The Quality Monitoring (QM) program for the Certified in Entity and Intangible Valuations (CEIV) credential has been finalized. The QM program was the last major issue to be ironed out for this credential, which is designed for professionals performing fair value measurements for corporate entities and intangible assets.
Lingering logjam: The AICPA, ASA, and RICS began their collaborative effort to develop the credential in 2014, and it was launched in 2017. Since then, about 150 professionals have received the credential, but many more are in the pipeline. The Big Four, as well as some smaller firms, embraced the program but stopped short of credentialing their people pending the finalization of the QM program. Firms had several concerns about the process, most importantly the confidentiality of client information, which is addressed in the finalized program.
The QM program is a proactive process that is a combination of ongoing credential maintenance requirements and the completion of an annual Quality Compliance Assessment. The annual assessment will evaluate the credential holder’s implementation of the Mandatory Performance Framework and determine whether it is being properly followed. The QM program officially begins on Jan. 1, 2020, and credential holders will be required to submit their first Quality Compliance Assessment in 2021.
A special website, ceiv-credential.org, has more details on the credential and its requirements.
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