The AICPA’s decision to open up the ABV credential to non-CPAs has received nearly unanimous criticism from the ABV community. BVWire has learned that the matter will be discussed at the upcoming meeting of the AICPA Council (the organization’s governing body) October 21 to 23 in Amelia Island, Fla. A number of prominent CPA/ABVs will be attending the meeting to persuade the Council to take action that addresses their concerns and criticisms (spelled out in an Open Letter to the AICPA).

What to do: CPA/ABVs are being asked to contact their state Council representatives and apprise them of the issue and to give them their opinion before they attend the meeting later this month. The CPA/ABVs who will attend the meeting will ask the Council to: (1) suspend the change to the ABV criteria; (2) consider input from stakeholders and have the Council revote; and (3) if the AICPA still wants to issue a valuation credential to non-CPAs, a second credential should be created separate from the ABV.