AICPA Council nixes request to suspend ABV change

BVWireIssue #193-4
October 24, 2018

business valuation accrediting organizations
AICPA, business valuation profession, valuation certification

At a meeting of the AICPA’s governing Council, members voted in favor of continuing to implement an earlier decision to expand eligibility for the Accredited in Business Valuation (ABV) credential to non-CPAs, according to a report in the Journal of Accountancy. A number of prominent CPA/ABVs attended the meeting to persuade the Council to take action that addresses their concerns and criticisms (spelled out in an Open Letter to the AICPA). Critics wanted 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. Following a panel discussion that included participants both in favor of and against the change, Council members voted against suspending the decision and re-examining the issue. This clears the way for other qualified professionals who are not CPAs to be allowed to qualify for the ABV credential.
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