Timetable for rollout of new fair value credential

Over 1,100 attendees at the AICPA Forensic and Valuation Services Conference 2015 in Las Vegas heard some outstanding speakers and topics. BVWire provides some key takeaways from the event. AICPA senior technical manager Eva Simpson gave an update of the new credentials to be issued for fair value. The new credential for fair value related to business and intangibles will roll out in spring 2016, and the new credential for financial instruments will launch in fall 2016. A draft of the mandatory performance framework will be issued for exposure in early 2016. The AICPA, ASA, and RICS will issue this new credential under a common framework, but the individual will be bound by the issuing group’s professional and ethics standards. It is unclear whether the new credential will be a new set of letters or some special mark added to a person’s existing BV credential, such as an asterisk or other symbol.