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CFFA Credential Criteria
The Certified Forensic Financial Analyst (CFFA) credential is offered
through a subsidiary of NACVA, the Financial Forensics Institute. It is
designed to provide assurance to the legal and business communities—the
primary users of financial forensics services—that the designee possesses
a level of experience and knowledge deemed acceptable by the Association
to provide competent and professional financial forensic support services.
Applicants can train in one of five areas of specialty, any of which lead
to earning one’s CFFA credential. Those areas are: financial litigation,
forensic accounting, business fraud—deterrence, detection and
investigation, business and intellectual property damages, and matrimonial
litigation support. Earning the credential requires consideration of all
of the person’s qualifications and commitment to the discipline; this
includes prior education and experience, prerequisite and required
training as provided (or recommended) by NACVA, testing, and
post-requisite requirements for recertification.
The CFFA program encompasses all the components for supporting and
upholding a credential with innate value for the holder and the user
community—to be respected, not because it is the first of its kind, but
because it is substantial in all regards. It is a credential to help
practitioners build a career in their chosen financial forensics field,
plus give them the
foundation needed to deal with the attendant legal or corporate board
level support that often enters into engagements or tasks performed within
these specialty fields. The specific criteria for obtaining the credential
are:
Prerequisites
1. The applicant must possess one of the following credentials or levels
of education:
CVA (Certified Valuation Analyst),
AVA (Accredited Valuation Analyst),
ABV (Accredited in Business Valuation),
ASA (Accredited Senior Appraiser),
AM (Accredited Member of the ASA),
CBA (Certified Business Appraiser),
CBV (Chartered Business Valuator),
CFA (Chartered Financial Analyst),
CFE (Certified Fraud Examiner),
CMA (Certified Management Accountant),
Cr.FA (Certified Forensic Accountant),
CPA (Certified Public Accountant),
CA (Chartered Accountant), or other recognized accounting or financial
credential subject to NACVA Headquarters approval, and a bachelor’s degree
in a business field from an accredited university/college, or,
alternatively, a master’s or doctorate in a field of business.
2. Applicants must show proof of having provided services in the
applicable field in which they wish to specialize. These are:
a. Financial Litigation:
• Must have been involved in eight different litigation matters, three
of which the applicant gave
deposition and/or expert testimony. (This experience requirement can
be met by attending the three-day
NACVA-sponsored course entitled, “Expert Witness Bootcamp.”) b. Forensic Accounting, and Business Fraud—Deterrence, Detection and
Investigation:
• Must have been involved in ten engagements or have 1000 hours experience in the applicable field. c. Business and Intellectual Property Damages, and Matrimonial
Litigation Support: • Must have been involved in 10 engagements in the applicable field,
or have had 1000 hours experience
providing valuation services, 200 hours of which were in the
applicable field.
a. The Financial Litigation program
• Must attend a five-day training program offered by NACVA entitled
“Litigation Bootcamp for Financial
Experts,” designed to provide participants a solid foundation in the
role of a financial expert. b. Forensic Accounting,
c. Business Fraud—Deterrence, Detection and Investigation,
d. Business and Intellectual Property Damages, and
e. Matrimonial Litigation Support
• Must attend a five-day Workshop, in the chosen specialty, plus a
three-day financial forensics workshop
entitled, “Forensics Workshop for Financial Professionals.”
(Exceptions from this training requirement
for all five areas of focus will be given based on experience—see
Experience Waiver, below.) 4. The applicant must pass a two-part exam; one for the specialty area
he/she is pursuing, and one to demonstrate a
command of financial forensics. Both are four-hour proctored exams
given at the end of the applicable course.
5. The applicant must submit one business and two professional
(attorneys, judges, CPAs, etc.) references who can
substantiate the applicant’s professional stature in the community and
quality work product.
6. The applicant must be a Practitioner member of NACVA; to maintain
the credential one must maintain active
status with the Association, which requires paying annual dues and
complying with periodic recertification. Back to Top
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