In an effort to improve consistency, transparency, and quality in fair value measurements for financial reporting, the American Institute of CPAs (AICPA) co-developed the Certified in Entity and Intangible Valuations™ (CEIV™) credential. To qualify through the AICPA, CPAs and finance professionals must demonstrate their proficiency in both valuation and fair value measurement by:
- Amassing a minimum of 3,000 hours of fair value measurement experience. Experience must be attested to by a supervisor (or past supervisor if you changed employers). If a partner/supervisor is not available, peer attestation is acceptable. There are no exceptions to experience attestation.
- Passing a qualifying valuation exam. You must pass any of the following: Accredited in Business Valuation (ABV) exam, AICPA Valuation Principals exam, Accredited Senior Appraiser (ASA) BV 201-204 exams or challenge exam, Royal Institute of Chartered Surveyors (RICS) oral assessment, Chartered Financial Analyst (CFA) level III, or Chartered Business Valuator (CBV).
- Completing a rigorous fair value measurement curriculum. The AICPA has created an education program that can be purchased on its own or in a bundle along with the exam and additional courses, allowing you to individualize the program to your needs depending upon your pathway to the credential.
- Passing a two-part CEIV exam. The two-part CEIV examination is slated to launch early this year. You may complete this web-based exam on your personal computer and at your convenience.
- Becoming an AICPA member. If you’re not already a member, apply today.
To maintain the credential, CEIV designees must satisfy ongoing experience and education requirements, follow a performance framework, and participate in an annual, proactive quality monitoring program to provide confidence to markets and regulators that they are performing high-quality valuations in compliance with the newly developed performance requirements. Learn more!