuing Professional Education (CPE)............................................................................... 13
II. Points for Participating in NACVA Recommended Programs............................................................... 13
III. Professional Development: Points for Authorship, Course Development, and Instructing................ 14
IV. Points for Experience............................................................................................................................... 14
Certified Forensic Financial Analyst (CFFA)............................................................................... 15
CFFA Credential Criteria................................................................................................................................ 15
Prerequisites.................................................................................................................................................... 15
Recertification................................................................................................................................................. 16
Experience Waiver.......................................................................................................................................... 16
Financial Litigation........................................................................................................................................ 16
Forensic Accounting or Fraud Risk Management........................................................................................ 16
Business and Intellectual Property Damages or Matrimonial Litigation Support..................................... 17
Electing or Imposed Inactive Status............................................................................................... 17
1 Formerly known as The Center for Economic & Industry Research, LLC. (CEIR)
Table of Contents
Special Consideration for Active Military Service During Deployment............................... 18
Retired Status.......................................................................................................................................18
Candidate Status..................................................................................................................................18
CFFA Candidate Status....................................................................................................................... 19
Transferring Designations................................................................................................................ 19
Certified Fraud Deterrence Analyst (CFD)2..................................................................................20
Boards and Committees.....................................................................................................................20
NACVA Boards............................................................................................................................................... 20
General Nomination/Election Rules.............................................................................................................. 21
Board Member Restrictions.......................................................................................................................... 22
Purpose and Scope of the Boards.................................................................................................................. 22
Valuation Credentialing Board (VCB)..................................................................................................... 22
Education Quality Assurance Board (EQAB).......................................................................................... 22
Ethics Oversight Board (EOB).................................................................................................................. 23
Executive Advisory Board (EAB).............................................................................................................. 23
Litigation Forensics Board (LFB)............................................................................................................. 23
Other Elements Pertaining to the Boards..................................................................................................... 23
Board Member Responsibilities.................................................................................................................... 24
Board Member Benefits Package.................................................................................................................. 24
NACVA Board and Committee Organization Chart.....................................................................................25
NACVA’s Ambassadors Club..........................................................................................................................25
NACVA Committees....................................................................................................................................... 26
General Parameters.................................................................................................................................. 26
Role and Purpose........................................................................................................................................27
Annual Conference Planning Committee (ACPC)................................................................................27
Course Review Committee (CRC)..........................................................................................................27
Exam & Grading Committee (EGC)......................................................................................................27
Ideas & Technology Committee (ITC)...................................................................................................27
Practice Development Committee (PDC)..............................................................................................27
Recertification Committee (RC)........................................................................................................... 28
Standards Committee (SC)................................................................................................................... 28
State Chapters Committee (SCC)......................................................................................................... 29
Association Governance....................................................................................................................29
Complaints.............................................................................................................................................29
Policy on Discrimination...................................................................................................................29
NACVA Membership Application.................................................................................................... 31
2 No longer offered–merged with the CFFA credential
NACVA’s Mission
N ACVA’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 other related 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.
To achieve these purposes, NACVA carries out numerous activities, including but not limited to the following:
• Advancement, communication, and enforcement of standards of ethical and professional practice;

• Development and presentation of quality educational and training programs;
• Certification of practitioners on the basis of professional competence, ethics, independence, and
objectivity.
This includes the establishment of criteria for certification as a Certified Valuation Analyst (CVA), Accredited
Valuation Analyst (AVA), and Certified Forensic Financial Analyst (CFFA);
• Fostering public awareness that a credentialed member has met and continues to abide by standards
of ethical conduct, objectivity, and independence and performs his or her services at the highest level
of professional competence;
• Promoting and enhancing collegial and professional relationships among members of the Association
and other professional organizations.
Benefits of Membership
NACVA offers an expanding list of benefits and ser- 3. An accreditation program for litigation and
vices to members and the business community. You financial forensic consultants leading to the
are encouraged to take advantage of these services if designation of Certified Forensic Financial
you see an opportunity for yourself and the Associa- Analyst (CFFA) upon completion of training and
tion. Furthermore, we are continually expanding the a comprehensive examination;
breadth of services and products within each category.
4. A program for professional development made
Currently, NACVA provides the following benefits and
available through CPE-approved seminars, con-
services, many at discounted prices for members:
ferences, symposiums, and self-study courses;
1. An accreditation program in business valuation 5. Published Standards of Professional Practice;
for Certified Public Accountants (CPAs) leading
to the designation of Certified Valuation Analyst 6. Weekly live webinars and a web-based library
(CVA) upon completion of training and a com- on timely topics of high interest to the profes-
prehensive examination; sional community are made available for very
reasonable prices, providing easily accessible
2. An accreditation program in business valuation and quality Continuing Professional Education
for experienced industry practitioners and (CPE);
government-employed valuators leading to the
designation of Accredited Valuation Analyst 7. Professional networking and affiliation opportu-
(AVA) upon completion of training and a com- nities through an annual conference and major
prehensive examination; training events, Board and Committee participa-
tion, and a directory of members entitled,
Credentialed Member Directory;
8. Business valuation analytical and report writ- sis in Person (CAP), or the Quality Enhancement
ing software designed to increase efficiency, Questionnaire (QEQ);
thoroughness and improve work product quality;
18. Seminars for members to use in presentations to
9. Local support and networking facilitated through attorneys and other professionals in their com-
State Chapters; munity;
10. The Value Examiner® is a bimonthly magazine 19. Attorney prospect database available to members
available in print and online, used for profes- for use in local marketing efforts;
sional development and to create publishing
20. Member surveys to provide insight and feedback
opportunities for our members. Each issue
to all members;
includes an exam good for four hours of CPE
credit; 21. To help members attain both local and national
exposure, we provide a Writer’s Guild to foster
11. A website with both timely and detailed informa-
the opportunity to further their careers by
tion on all NACVA programs and services;
authoring articles, case studies, and white papers
12. Income opportunities providing services to the in their area of expertise
Association and our members through participa-
22. Referral services where contact information of
tion in NACVA’s Support Groups;
local credentialed members is provided through
13. The Association News is an online publication, NACVA’s online directory to prospective clients
which contains valuable information about the seeking services.
Association and our members. It also includes
23. Online resources designed to assist members
a confidential classified section to facilitate the
in their research and provide quick access to
staffing and relocation efforts of our members;
various exclusive and proprietary databases and
14. Technical advice offered through NACVA’s 250+ support services, providing extensive valuation,
member Mentor Support Group (MSG) with financial forensics and benchmarking resources,
specializations in business valuation, financial national, local, industry research services, and a
forensics, M&A, litigation support, and fraud wide range of consulting services available at a
consulting; discount to NACVA members who subscribe to
www.KeyValueData.com;
15. Staff support services available through NACVA’s
Credentialed Subcontractors established to 24. Newsletters, brochures, and the Regional Adver-
provide low-cost support from credentialed tising Program for members to use in marketing
members desiring more BV work to members their valuation and financial forensics consulting
with more BV work than they can handle; services;
16. An online Technical Resource Database (TRD) 25. Valuation Reports Library and various other
which includes a compilation of valuation, reference materials;
litigation, financial forensics, fraud, M&A, and
26. Ambassadors’ QuickRead—Monthly online
business advisory books, related publications,
publication for NACVA members (soon to be
software, databases, and references various other
bimonthly).
sources;
27. Professional Liability/Errors and Omissions
17. Peer review available through our Recertification
insurance provided to members at rates that
program—Case Analysis by Phone™, Case Analy-
average 25% below what they can get anywhere
else.
NACVA offers an
expanding list of benefits
and services to members
and the business
community.
Classifications of Membership
(See Application on NACVA’s website www.nacva.com or in back of this brochure.)
The Association has established six classifications of individual membership.
Individual Membership
1. Practitioner Membership—Practitioner Member- numerous products and services. All individuals who
ship is granted to those who have demonstrated perform valuation services and become members
through education, experience, and/or other criteria of NACVA must comply with NACVA’s Professional
that they meet the qualifications to apply for the Standards, regardless of their certification status.
designation of Certified Valuation Analyst (CVA), 4. Academic Membership—Academic Membership
Accredited Valuation Analyst (AVA), or Certified is offered to academicians employed full time by a
Forensic Financial Analyst (CFFA). Practitioner college or university and desirous of the services and
Membership carries with it all the rights, privileges, privileges of Association membership. Academic
and benefits offered by the Association. members recognize the important contributions the
2. Professional Membership—Professional Mem- Association is making in the valuation and financial
bership is extended to those individuals who may forensic sciences and want to show their support
not qualify for, or do not desire or intend to pursue through membership and contributions of intellectual
certification. However, they recognize the value of capital. Academic members enjoy all Association
membership and ideals of the Association and, as benefits and can apply for any of NACVA’s certifica-
such, wish to show their support by joining. Profes- tions as long as they meet its requirements.
sional members have the same rights, privileges, and 5. Government Employee Membership—Govern-
benefits as Practitioner members. However, Profes- ment Employee Membership is offered to individuals
sional members may not apply for certification and currently employed by a federal or state government
may not use the Association’s appellations. agency and who may or may not be pursuing an
3. Associate Membership—Associate Membership is accreditation. This level of membership carries with
designed for individuals who fall into the category of it all the rights, privileges, and benefits offered by the
Professional Membership (as described above) as well Association.
as the staff of our Practitioner and Professional mem- 6. Student Membership—Student Membership is
bers. Associate members receive the same benefits open to anyone who is enrolled full-time at an accred-
as Practitioner and Professional Members (described ited college or university. This level of membership
above), except for the ability to become certified carries with it all the benefits of Association member-
or receive hard copies of Association subscription ship except for the ability to become certified by the
publications. Associate Membership is open to anyone Association. The term for which one can be a Student
interested in the ideals of the Association and who member is limited to four years.
wants to take advantage of discounts on training and
Research Partner
KeyValueData™1
Subscriptions to KeyValueData are available to NACVA
members for a modest fee. They entitle subscribers access to
KeyValueData’s web portal and services where they will find
extensive valuation, and business benchmarking resources,
case law and articles library; up-to-date national, local,
industry, and comparable company research studies; and a
wide range of consulting services offered by KeyValueData’s
staff supplemented with NACVA’s 250+ member Mentor
Support Group (MSG) with specializations in every area of
valuation, financial forensics, litigation, and fraud consulting.
KeyValueData can save members countless hours in research,
and members will find fees for these services very reasonable.
Call KeyValueData to learn more: (800) 246-2488 or go to
www.keyvaluedata.com.
1. Formerly the Center for Economic & Industry Research, LLC© (CEIR).

Certification* Programs
(Application available on NACVA’s website www.nacva.com or by calling Member Services.)
Practitioner members of the Association may apply The Association reserves the exclusive right to deter-
for certification as a Certified Valuation Analyst mine the eligibility of its members to become certified.
(CVA), Accredited Valuation Analyst (AVA), or Certi- Only members who are qualified and have obtained
fied Forensic Financial Analyst (CFFA). The CVA one of the designations may use the appropriate
and AVA designations are the only valuation cre- appellation following their name. The Association
dentials that have been accredited by the National reserves the right to terminate a member’s Certified
Commission of Certifying Agencies (NCCA), the status if it is determined the member no longer meets
accreditation body of the Institute for Credentialing the requirements of professional competence, Stan-
Excellence (ICE). NACVA’s designations serve to dards of Professional Practice, or ethical behavior as
advise other professionals, prospective clients, and established by the Association’s Boards. Certification
the community at large that the member has satis- of members is a paramount objective of the Asso-
fied the Association’s rigorous standards of profes- ciation. Accordingly, a nominal administration fee,
sionalism, expertise, objectivity, and integrity in the which may change from time to time, will be assessed
fields of business valuation (CVA/AVA), financial of members who apply for Certification. All qualified
forensics consulting (CFFA), and the services that members of the Association are encouraged to pursue
fall within the scope of these disciplines. a designation.
Policy on Confidentiality and Document

Retention
All members designated by the Association are pub- Paper records pertaining to Continuing Professional
lished in our Credentialed Member web directory; Education and the CVA/AVA Exam are destroyed
information provided there is made available to the after five years (the Case Study Workpapers, however,
public. All other information in our files pertaining are destroyed immediately upon successful comple-
to a member of NACVA, other than whether or not tion of peer review).
someone is a member of the Association, is held in
strict confidence, and only under court order will it be
released to outside parties.
* Certification, Accreditation, Credential, Designation, and Appellation are used interchangeably.
Qualifications for CVA Certification
To qualify for the Certified Valuation Analyst® (CVA®) 4. Attend an optional five-day training program;
designation, the applicant must:
5. Submit three personal and three business refer-
ences; and
1. Hold a valid and unrevoked CPA license issued
by a legally constituted state authority (the 6. Pass a comprehensive five-hour multiple-choice
Chartered Accountant [CA] designation issued in proctored examination.
Canada is equivalent to the CPA in the U.S.); An application to take the examination must be
2. Be a Practitioner member in good standing with submitted prior to issuance of the exam. To hold an
NACVA; active CVA designation, individuals must maintain
current Practitioner, Academic, or Government mem-
3. Successfully demonstrate that applicant meets
bership in NACVA and maintain their CPA designa-
NACVA’s “experience threshold” by completing
tion. CVAs who allow their membership to lapse will
a sample Case Study or submitting an actual and
lose their certification and must reapply to become
sanitized Fair Market Value (FMV) report (FMV
certified if they later choose to reinstate their mem-
as defined by Revenue Ruling 59–60) prepared
bership.
in the last 12 months for peer review*;
* See Experience Alternative for Case Study on page 12.
Qualifications for AVA Certification

To qualify for the Accredited Valuation Analyst (AVA) D.B.A. from an accredited institution of higher
designation, the applicant must: education and having some work experience.
Or, having obtained an accreditation from
1. Hold a business degree (i.e., management, another recognized valuation-accrediting
economics, finance, marketing, accounting, or organization.
other business field) and/or an MBA (masters
of business administration) or higher business 3. Be a Practitioner member in good standing with
degree from an accredited college or university; NACVA;
2. Be able to demonstrate with business references 4. Successfully demonstrate that applicant meets
or attestations from current or previous employ- NACVA’s “experience threshold” by completing
ers and/or partners “substantial experience” in a sample Case Study or submitting an actual and
business valuation. For this purpose, substantial sanitized Fair Market Value (FMV) report (FMV
could mean: as defined by Revenue Ruling 59–60) prepared
a. Two years or more of full-time or equivalent
experience in business valuation and related 5. Attend an optional five-day training program;
disciplines (for an expanded definition of what
6. Submit three personal and three business refer-
constitutes experience, see how it is defined
ences; and
under our Recertification policy on pages 12
–15 under “Points for Experience”); or 7. Pass a comprehensive five-hour multiple-choice
b. Having performed ten or more business valu- proctored examination.
ations where the applicant’s role was signifi- * See Experience Alternative for Case Study on page 12.
cant enough to be referenced in the valuation
A solid knowledge of accounting fundamen-
report or a signatory on the report; or
tals is felt by the organization to be one of the
c. Being able to demonstrate substantial skill sets foundational to performing business
knowledge of business valuation theory, valuations. As such, for applicants without a
methodologies, and practices. background in accounting we recommend and
For example, having a combination of pub- offer a self-study course in accounting as part
lished works on the subject and completed of your preparation to take our certification
either a Ph.D. in finance or economics or exam. Please call NACVA for more informa-
tion.

An application to take the examination must be Joining NACVA is like joining a professional
submitted prior to issuance of the exam. To hold family. There is always someone willing to
an active AVA designation, individuals must main- answer questions and provide assistance.
tain current Practitioner, Academic, or Government It is an honor to participate with such a
membership in NACVA. AVAs who allow their mem-
bership to lapse will lose their certification and must professional organization.
reapply to become certified if they later choose to rein- —Patricia A. Perzel, CPA, CVA, CFFA, CFF
state their membership.
Qualifications for tive AVA designation, individuals must maintain cur-

rent membership in NACVA. AVAs who allow their
Government Employed membership to lapse will lose their certification and

must reapply to become certified if they later choose
Valuators to reinstate their membership.
* See Experience Alternative for Case Study on page 12.
NACVA offers the AVA certification to government

employees under a different set of criteria. To qualify
Denial of Qualifications
the applicant must: The qualifications to be met prior to obtaining
1. Have a four-year college degree, i.e., a minimum NACVA’s credential and permission to take the exam
of a BA, BS, or similar degree; are defined by the Valuation Credentialing Board
(VCB), who has final authority in this area. An ap-
2. Have the combined equivalent of two years of plicant who has been advised by NACVA staff they
full-time experience in business valuation (BV). do not qualify to obtain the credential or sit for the
BV experience requirements must be approved exam may appeal to the VCB. This appeal should be
by the applicant’s immediate supervisor or the in writing, along with the applicant’s reasoning as to
BV Committee for the applicable government- why they do qualify, and any documentation to assist
funded institution; the VCB in making a determination. The data should
3. Have a minimum GS-12 or comparable rating be faxed or e-mailed to the current Chairperson of
(exceptions will be considered upon written the VCB. The applicant will find this information on
request from a supervisor attesting to the ap- NACVA’s website or by calling NACVA’s Executive
plicant’s qualifications and competency to pursue Director. The Chairperson will place the appeal on
certification); the agenda for its next meeting and consideration
by the full board. There will be no follow-up by the
4. Be a Government employee member in good VCB for additional information, as such the applicant
standing with NACVA; should be sure to include any relevant information
5. Be currently employed by a federal or state with the initial appeal. The Chairperson will advise
government agency; the applicant and NACVA’s Director of Member Ser-
vices Department on its decision.
6. Successfully demonstrate that applicant meets
NACVA’s “experience threshold” by completing
a sample Case Study or submitting an actual and
sanitized Fair Market Value (FMV) report (FMV
CVA/AVA Exam and
as defined by Revenue Ruling 59–60) prepared
Process
7. Attend an optional five-day training program; The certification process consists of two parts test-
ing knowledge and evaluating applied experience.
8. Submit three personal and three business refer- Part One (knowledge) is the proctored portion, Part
ences; and Two (applied experience) is a take-home/in-office
9. Pass a comprehensive five-hour multiple-choice case study. The five-hour proctored exam consists
proctored examination. of multiple-choice questions. It tests applicants on
NACVA’s Body of Knowledge. The exam is adminis-
An application to take the examination must be sub- tered at the conclusion of a five-day training program
mitted prior to issuance of the exam. To hold an ac- NACVA sponsors throughout the country, or at one of
thousands of locations NACVA has contracted
nationwide for the applicants’ convenience. Part Two
is a 40-60 hour sample Case Study that is provided by
NACVA and requires performing a complete business
valuation (See Experience Alternative for Case Study
below). Applicants have 60 days to take the proctored
exam and complete the Case Study upon submitting
their application to take the exam and receiving notice
of approval. Candidates are notified of proctor exam
results within one to two weeks; and within two to
four months for the Case Study. Either part of the
certification process, if failed, may be retaken for a
modest fee to cover postage, copying, graders fees, etc.
Certain time restrictions apply. (Your NACVA Mem-
ber Services Representative can provide more details
on the proctoring process.)
Experience Alternative for

Case Study
Experienced practitioners in business valuation and
related disciplines can, in lieu of doing the Case Study, of the Committee and render a decision accordingly.
submit a sanitized Fair Market Value (FMV) (as The Committee Chair changes periodically, so please
defined by Revenue Ruling 59-60) business valuation call NACVA to obtain the correct contact information.
report on an operating business, prepared in the last
Third Step: If step one and step two resulted in what
12 months, representative of the practitioner’s work
the member considers an unsatisfactory resolution—
product, for review and grading by NACVA’s Valua-
he/she should put the facts, as the member perceives
tion Credentialing Board or designated body. A fee
them, in writing, and e-mail or fax them to the Chair
must be submitted along with the application, and the
of the Valuation Credentialing Board (VCB), request-
applicant must be a current Practitioner (or Academic
ing VCB review. The Chair will place the complaint
or Government) member of NACVA prior to consider-
on the agenda for full Board consideration, and assign
ation for waiver.
a Board member to review the complaint and offer a
solution to the Board as a whole. The assigned Board
Examination and Experience member may contact the member who filed the appeal
Threshold Determination Appeals for more information, if it is thought that the writ-
ten document does not have enough detail to make a
Members may appeal an unsatisfactory review of the well-considered decision. The assigned Board mem-
Case Study as to meeting the Experience Threshold ber may contact the reviwer(s) involved for additional
and/or a failed determination on their exam. The information. The assigned Board member will pres-
process of appeal follows three steps. (Modest admin- ent the case to the full Board for resolution. The Chair
istrative and grading fees may apply.) will advise the member, by e-mail or by fax, as to
the resolution and decision made by the Board. The
First Step: The member’s first step is to contact VCB’s decision is final.
NACVA’s Exam Facilitation Specialist. At the ap-
plicant’s request, multiple-choice exams may be
hand-scored to ensure accurate grading. Many issues
CVA/AVA Recertification and
regarding the Case Study and/or valuation report can Reporting Requirements
be resolved at this level as in most cases the Case/re- (To obtain forms, visit NACVA’s website at www.nacva.com)
port will be reviewed for a second or third opinion (as
the case may be). Recertification assures that designees continue to
enhance their knowledge and maintain a level of
Second Step: If the response from step one regard- competence current with the progress of the industry.
ing the Case Study is not satisfactory, the member In its recertification program NACVA considers three
should call the Chair of the Exam and Grading Com- aspects of the valuation discipline that, if addressed,
mittee who will deliberate the matter with members
I. Points for Continuing Professional
Education (CPE)
It is great to be a part of an Designees are required to obtain a minimum of 36
organization that is always forward hours of CPE in each three-year period in valuation,
litigation, financial forensics/fraud consulting, or
thinking. Thank you for all that related applications (applicable CPE) for which the
you do. NACVA has made a very designee will receive 50 points towards fulfilling the
100-point requirement. (Fifty percent or more of
powerful and positive difference in one’s 36 hours of CPE must be in areas of valuation
my valuation career and it is a direct and/or litigation.)
result of great leadership at the top. Evidence of compliance means attesting to which
courses—or parts of courses taken—meet the require-
—Brian A. Sullivan, CPA/ABV, CVA, ment. NACVA has not defined specific approved
CFE, CBA, CMAP courses, but any course or conference sponsored or
endorsed by NACVA, or any course or conference with
valuation, litigation, or financial forensics/fraud in its
title would clearly apply. There will be gray areas, i.e.,
courses having some application to these disciplines,
and we ask designees to use their best judgment to
determine compliance and the appropriate hours to
report. NACVA reserves the right to request more
help practitioners stay well-rounded in the competent
specific proof or evidence of course attendance and
performance of their services: continual training in
content, upon which full determination can be made
the discipline, awareness of recent industry develop-
as to actual compliance with our CPE requirement.
ments, and being alert to issues that lead to or con-
tribute to the quality of one’s work product.
An additional 25 points will be awarded to designees
who can demonstrate having earned 25 hours or more
NACVA’s recertification program follows a 100-point
of applicable CPE in “excess” of their 36-hour require-
system, whereby credentialed members must obtain
ment.
100 or more points to comply with recertification.
The new point system allows points credit for life-long
learning, contributions to industry knowledge and for II. Points for Participating in NACVA
experience, upon meeting certain criteria. Recommended Programs
NACVA offers two programs it considers helpful and
Based on the frequency of changes and developments beneficial to valuators at all levels, each addressing a
in the industry, the Valuation Credentialing Board different aspect of a professional’s ongoing develop-
determined that recertification requirements must ment needs: A. Knowledge of Current Developments
be completed every three years. This period starts (KCD) and, B. Knowledge of Quality Issues (KQI).
with the first full calendar year after receiving the Participation in either of these programs will award
designation and in three-year cycles thereafter. The the designee 25 points. Participation in both will
Reporting Date for recertification is December 31 of award 50 points. More specifically, these programs
the year the compliance is due. For example, if the are as follows:
designee certified in July 2005, the recertification
requirements must be completed by December 31, A. Knowledge of Current Developments (KCD)
2008, the compliance due date. Reporting to NACVA It is recommended that designees take NACVA’s
Headquarters (HQ) is also required by December 31, course entitled, “Current Update in Valuations” (CUV)
2008. Using the example above, the next Compliance in each three-year Reporting Cycle toward satisfy-
Due Date would be December 31, 2011. Reporting to ing their recertification requirement. The eight CPE
HQ would be required by December 31, 2011, as well. hours awarded for CUV can be included in the CPE re-
Fees will periodically be assessed to designees to cover porting requirement as described in Section I, plus the
HQ costs to administer and process the recertification designee will receive 25 points toward the 100-point
program. For more details refer to NACVA’s requirement for having taken CUV. NACVA makes
Recertification brochure or visit our website at www. its CUV course available at most of our events and
nacva.com. locations. It is also available in a self-study format (12
hours CPE).
B. Knowledge of Quality Issues (KQI) copies of all relevant works or documentation validat-
It is recommended that designees participate in ing your noted contributions with your request. The
NACVA’s “Knowledge of Quality Issues” (KQI) pro- amount of points one can obtain in this category is
gram in each three-year Reporting Cycle. There are 25. A determination, which is non-contestable, will be
five options to do so: made and communicated within 30 days.
1. Participate in a Case Analysis by Phone (or in
IV. Points for Experience
person) (CAP) (two hours CPE);
Designees who demonstrate with business references
2. Complete NACVA’s Quality Enhancement Ques-
or attestations having qualifying experience during
tionnaire (QEQ) (two hours CPE);
their three-year Reporting Cycle will receive 25 points
3. Submit a sanitized business valuation report, towards fulfilling their requirements. Qualifying ex-
prepared in the last 12 months, representative perience is defined as 1500 hours in a three-year cycle
of your work product, for review and grading by in related projects or assignments involving, but not
NACVA’s Valuation Credentialing Board (VCB) limited to, any or all of the following types of activities
or designated body (this option does not qualify in items “A” or “B” that follow:
for CPE);
A. Engagements/Projects/Assignments that are
4. Attend the NACVA-endorsed live seminar designed to arrive, or in part help to arrive, at a de-
entitled, “Advanced Report Writing: Review termination of value for an entity, an interest therein,
and Analysis” (16 hours CPE); or the three-part an investment instrument, a benefit stream, or that
webinar series (six hours CPE); or are designed to help improve the value of a business
5. Attend the NACVA-endorsed webinar entitled, enterprise. Specific activities that fall within the scope
“Working through the BV Standards and Ethics of this type of qualifying experience include various
Maze” (two hours CPE). tasks required in the performance of such engage-
ments/projects/assignments as: defining objectives;
Only one of these five options can be applied towards planning procedures; applying analytical applications;
recertification under KQI receiving a maximum of conducting research and interpreting findings; formu-
25 points. CPE awarded from these can be included lating the foundation for conclusions; organizing and
towards the 36 hours CPE required under the CPE documenting results; and communicating the results
Reporting Requirement in Section I. and conclusions of such engagement/project/assign-
ment; or
The purpose of KQI is to provide a measure of qual-
ity control over designees’ work product, giving our B. Work/Services/Tasks performed as an em-
membership and the business valuation user-commu- ployee, independent contractor, graduate student
nity added assurance our members are performing or owner/operator of a business enterprise, that are
services that meet with an acceptable level of quality fundamental to one or more of the many processes/
and competence. steps characteristic to the valuation of an entity or
interest therein, or of an investment interest or benefit
stream. Specific activities that fall within the scope
III. Professional Development: Points for
of this type of qualifying experience include various
Authorship, Course Development, and
functions required in the performance of such work/
Instructing services/tasks as: preparing financial forecasts for
Upon written request, NACVA’s VCB or designated the purpose of strategically evaluating and planning
body may award designees points towards fulfilling a course of action; conducting economic research and
their recertification requirements for works of author- analysis to assess opportunities, strategic alternatives
ship on subject matter pertinent to valuation, litiga- and initiatives, competitive and economic risks; ana-
tion, or fraud. This includes writing books, articles, lyzing company and competitor financial statements
and developing courses for instruction or self-study identifying strengths, weaknesses, and competitive
purposes. Designees can obtain points for teach- risks; performing analytical procedures to evaluate
ing/presenting in these relevant areas, as well. Your the risk and worthiness of an investment; studying
request must be submitted in writing to NACVA investment characteristics to ascertain risk, sensitiv-
headquarters (HQ) detailing your contributions to the ity and alternatives; constructing economic financial
intellectual capital of the industry during your Report- statements adjusting various data recorded in histori-
ing Cycle, and for which you are requesting credit/ cal financial statements to the current economic real-
points towards recertification. You must include ity and appropriateness; evaluating industry transac-

tion data to determine its appropriateness and fit to investment decision. The total amount of points one
a subject company; designing analytical processes to can obtain in this category is 25. A determination,
test assumptions in models and forecasts to ascertain which is non-contestable, will be made and communi-
reliability and applicability to a specific application; cated within 30 days indicating the number of points,
and determining the cost of capital for evaluating an if any, to be awarded.
Certified Forensic Financial Analyst (CFFA)

CFFA Credential Criteria
The Certified Forensic Financial Analyst™ (CFFA™)
credential is offered through a subsidiary of NACVA,
the Financial Forensics Institute. It is designed to
provide assurance to the legal and business com-
munities—the primary users of financial forensics
services—that the designee possesses a level of ex-
perience and knowledge deemed acceptable by the
Association to provide competent and professional
financial forensic support services. Applicants can
train in one of five areas of specialty, any of which
lead to earning one’s CFFA credential. Those areas
are: financial litigation, forensic accounting, fraud risk
management, business and intellectual property dam-
ages, and matrimonial litigation support. Earning the
credential requires consideration of all of the person’s
qualifications and commitment to the discipline; this
includes prior education and experience, prerequisite CBV (Chartered Business Valuator),
and required training as provided (or recommended) CFA (Chartered Financial Analyst),
by NACVA, testing, and post-requisite requirements CFE (Certified Fraud Examiner),
for recertification. CMA (Certified Management Accountant),
Cr.FA (Certified Forensic Accountant),
The CFFA program encompasses all the components CPA (Certified Public Accountant),
for supporting and upholding a credential with in- CA (Chartered Accountant), or other recog-
nate value for the holder and the user community—to nized accounting or financial credential subject
be respected, not because it is the first of its kind, but to NACVA Headquarters approval, and a bache-
because it is substantial in all regards. It is a creden- lor’s degree in a business field from an accredited
tial to help practitioners build a career in their chosen university/college, or, alternatively, a master’s or
financial forensics field, plus give them the foundation doctorate in a field of business.
needed to deal with the attendant legal or corporate
board level support that often enters into engage- 2. Applicants must show proof of having provided
ments or tasks performed within these specialty fields. services in the applicable field in which they wish
The specific criteria for obtaining the credential are: to specialize. These are:
Prerequisites a. Financial Litigation:

Must have been involved in eight differ-
1. The applicant must possess one of the following ent litigation matters, three of which the
credentials or levels of education: applicant gave deposition and/or expert
testimony. (This experience require-
CVA (Certified Valuation Analyst), ment can be met by attending the three-
AVA (Accredited Valuation Analyst), day NACVA-sponsored course entitled,
ABV (Accredited in Business Valuation), “Expert Witness Bootcamp.”)
ASA (Accredited Senior Appraiser),
AM (Accredited Member of the ASA), b. Forensic Accounting and Fraud Risk Man-
CBA (Certified Business Appraiser), agement:
Must have been involved in ten engage-
Recertification
ments or have 1000 hours experience in
the applicable field. CFFAs must obtain 36 hours of CPE (Continuing Pro-
fessional Education) in areas of valuation, litigation or
c. Business and Intellectual Property Damages, financial forensics consulting, or related applications
and Matrimonial Litigation Support: in each three-year period starting with the calendar
Must have been involved in 10 engage- year after the year the credential is received (i.e., if
ments in the applicable field, or have you receive the CFFA in October 2007, you would be
had 1000 hours experience providing required to fulfill this CPE requirement by
valuation services, 200 hours of which December 31, 2010). (Fifty percent or more of one’s
were in the applicable field. 36 hours of CPE must be in areas directly applicable
to the specialty area(s) in which the CFFA designee
3. Applicants to: was credentialed.) Evidence of compliance means
attesting to which courses—or parts of courses taken—
a. The Financial Litigation program: meet the requirement. NACVA has not defined
Must attend a five-day training program specific, approved courses, but any course or confer-
offered by NACVA entitled “Litiga- ence sponsored or endorsed by NACVA, or any course
tion Bootcamp for Financial Experts,” or conference with valuation, litigation, financial
designed to provide participants a solid forensics, or fraud in its title would clearly apply.
foundation in the role of a financial There will be gray areas, i.e., courses having some
expert. application to these disciplines, and we ask designees
to use their best judgment to determine compliance
Applicants to:
and the appropriate hours to report. NACVA reserves
b. Forensic Accounting, the right to request more specific proof or evidence
c. Fraud Risk Management, of course attendance and content, upon which a full
d. Business and Intellectual Property Damages, determination can be made as to actual compliance to
and the CPE requirement.
e. Matrimonial Litigation Support:
Must attend a five-day Workshop, in the The applicant must show evidence of participation in
chosen specialty, plus a three-day finan- six engagements that fall within the scope of the cre-
cial forensics workshop entitled, “CFFA dential, meaning the specialty area under which the
Candidate Workshop.” applicant certified. Three of those engagements may
(Exceptions from the training requirements for be replaced with 16 hours of additional and applicable
all five areas of focus will be given based on expe- CPE.
rience—see Experience Waiver, below.)
4. The applicant must pass a two-part exam; one for Experience Waiver
the specialty area he/she is pursuing, and one to Financial Litigation
demonstrate a basic command of financial foren- Applicants to NACVA’s Financial Litigation program
sics and communication skills based on concepts can waive the “Litigation Bootcamp for Financial
taught in the “CFFA Candidate Workshop.” Both Experts” training requirement for the CFFA by show-
are four-hour proctored exams (8 hours for the ing proof of involvement in twenty different litigation
Financial Litigation program) given at the end of matters, ten of which the applicant gave depositions
the applicable course. and/or expert testimony, with at least one matter
5. The applicant must submit one business and before a jury.
two professional (attorneys, judges, CPAs, etc.)
references who can substantiate the applicant’s Forensic Accounting or Fraud Risk
professional stature in the community and Management
quality work product. Applicants to NACVA’s Forensic Accounting or Fraud
6. The applicant must be a Practitioner member Risk Management program can waive the CFFA train-
of NACVA; to maintain the credential one must ing requirement to the three-day “CFFA Candidate
maintain active status with the Association, Workshop” and the four-hour exam that follows by
which requires paying annual dues and comply- providing evidence that they were the lead profession-
ing with periodic recertification. al on eight reports related to the applicable discipline
and have presented their findings to a board of direc-
tors, audit committee or equivalent authoritative body

three times. (This experience requirement can also services and served as a lead professional. (A sig-
be met by attending the three-day NACVA-sponsored nificant amount of services will typically require a
course entitled, “Expert Witness Bootcamp.” No minimum of 40 hours of the candidate’s time and the
exam will be required if one elects this alternative.) issuance of a report.)
Furthermore, applicants with substantial experience Matrimonial Litigation Support and Business
in one of the following two specialty tracks can waive and Intellectual Property Damages
the five-day prerequisite training requirement, but A legal dispute (usually involving the filing of a law-
not the four-hour exam, if their experience meets or suit) for which the expert served as a lead profession-
exceeds the following thresholds: al in the rendering of a significant amount of profes-
sional services (i.e., valuation, forensic accounting,
1. Forensic Accounting—Twenty-five matters, or damages measurement, resolution facilitation, etc.)
2,500 hours of forensic accounting experience. in the applicable field. (A significant amount of ser-
vices will typically require a minimum of 40 hours of
2. Fraud Risk Management—Twenty-five matters,
the candidate’s time in an engagement and the issu-
or 2,500 hours of experience in fraud-related
ance of a report.)
matters.
Business and Intellectual Property Damages
or Matrimonial Litigation Support Electing or Imposed
Applicants to NACVA’s Business and Intellectual
Property Damages, or Matrimonial Litigation Support Inactive Status
program, can waive the CFFA training requirement to
Certified members who wish to defer recertification
the three-day “CFFA Candidate Workshop” and the
compliance and reporting due to extended inactivity
four-hour exam that follows by providing evidence of
in business valuation, financial forensics, unemploy-
involvement in eight different litigation matters, three
ment, or a medical condition, but do not want to
of which the applicant gave deposition and/or expert
lose their certification, may elect “Inactive Status” as
testimony. (This experience requirement can also be
an Associate or Professional member, for up to five
met by attending the three-day NACVA-sponsored
years. Under this election (which is automatically
course entitled, “Expert Witness Bootcamp.” No
imposed for non-compliance with recertifica-
exam will be required if one elects this alternative.)
tion), the member may not use the NACVA
designation in any capacity, i.e., on business
Furthermore, applicants with substantial experience
cards, in company literature and letterhead,
in one of the following two specialty tracks can waive
his/her curriculum vitae, all organization web-
the five-day prerequisite training requirement, but
sites–including member directories, etc., and
not the four-hour exam, if their experience meets or
will have to fulfill the recertification require-
exceeds the following thresholds:
ments for one reporting period to reactivate.
If reactivation occurs within one year, the member
1. Business and Intellectual Property Damages—
may keep his/her original date of certification but
Twenty-five matters, or 2,500 hours of valuation
must continue on the original recertification cycle.
experience of which 1,500 must be related to
Otherwise, the member’s effective date of certification
business or intellectual property damages mat-
will be changed, and a new certificate issued to reflect
ters.
the current date, placing the member on a new three-
2. Matrimonial Litigation Support—Twenty-five year recertification cycle.
matters, or 2,500 hours of experience in mat-
rimonial matters, or 2,500 hours of valuation Members who have gone more than three but less
experience of which 1,500 must be related to than five years as inactive are required to take cer-
matrimonial matters. tain courses (call NACVA for a list) to fulfill part of
their 36-hour CPE recertification requirement. This
“Matters” has been defined as follows: is to assure the member is abreast of recent industry
developments. Five or more years of Inactive Status
Forensic Accounting and Fraud Risk requires that one retake the CVA/AVA exam to reac-
Management tivate. A reactivation fee is assessed to reinstate one’s
An engagement in the applicable field for which the status from Inactive to Active Status regardless of
expert rendered a significant amount of professional whether or not it was elected or automatically im-
posed by NACVA Headquarters.
Special Consideration tion Analysts. Retired status means the analyst
no longer must comply with the Association’s
for Active Military Service recertification requirements. Such requirements
are intended to keep credentialed members of
During Deployment the Association abreast of current developments
in the field of valuations and attuned to quality
issues that pertain to the performance of busi-
1. Upon notification and prior to deployment,
ness valuations.”; or
NACVA membership dues will be suspended (put
on hold) for the duration of deployment; 3. The retired member may issue the report, but
is prohibited from having any document or
2. When member returns from active duty, mem-
communication related to the report or the
bership dues will be reinstated;
engagement make reference or mention to the
3. If recertification became due during the period retired member’s CVA (retired), AVA (retired), or
of deployment, member is granted one year from CFFA (retired) status, including but not limited
when he or she returns to fulfill the recertifica- to, letterhead, headers/footers of the report,
tion requirements. business cards, and/or his/her curriculum vitae.
Retired Status Candidate Status

Individuals, 62 years and older, who are retired and 1. Designations: CVA (Certified Valuation Analyst)
issuing six or fewer valuation or calculation reports and AVA (Accredited Valuation Analyst).
per year, can continue to display their credential as
2. Designation Applicant: Person who is seeking to
long as they include “retired” after their designation,
attain either the CVA or the AVA Designation,
for example, CVA (retired), AVA (retired), or CFFA
but has not completed all of the requirements or
(retired). Those who elect retired status can maintain
finalized the process of attaining the Designation.
NACVA membership as a Professional member or an
Associate member, and are not required to comply 3. Designation Applicants who lack the necessary
with recertification requirements, which for CVAs in- Experience Requirement (see paragraph 5.
cludes no longer having to maintain their CPA license. below), but who have passed NACVA’s proctored
certification exam and have demonstrated that
A retired member may not market his/her services, they meet NACVA’s “Experience Threshold”
but may accept unsolicited valuation or financial (see paragraph 6. below) can use the applicable
forensics projects, and must adhere to special require- Designation, however, the Designation Applicant
ments as defined by NACVA’s Valuation Credentialing must display the qualification “Candidate” after
Board or Litigation Forensics Board, as applicable. In the Designation, i.e., CVA Candidate, or AVA
all cases, the retired member must follow NACVA’s Candidate. The Designation Candidate has up
Professional Standards in the performance of such to three years to fulfill the applicable Experience
work. If the retired member is issuing a report of any Requirement, and to attest to such evidence, at
kind, written or oral, the retired member has three op- which time the qualification of “Candidate” will
tions as identified in items 1, 2, and 3 below. no longer be required to be displayed with the
attained Designation. If such evidence is not
1. If such report is to be signed or verbally commu- produced within three years, the Designation
nicated by the retired member as CVA (retired), Applicant will lose the right to use the Designa-
AVA (retired) or CFFA (retired), the retired tion altogether.
member must first have it reviewed/critiqued
4. Designation Applicants who lack the necessary
by an active designated member as assigned by
“Experience Threshold” requirement (see
NACVA headquarters, and follow the advice of
paragraph 6. below), but who have passed
the reviewer (such service will be provided for a
NACVA’s proctored certification exam and have
nominal fee); or
demonstrated that they meet NACVA’s “Experi-
2. The following disclaimer must be footnoted on ence Requirement” (see paragraph 5. below),
the signature page of a written report, or verbally can use the applicable Designation, however, the
communicated in an oral report: “The analyst Designation Applicant must display the qualifica-
signing this report has elected retired status tion “Candidate” after the Designation, i.e., CVA
with the National Association of Certified Valua- Candidate, or AVA Candidate. The Designated

Candidate has up to three years to fulfill the Revenue Ruling 59-60. Previously, the submis-
applicable Experience Requirement, and to attest sion of a Case Study was part of the examination
to such evidence, at which time the qualification process, but as of April 1, 2010, the Case Study is
of “Candidate” will no longer be required to be a demonstration case that indicates that the Ap-
displayed with the attained Designation. If such plicant meets NACVA’s “Experience Threshold.”
evidence is not produced within three years, the Demonstration of the “Experience Threshold” is
Designated Candidate will lose the right to use submission of the Case Study or an actual FMV
the Designation altogether. valuation report, and receiving notification from
NACVA that the demonstration report meets the
5. Experience Requirements for Designations:
“Experience Threshold” standard.
a) Experience Requirement for a “CVA Candi-
date”: Applicant must have the legal right to
display “CPA” after their name. A CVA Ap-
CFFA Candidate Status
plicant lacks the Experience Requirement if CFFA Applicants who lack the necessary experience
he/she has either (i) passed the CPA exam, requirement but have passed NACVA’s proctored
but is lacking the experience requirement as certification exam can use the appellation, but must
identified by his/her state, which prevents the display the word “Candidate” after the Designation,
Applicant from obtaining the CPA license and i.e., CFFA Candidate. The Designated Candidate has
displaying “CPA” after his/her name, or (ii) up to three years to fulfill the applicable experience re-
who has a suspended or lapsed CPA license. quirement and attest to such evidence, at which time
Candidates must comply with NACVA’s recer- the Designated Candidate will no longer be required
tification requirements. to display the word “Candidate” when using the
Designation. If such evidence is not produced within
b) Experience Requirement for an “AVA Candi- three years, the applicant will lose the right to use the
date”: Applicant must have met the Substan- appellation altogether. Candidates must comply with
tial Experience Requirement, as defined in NACVA’s recertification requirements.
“Qualifications for AVA Certification.” Candi-
dates must comply with NACVA’s recertifica-
tion requirements. Transferring Designations
6. Experience Threshold: Effective April 1, 2010, NACVA allows CVA and AVA designated members
CVA/AVA Applicants are required to demon- to transfer from one credential to another, i.e., CVA
strate that they meet NACVA’s “Experience to AVA or AVA to CVA. Applicants must meet all the
Threshold” by completing a sample Case Study, prerequisites and requirements.
or submitting an actual and sanitized Fair Mar-
ket Value (FMV) valuation report. FMV, as used
herein, is to be fair market value as defined by
My membership and affiliation with NACVA has professionally

benefitted me by creating a primary resource for practice and
marketing tools, information, and training, as well as recognized
credibility and respect wtih potential clients. NACVA membership
affords belonging to a network of other professionals who are
knowledgeable and supportive, and who have proven to be valuable
resources to me in technical and practice development matters, I
truly have found NACVA to be one of the most useful and supportive
professional organizations that I have belonged to.

—Gail A. Kasmir, CPA, CFE, FLMI, CVA, CFFA 19
19
Certified Fraud Deterrence Analyst (CFD)
CFD Credential Criteria
(CFFA) credential as the two credentials and the req-
The Certified Fraud Deterrence Analyst (CFD) cre-
uisite criteria for obtaining them, along with the types
dential was designed to provide assurance to the legal,
of services their holders provide, possessed many
business, advisory, and CPA communities the designee
common characteristics. The Association believed the
possessed a level of experience and knowledge deemed
combination of the two would add clarity and better
acceptable by the Association to provide competent
define what it means to be a Certified Forensic Fi-
and professional fraud deterrence and analytical foren-
nancial Analyst (CFFA). One, however, can choose to
sics services. On January 1, 2007, the CFD credential
specialize in Fraud Risk Management.
merged into the Certified Forensic Financial Analyst
The CFD credential is no longer offered by NACVA and has been merged into the CFFA.
Boards and Committees

NACVA Boards
To assure the integrity of the Association, NACVA members oversee key aspects of NACVA’s Charter. The
mechanism to provide member oversight consists of five boards to oversee Association activity in critical areas
having the greatest impact on a member’s livelihood. Most Board positions are elected by NACVA’s general
membership as indicated below:
BOARDS:
# of # of # of Term Needed # of
Board Elected Assigned in for a Voting
Positions Positions Positions Office Quorum Positions
Executive Advisory Board (EAB) 12 7 5 3 5 9
Valuation Credentialing Board (VCB)* 12 6 6† 3 5 9
Education Quality Assurance Board (EQAB) 12 0 12 3 5 9
Ethics Oversight Board (EOB) 8 6 2† 3 5 8
Litigation Forensics Board (LFB) 12 6 6† 3 5 8‡

* Both the CVA and AVA must have representation in the voting positions
† Two positions are EAB assigned
‡ One position must be a voting non-member who represents the public

At the first of each calendar year, a Nomination Form is made available to each NACVA member to provide
the opportunity to submit one nomination (a member may nominate him or herself), and to identify on which
Board the nominee is recommended. Before nominating someone for a position, one should verify the per-
son wants to be nominated and that he/she will be committed to serving on that Board for a three-year term.
Encourage him or her to submit a CV or biography to headquarters for publishing on NACVA’s website. After
nominations are received, an election ballot will be prepared and sent to the membership for voting.
General Nomination/Election Rules

The Executive Advisory Board (EAB) has established the nomination/election rules as follows:
1. An individual must first be a NACVA member in good standing.
2. An individual can be nominated to only one of the three member-elected Boards, currently the Valuation
Credentialing Board (VCB), the Ethics Oversight Board (EOB), and the Litigation Forensics Board (LFB).
3. Candidates for positions open on the VCB, EOB, and LFB are nominated by NACVA’s general member-
ship. All positions on the Education Quality Assurance Board (EQAB) are assigned by the EAB.
4. Board positions are staggered to provide for annual rotation and to maintain continuity from year to year.
a. Elected terms run from June 1 to May 31 and are usually three years.
5. Elected Board members cannot serve consecutive terms on their current Board or another Board. They
are required to sit out for one year. Exceptions to this rule are made when:
a. A Board member has served one year or less on a Board;
b. A Board member is elected to the EAB after serving a term on the VCB, EOB, EQAB, or the LFB;
c. A Board member is appointed to a newly formed Board by the EAB in the establishment of the
Board and serves less than a full three-year term;
d. A Board member is appointed to one of the EAB-assigned positions on the VCB, EOB, EQAB, or
the LFB.
6. EAB members cannot serve consecutive terms on the EAB or from the EAB to the VCB, EOB, EQAB, or
the LFB.
7. No individual can serve on two Boards simultaneously. If an individual nominated for two Boards is
elected to both, the individual must select one Board to which he or she will belong. The position on the
second Board will go to the individual receiving the next highest number of votes. A new election is not
held.
8. An individual nominated to one of the three member-elected Boards (the VCB, EOB, or LFB) can also be a
nominee for the EAB.
9. If a nominee is elected to both the EAB and one of the other three Boards, or that person currently sits on
one of the other Boards, that individual will have to choose on which Board to serve.
10. Seven of the 12 positions on the EAB are nominated by the members of that Board, with at least two
nominees for every position opening up that year.
a. Three of the 12 EAB positions are chosen by NACVA’s Board of Directors, and NACVA’s President,
Vice President and Executive Director participate on the EAB in non-voting and advisory roles.
b. Past EAB members may be re-nominated by the EAB to be on the ballot, but no more than one per
election.
11. Two voting positions on the VCB, EOB, and the LFB are assigned by the EAB for terms from one to three
years.
a. One of the positions on the VCB must be a non-member, representing the public and users of valu-
ation services.
b. The VCB and LFB (not the EOB) can each assign up to four non-voting advisors, who must be ap-
proved by the EAB, to its Board for terms from one to three years.
12. Resignations: When a Board Member resigns, such resignation may not be rescinded by that Board
Member after it has been accepted. Such resignation can be accepted and affirmed verbally or in writing
by NACVA’s President, EAB Chair, specific Board Chair, Headquarters’ Chief Executive Officer, or the
Executive Director.
The board position that has been vacated will go to the individual who received the next highest number of
votes in the last board election. This individual will assume and complete the remaining period of the retiring
board member’s term. A new election is not held.
Board Member Restrictions

Board positions are restricted to no more than one position, for all boards, from any one firm or company, in-
cluding national and regional firms. Board members cannot serve on the board or ruling body of any
organization that directly competes with NACVA. EAB members cannot serve on the board or ruling body of
any organization that directly competes with NACVA for a period of one year after the expiration of their term.
As a condition to be included on the election ballot, all members nominated to any of the Boards must sign a
binding “confidentiality and indemnification agreement,” which binds them to confidentiality and indemnifies
them from liability should they be elected to serve on a Board.
Purpose and Scope of the Boards

Valuation Credentialing Board (VCB)
The VCB has direct decision-making responsibility over the CVA
and AVA certification criteria including: test development, testing,
scoring and grading procedures, eligibility and experience require-
ments, CPE reporting, CPE requirements and reporting cycle, and
recertification requirements. The VCB does not have the authority
to create a new credential. The VCB has the authority to review the
administrative procedures at NACVA headquarters (HQ) over the
testing and recertification processes. VCB directives in these regards
are made to the Executive Director. If the Executive Director does
not comply, the VCB has the authority to take the matter to a higher
level, that being the CEO or Board of Directors. The VCB, at its
discretion, may evaluate other organizations’ testing processes and
evaluate new technology and approaches to testing methodologies in
order to maintain the highest quality standards in NACVA’s certifi-
cation process. The VCB has no direct responsibility for education.
The VCB is responsible to uphold the mission of the valuation certifi-
cation program.
Education Quality Assurance Board (EQAB)

The EQAB has the responsibility for ensuring the education provided
by NACVA meets acceptable established levels of quality by develop-
ing evaluation criteria for the educational materials, conducting peer
review programs, assisting with the development and advancement
of innovation and advanced education throughout the organization,
academia, the U.S., and beyond. In addition, this Board is charged
with maintaining and incorporating changes in the industry, iden-
tifying new authors, instructors, course developers, and making
overall improvements to the quality of education that NACVA offers
its members and the public. The EQAB also oversees and manages
the effectiveness of the 100-member Course Review Committee and
the process in which they review each of our 80+ courses for style,
content, educational quality, and technical accuracy.

Ethics Oversight Board (EOB)
The EOB is charged with the monitoring of NACVA’s membership with regards to ethical and professional
standards. The EOB’s responsibilities include creating policies for educating, monitoring and enforcing com-
pliance. The EOB’s duties also include facilitating awareness and enhancing the membership’s understanding
of NACVA’s standards, and when necessary investigating and determining whether a member or members
have violated NACVA’s Standards. Any Standards recommendations and issues that fall under the scope of
this Board should be submitted, preferably in writing, directly to the EOB Chair. A copy of the EOB’s Policies &
Procedures Manual can be found on NACVA’s website at www.nacva.com.
Executive Advisory Board (EAB)

Although the EAB does not make decisions on matters that fall under the scope of the VCB, EOB, EQAB, and
LFB, it, must ratify decisions of these Boards that fall outside the scope of the Boards stated purpose and mis-
sion in order for the decisions to be acted upon by the Association. The EAB does have decision-making au-
thority over matters pertaining to education and credentialing which fall outside the scope of the VCB and LFB.
The EAB has the authority to appoint or establish various NACVA committees and task forces and has, with ap-
proval from the Board of Directors, the authority to define the purpose and mission of the Boards when needed
and justified to better serve the changing and evolving needs of the Association. Further, the EAB may propose
to the Board of Directors the creation of new Boards to serve specific functions to better serve the changing and
evolving needs of the Association. The EAB takes part in strategic planning for the Association, working with
NACVA’s Board of Directors and provides creative and informative oversight and guidance to the VCB, EOB,
EQAB, and LFB.
Litigation Forensics Board (LFB)

The LFB has the responsibility of evaluating the content of NACVA’s litigation and forensics-related curricu-
lum to provide assurance course content remains objective, technically and fundamentally sound, and presents
information in a proper perspective giving consideration to course objectives, credentialing requirements, time
limitations, and other relevant factors necessary to the creation and development of a well-rounded and sub-
stantive training program. The LFB’s responsibilities are further expanded to oversee credentialing criteria,
both pre- and post-requisite, for NACVA’s Certified Forensic Financial Analyst (CFFA) designation. This in-
cludes testing and grading procedures, experience requirements, reciprocity and recognition programs, quality
and/or peer review, and recertification.
Other Elements Pertaining to the Boards

1. The EAB is accountable to NACVA’s Board of Directors, whose composition is determined by the share-
holders of NACVA.
2. The Board of Directors has the ultimate veto power over changes approved by the EAB but must report its
decisions to reverse EAB decisions in the Association News within 60 days of the veto.
• The EAB and the Board of Directors cannot initiate changes that fall under the purview of the VCB,
EOB, EQAB, and LFB, other than by suggestion.
• The EAB and the Board of Directors each have the authority to request a survey of the membership.
3. Each Board votes on its own Chairperson and Secretary.
• Board members can serve as Chair for one year during their term.
• Second terms as Chair are subject to EAB approval.
4. The determination of fees and charges remains under the purview of the Board of Directors.
5. The shareholders of NACVA can sit on the VCB, EOB, EQAB, or LFB, or they can have a representative
present at the meetings, in a non-voting capacity.
• NACVA headquarters may also assign a representative(s) to attend meetings of the Boards, in a non-
voting capacity.
Board Member Responsibilities
It is important to note that Board positions are voluntary. Minimum expectations are provided to assure inter-
action between members, keep Boards on a forward-moving path, provide a structure for carrying initiatives
to conclusions, and keep members involved by giving them a voice in Association matters. Individual Board
member expectations are as follows:
1. Commit to spending at least 40 hours on Association matters per year.
2. Attend NACVA’s Annual Consultants’ Conference.
3. Participate in all Board conference calls (generally held each month).
4. Act as a liaison to at least one other Board or Committee.
5. Contribute to one Board Update article per year for publication in the Association News.
6. Each fiscal year, Board Chairs should create their own set of Board expectations that could be added to
this list. This could also include yearly goals.
The expectations for EAB members is 80 hours per year and requires participation in monthly conference calls
and one to two face-to-face meetings per year.
Board Member Benefits Package

Board members will not be compensated for their position and will have to pay out-of-pocket expenses for
travel, phone, and postage. However, NACVA does provide
the following benefits package for Board members during their
term(s):
1. Membership dues are waived for each year served, plus,

board members receive a considerable discount off the
annual fee when they subscribe to KeyValueData.
2. Fifty-percent (50%) discount on registration fees paid to
attend NACVA’s Annual Consultants’ Conference instead
of the standard 10% member discount and any additional
discounts such as early registration. (This discount does
not apply to other seminars or programs sponsored by
NACVA. The conference is usually held in late May or early
June each year.)
3. Board members receive a 20% discount on all other NACVA
products, seminars, and services instead of the standard
10% member discount, but only on products, seminars, and
services where the 10% member discount is applicable.
4. HQ will pay for all NACVA Board member conference
calls so long as a quorum and a NACVA staff member are
present and complete minutes of the meeting are taken and
provided to HQ and the EAB liaison.
5. In each issue of the Association News, we will briefly profile
individual members of each Board, assuring that everyone
is profiled at least once during his/her term.
6. Board members can use the Association News to announce their upcoming speaking engagements.
7. Board members can use NACVA’s “toll-free product information” line when calling HQ. That number is
(800) 677-2009.

NACVA Board and Committee Organization Chart
NACVA’s Ambassadors Club

NACVA’s Ambassadors Club is an official group of have served on NACVA’s Executive Advisory Board;
individuals whose purpose is to expand our reach by cannot be currently serving on competitor board; have
performing a variety of functions on behalf of NACVA intimate knowledge of the NACVA organization—its
Headquarters (HQ). Their service to the Associa- structure (internal and external), products, services,
tion includes overseeing the publication of a periodic mission, plans, goals and objectives; and be willing to
value-driven e-mail newsletter for members called serve in a variety of capacities.
QuickRead designed to keep members abreast of cur-
rent consulting industry developments; non-technical Ambassadors are selected by the President or CEO of
presentations about NACVA and the industry to re- NACVA, with approval from the Board of Directors,
questing organizations; meeting with various groups and hold a minimum term of two years, after which
and organizations to structure alliances and strategic Ambassadors may be asked to serve again with an
relationships; representing NACVA at conferences indefinite maximum term. Ambassadors receive spe-
and programs of other organizations with whom cial acknowledgement at NACVA events they attend,
NACVA is or wants to be aligned; handling matters all expenses paid while traveling for engagements on
in various parts of the country on behalf of HQ where NACVA’s behalf, and a special benefits package for
and when HQ does not have the available staff or time Ambassadors who continue to support NACVA and
to otherwise handle. To be an Ambassador, one must remain active within the group.
NACVA has been very instrumental in my development as a valuation

professional; and I may add, the value of the relationship has been
directly proportional to my involvement with NACVA on the various
committees, boards, and training centers.
—Ed Cordes, CPA/ABV, CVA
NACVA Committees
NACVA has eight Committees: accomplish assignments for the year or given
period of time in which assignments need to be
• Annual Conference Planning completed.
• Course Review
• Exam & Grading 8. HQ will set up and pay for the phone confer-
• Ideas & Technology ences. Committee Chairs need to coordinate
• Practice Development these meetings through HQ. A contact person at
• Recertification HQ is assigned to each Committee. The contact
• Standards person will schedule the conference call with
• State Chapters NACVA’s conferencing center; however, the
Chairs are responsible for sending documenta-
The Committees offer one of the best opportunities for tion to members, i.e., date and time, agenda,
members to participate in the decision-making pro- minutes from previous meeting, other support
cess and contribute to the development of the materials, etc.
Association. Committee positions are reaffirmed
annually or each time the Committee is called upon 9. Committee participation is voluntary and unpaid.
for its support. This reaffirmation allows members to Members may note their participation on their
come and go from the Committee as their time per- curriculum vitae (CV) and will receive special
mits and keeps the Committee vital with a constant acknowledgement at conferences and in the
rotation of members offering varying levels of sup- Association News.
port. Members can sit on a Committee for as long as 10. Committee decisions, recommendations, and
they wish. Some of the Committees can open up new initiatives can be made by a majority of those
financial opportunities for members, depending on present at a meeting. Quorums are not ap-
level of involvement. Some Committees also offer op- plicable. NACVA’s goal with the Committees is
portunities to gain local or national recognition. to elicit constructive, well thought-out, discussed
ideas and suggestions from the membership.
The information below outlines the General Parame- The Committee structure provides an avenue in
ters within which all Committees should operate with which this type of input is possible.
more detailed descriptions of each Committee’s Role
and Purpose.
General Parameters
1. The number of Committee members maybe
limited by the Executive Advisory Board if in its
opinion the committee size needs to be restricted
to help it function more efficiently.
2. HQ will assign Committee Chairs.
3. Each Committee will receive at least one assign-
ment per year either from HQ or the Board to
which they report (Overseeing Board).
4. A liaison from HQ and/or the Committee’s
Overseeing Board will be assigned each year to
help facilitate Committee activity.
5. Committee Chairs, assignments, and liaisons will
be communicated from HQ in June/July each
year to all Committee members.
6. Committee rosters will be updated annually and
forwarded to Chairs in June/July.
7. Committee Chairs will have the responsibility to
initiate and coordinate periodic phone confer-
ences with members as deemed necessary to

Role and Purpose NACVA’s Q&A database; and, assess exam content for
balance in addressing all relevant topics taught in our
Annual Conference Planning Business Valuation and Certification Training Centers,
Committee (ACPC) and make suggestions accordingly. The Committee’s
primary purpose is to provide added assurance our
This Annual Conference Planning Committee’s pur- examination and grading processes are of the highest
pose is to help NACVA Headquarters (HQ) plan, integrity. It is hoped that most members of the EGC
develop, and execute its spring conference. The will also participate on NACVA’s CVA/AVA Exam
Committee can establish subcommittees as needed Grading Team. Graders are compensated for their
and has the responsibility for refining program services. The EGC reports to the Valuation Creden-
agendas, identifying and securing presenters, assign- tialing Board (VCB), and to HQ.
ing moderators, and recruiting attendance through
State Chapter support, all of which must be done in Ideas & Technology Committee (ITC)
a timeframe determined by HQ. HQ handles all the
financial arrangements, including determining loca- The Ideas & Technology Committee will meet
tions, meeting facility negotiations and contracts, as periodically with the primary purpose of brainstorm-
well as presenter commitments and travel. HQ also ing, beta testing, and providing ideas and suggest
markets and promotes the conference, but organizing ions to NACVA headquarters. Members need to be
members of the committee get recognition for orga- current on all of NACVA’s products, services, sup-
nizing the event. The ACPC reports to HQ. port, and benefit programs, as well as those of other
organizations in the BV community. With this Com-
Course Review Committee (CRC) mittee, NACVA hopes to gain better insight into the
needs and desires of our membership, the competitive
The Course Review Committee has the responsibil- environment, new technologies, and the direction of
ity of reviewing NACVA’s substantial curriculum. Its the industry. Committee involvement is of a strategic
members work under the direction of NACVA’s Edu- nature; as such, members must maintain confidential-
cation Quality Assurance Board (EQAB) and the CRC ity. The ITC reports to HQ.
Oversight Team, follow established criteria in evalu-
ating curriculum content, completeness, accuracy, Practice Development Committee (PDC)
topical weighting, formatting, and, where practical,
observe the seminar presentation to provide comment This Committee was formed to pool together mem-
and feedback on the quality, flow, and cohesiveness of bers’ thoughts, ideas, and wish lists on how NACVA
the presentation. Reviewers work under the direction can better support its members’ entire firms. Discus-
of one Editor to whom they are assigned and within sion should focus on the evolving and changing needs
predetermined timeframes to complete assignments. of today’s business consultant with a forward view to
The position is not compensated, but Reviewers anticipate the needs of the future. We want commit-
receive free training materials, and CPE credit upon tee members to be associated with a firm, i.e., not sole
request. Reviewers’ names are also listed in the front practitioners (this is not mandatory). The scope of
of the course materials, which can be added to the Re- the Committee is broad in that nothing is outside the
viewer’s curriculum vitae. The number of Committee realm of discussion. Committee members can and
members is not restricted as NACVA has many cours- should discuss needs pertaining to technology, staff
es to review, will have multiple Reviewers review the development, client issues, marketing, re-engineering,
same course, and will continue to add more courses in outsourcing, value-added services, time manage-
the future. Also, courses will need to be re-reviewed ment, insurance, and anything else that impacts the
as updates and rewrites occur. This will assure our Committee members’ own business development
curriculum reflects current theory, practice, and in- where possible solutions (even remote) may be found.
dustry applications. The CRC reports to the EQAB. The Committee should not anticipate limitations on
NACVA’s potential to address the firm needs of our
Exam & Grading Committee (EGC) members; members should consider that anything
and everything is possible from NACVA. Many HQ
The Exam & Grading Committee comprises the Sub- initiatives coming from Committee recommendations
ject Matter Experts (SME) for NACVA, and its respon- will be utilized to help NACVA build its service offer-
sibility is to review and make recommendations on ings to members and their firms. The PDC reports
grading procedures, answer keys, and the quality of directly to HQ.
questions on a periodic basis. Its members also have
the charge to feed questions and answers, and review
questions and answers, already in or submitted to
NACVA—1111
NACVA—1111Brickyard Road,
Brickyard Suite
Road, 200
Suite • Salt
200 Lake
• Salt City,
Lake Utah
City, 84106-5401
Utah • Tel:
84106-5401 (800)
• Tel: 677-2009
(800) 677-2009
2727
Recertification Committee (RC) Standards were issued to the membership for their
vote in November 2007, passed unanimously, and
Recertification is a periodic recertification require- became effective January 1, 2008. The Standards
ment for CVA and AVA designated members of the Committee’s role will be to continue providing clarifi-
Association. The Recertification Committee (RC) has cation/interpretation of areas requested by members
responsibility for periodically updating and improv- and/or as determined necessary by the Committee.
ing NACVA’s Quality Enhancement (QE) Question- This document entitled, “Frequently Asked Questions”
naire, which is one of the processes used by members (FAQs), is posted on NACVA’s website along with the
to fulfill the QE requirement. The Questionnaire is newly adopted Standards.
a fluid document that needs to be adapted to reflect
the current business valuation industry environment The SC’s ongoing role is to continue providing inter-
and applicable Standards. Another process for fulfill- pretations. The Committee should support the broad
ing NACVA’s QE requirement is participating in the use and acceptance of our Standards by pursuing
Case Analysis by Phone™ (or in person) (CAP) pro- bipartisan relationships with other standards-making
gram. Committee members must periodically review organizations. They also have the charge to stay
the Participant Procedures sent to participants two abreast of other industry standards, rules and require-
weeks prior to the CAP conference call, observe the ments, and practice aids that impact our members.
process and feedback from participants, and evaluate Accordingly, the Committee should be proactive in
the program’s effectiveness in achieving its goals. The influencing other organizations’ pronouncements for
Committee’s primary purpose is to assure the integrity the best interests of our members. Committee mem-
of the whole Recertification process, which includes bers field phone calls referred to them by HQ to ex-
our “Current Update in Valuations” (CUV) course and plain or interpret any words, sentences, or parts of our
CPE requirements in relevant subject matter, to make Standards. The Committee’s purpose is to promulgate
recommendations for improvement, and as deemed NACVA’s Standards throughout the business valua-
appropriate, make suggestions for alternate ways tion provider and user communities. This is achieved
of fulfilling Recertification without compromising by taking a proactive role in addressing issues in the
integrity. It is hoped that most Committee members business valuation community, providing interpreta-
will also participate as a reviewer on the QE Team. tions and rewrites as deemed necessary and prudent.
Reviewers are compensated for their services. The RC The SC reports to the Ethics Oversight Board (EOB),
reports to the Valuation Credentialing Board (VCB), and to the Executive Advisory Board (EAB).
and to HQ.
State Chapters Committee (SCC)
Standards Committee (SC)
The State Chapters Committee’s primary purpose is
In 2008, the Standards Committee updated NACVA’s to develop and build Chapters throughout the U.S.
Standards so as not to conflict with the AICPA’s new and strengthen relationships with State CPA Societies,
SSVS No. 1, effective January 1, 2008. Our Proposed Bar Associations, and other local professional groups.
28
The Committee supports these purposes by support- For a current list of the Association’s Board members,
ing Chapter Presidents with regular communications, please go to NACVA’s website at www.nacva.com.
providing ideas and agendas for local programs,
coordinating intrastate activities, facilitating commu- • Executive Advisory Board (EAB)
nications with other Chapter Presidents, identifying • Education Quality Assurance Board (EQAB)
NACVA members willing to pledge their support to • Ethics Oversight Board (EOB)
the SC President and the SC program, and offering • Litigation Forensics Board (LFB)
ideas and suggestions to NACVA Headquarters (HQ) • Valuation Credentialing Board (VCB)
to help us be more effective in our support of these
efforts. The Committee is also responsible for sug- Complaints
gesting ways to enhance, improve, build, and expand
NACVA’s public relations efforts. This includes ad-
vertising campaigns, joint conferences with affiliated Complaints of any nature about any aspect of
organizations, and identifying contacts and sources to NACVA’s operations should be directed to the
help build NACVA’s local and national prominence. applicable department’s Director. If the member is
The SCC reports to HQ. still unsatisfied with any resolve or response, he/she
should direct such complaint to the CEO. Complaints
regarding certification issues should be directed to the
applicable Chair of the Valuation Credentialing Board
Association Governance (VCB) or Litigation Forensics Board (LFB) for resolu-
tion. The VCB and LFB decisions in such matters are
The NACVA Boards consist of those individuals final.
elected by the membership or assigned by the Execu-
tive Advisory Board and designated the responsibility Policy on Discrimination
to oversee areas of activity deemed critical to the in-
tegrity and credibility of the Association. Particularly,
this includes membership qualification, quality of NACVA does not discriminate on the basis of age,
education, and certification criteria. Their purview in- gender, race, religion, national origin, disability, or
cludes the formation and recommendation of policy to marital status. This applies in our internal hiring
govern the Association’s affairs. In carrying out these practices, membership recruitment and in the con-
responsibilities, the Executive Advisory Board assists duct of the hundreds of individuals who represent this
and oversees the activities of all Boards. A Board Association in many capacities including: instructor,
member’s term as prescribed in NACVA’s Bylaws is Board/Committee member, grader, mentor, Support
for three years. Group or Team member, and anyone acting as an em-
issary on NACVA’s behalf, anywhere in the world.
2929
My membership affiliation with NACVA has
increased my professional endeavors in many
ways. The networking with other NACVA members
has proven to be an excellent benefit as I’m able to
speak directly with industry experts who provide useful
advice and counsel. The NACVA experience has been
an excellent one to say the least!
—Paul E. Zikmund, MAcc, MBA, CFE, CFFA
Draft
NACVAMembership
NACVA Membership Application
Application
Please complete the information below (Print or Type): Your name and address exactly as you wish it to appear in NACVA’s Credentialed Member Directory on our
website at www.nacva.com and on your Membership Certificate. To better serve you, NACVA requests a curriculum vitae and a business photo (head shot) be
submitted along with your application. This application is also available online at www.nacva.com.
Member Information: Date:

Name: Designations currently hold:
Name of Firm, Organization, or Agency:
Address: (include Mail Stop if applicable)
City: State: ZIP:
Tel: Fax: E-mail:
Position in Firm: (or Official title)
Areas of Expertise:
Shipping Address: (If different from address above)
Name of Firm, Organization, or Agency:
Address: (include Mail Stop if applicable)
City: State: ZIP:
Home Address: (Note: This address will not appear in any NACVA publication. It will be used by NACVA if you change your place of employment and we
are unable to obtain a forwarding address and phone number.)
Address:
City: State: ZIP:
Tel: Fax:
Professional Conduct:
1. Have you ever been convicted of any felony or any crime carrying a punishment (whether served or not) of more than one year in prison?
 Yes  No If Yes, please explain:
2. Have you been convicted of a misdemeanor involving moral turpitude (lying, cheating, stealing, or other dishonest conduct) or any substantially equivalent crime
in any court of law?  Yes  No If Yes, please explain:
3. Have you had any professional license, professional certification, or professional membership revoked, refused, or suspended (other than for non-payment of
dues)?  Yes  No If Yes, please explain:
I am a:  CPA Practitioner pursuing the CVA  Professional not pursuing a designation

 Practitioner pursuing the AVA or CFFA  Government Employee not pursuing a designation
 Government Employee pursuing the CVA, AVA or CFFA  Academician not pursuing a designation
 Academician pursuing the CVA, AVA or CFFA  Student full-time, not pursuing a designation
If applying for Associate Membership, you do not need to respond to the above question.
Check the Applicable Option: (Payable by Check or Credit Card)

 Practitioner Annual Membership Dues: $460*  Academician Annual Membership Dues: $215*
 Professional Annual Membership Dues: $215*  Associate Annual Membership Dues: $125*
 Government Employee Annual Membership Dues: $125*  Student Annual Membership Dues: $125*
* Annual dues are subject to change
Payment Method:
Check #: Charge to My:  AMEX  VISA  MasterCard  Discover  Diners Club
Credit Card Number: Expiration Date:
Credit Card Billing Address: ( check if same as stated above)
Signature of Applicant†: Date:
†
Your signature will authorize NACVA to confirm the above information via e-mail and/or fax, if necessary and authorize NACVA to use either medium for future communication. NACVA
will not disclose or share this information with third parties to secure confidentiality.
Applicant agrees to abide by the rules governing this Association and its members and agrees to hold NACVA harmless from any claims arising from or related to membership in NACVA.
Return Application & Applicable Dues by E-mail, Fax, Mail, or Contact NACVA for Information To:
NACVA—National Association of Certified Valuation Analysts
NACVA—National Association of Certified Valuation Analysts
1111 Brickyard Road • Suite 200 • Salt Lake City • Utah • 84106-5401
Tel: (801)Brickyard
NACVA—1111 486-0600 • Fax:
Road (801)
• Suite 200 •486-7500 • Internet:
Salt Lake City, www.nacva.com
Utah 84106-5401 • Tel: (800) 677-2009 • Page 27
We Establish, Build, Protect and Defend Value™
The National Association of Certified Valuation Analysts

1111 Brickyard Road • Suite 200 • Salt Lake City, UT 84106-5401
32 Tel: (801) 486-0600 • Fax: (801) 486-7500 • Internet: www.nacva.com
The Association • National Association of Certified Valuation Analysts

The Association

Diunggah oleh

Informasi Dokumen

Hak Cipta

Format Tersedia

Bagikan dokumen Ini

Bagikan atau Tanam Dokumen

Opsi Berbagi

Apakah menurut Anda dokumen ini bermanfaat?

Apakah konten ini tidak pantas?

Hak Cipta:

Format Tersedia

The Association

Diunggah oleh

Hak Cipta:

Format Tersedia

NACVA®

The National Association of Certified Valuation Analysts

Publication Date: November 20101

22 The Association • National Association of Certified Valuation Analysts

—Parnell Black, MBA, CPA, CVA

• Advancement, communication, and enforcement of standards of ethical and professional practice;

8 The Association • National Association of Certified Valuation Analysts

Policy on Confidentiality and Document

* Certification, Accreditation, Credential, Designation, and Appellation are used interchangeably.

Qualifications for AVA Certification

10 The Association • National Association of Certified Valuation Analysts

Qualifications for tive AVA designation, individuals must maintain cur-

Government Employed membership to lapse will lose their certification and

NACVA offers the AVA certification to government

Experience Alternative for

14 The Association • National Association of Certified Valuation Analysts

Certified Forensic Financial Analyst (CFFA)

Prerequisites a. Financial Litigation:

16 The Association • National Association of Certified Valuation Analysts

Retired Status Candidate Status

18 The Association • National Association of Certified Valuation Analysts

My membership and affiliation with NACVA has professionally

Boards and Committees

20 The Association • National Association of Certified Valuation Analysts

General Nomination/Election Rules

Board Member Restrictions

Purpose and Scope of the Boards

Education Quality Assurance Board (EQAB)

22 The Association • National Association of Certified Valuation Analysts

Executive Advisory Board (EAB)

Litigation Forensics Board (LFB)

Other Elements Pertaining to the Boards

Board Member Benefits Package

1. Membership dues are waived for each year served, plus,

24 The Association • National Association of Certified Valuation Analysts

NACVA’s Ambassadors Club

NACVA has been very instrumental in my development as a valuation

26 The Association • National Association of Certified Valuation Analysts

Member Information: Date:

I am a:  CPA Practitioner pursuing the CVA  Professional not pursuing a designation

Check the Applicable Option: (Payable by Check or Credit Card)

The National Association of Certified Valuation Analysts

Anda mungkin juga menyukai