Another state CPA society weighs in on ABV controversy

BVWireIssue #191-5
August 29, 2018

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

The Massachusetts Society of CPAs (MSCPA) has sent a letter to the AICPA that echoes the suggestion of others to hold off on the decision to open up the ABV credential to non-CPAs. The letter suggests that the decision-making process should be reviewed and a report submitted to the AICPA Council, its governing body. The process has come under intense criticism over its lack of transparency and failure to consider the input of stakeholders. The MSCPA letter also urges the AICPA to “use caution when offering historical CPA credentials to non-CPAs,” pointing out that part of the mission of the AICPA is to preserve credential value.

The New York State Society of CPAs and the California Society of CPAs have also sent similar letters to the AICPA (see our previous coverage).

Extra: The ABV controversy has hit the mainstream media—see this article in the Wall Street Journal. Also, AccountingToday has an article.

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