First announced in 2017 (see our coverage
), the American Institute of CPAs has launched its new credential, the Certified in the Valuation of Financial Instruments (CVFI), with an accompanying performance framework. This new credential is not just for CPAs but for any valuation professional who performs fair value measurements of financial instruments for financial reporting purposes, according to a news release
. To obtain the credential, qualified candidates must meet education requirements covering the CVFI Body of Knowledge, an exam based on the Financial Instruments Performance Framework and the Body of Knowledge, and more than 3,000 hours of experience related to fair value estimates for financial instruments in the five years preceding the application. The CVFI can be considered a companion of sorts to the Certified in Entity and Intangible Valuations (CEIV), which was developed jointly by the AICPA, ASA, and RICS. But, unlike the CEIV, this new credential was not developed in collaboration with other valuation professional organizations (VPOs). For more information, the AICPA has a special CVFI webpage
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