Leading CPA/ABVs are asking that you give your opinion on the recent decision by the American Institute of Certified Public Accountants (AICPA) to allow non-CPAs to be eligible for the Accredited in Business Valuation (ABV) credential (see prior coverage). They have set up a short survey, and you can take it if you click here.

Reactions so far: “I am stunned.” “It’s a travesty.” “A terrible mistake.” The vast majority of the comments we received at this point agree with the signers of the Open Letter that criticizes the AICPA’s decision. And not all commenters are CPA/ABVs—some are CPAs with other business valuation credentials who are seriously concerned on behalf of all of their colleagues. However, some commenters feel that being a CPA may not always be the best prerequisite for being a competent business appraiser—that financial pros may have a better foundation than accounting/tax professionals.

A discussion on this matter has been set up on BVR’s LinkedIn page.

Extra: A serious matter in the Open Letter is that it states that the AICPA did not properly vet this issue with members, who—along with some ABV committee members—were surprised by the AICPA’s decision. Stay tuned for more on this.