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Qualifications for the MAFF


Master Analyst in Financial Forensics® (MAFF®)
 
The MAFF credential is designed to provide assurance to the legal and business communities—the primary users of financial litigation services—that the designee possesses a level of experience and knowledge deemed acceptable by the Association to provide competent and professional financial litigation support services. To earn the MAFF credential, candidates must attest to having met certain prerequisites and Experience Requirement, plus pass a five-hour proctored exam that tests to NACVA's Financial Forensics Body of Knowledge (FFBOK). To prepare for the exam, NACVA sponsors and recommends a five-day course entitled, Foundations of Financial Forensics Workshop. To support our MAFF designees and the entire financial forensics discipline, NACVA offers intermediate to advanced training in eight areas of specialized focus (specialty areas). Those areas are:
 
  1. Commercial Damages and Lost Profits;
  2. Matrimonial Litigation;
  3. Bankruptcy, Insolvency, and Restructuring;
  4. Business Valuation in Litigation;
  5. Business and Intellectual Property Damages;
  6. Personal Injury and Wrongful Death;
  7. Forensic Accounting; and
  8. Fraud Risk Management.
Earning the credential requires consideration of all of the person’s qualifications and commitment to the discipline; this includes prior education and experience, testing, and post-requisite requirements for recertification.

The MAFF 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 was the first of its kind, but because it is substantial in all regards. It is a credential to help practitioners build a career in the financial litigation/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 the field.

Note: financial forensics and financial litigation are used interchangeably.

MAFF Requirements

The specific criteria for obtaining the MAFF credential are:

1. Prerequisite: Basic Experience
The applicant must possess one of the following credentials or levels of education:
CVA—Certified Valuation Analyst,
ABAR—Accredited in Business Appraisal Review,
ABV—Accredited in Business Valuation,
ASA—Accredited Senior Appraiser,
AM—Accredited Member of the ASA,
CBA—Certified Business Appraiser,
CBV—Chartered Business Valuator,
CDFA—Certified Divorce Financial Analyst,
CFA—Chartered Financial Analyst,
CFE—Certified Fraud Examiner,
CFF—Certified in Financial Forensics,
CIRA—Certified Insolvency & Restructuring Advisor,
CMA—Certified Management Accountant,
CM&AA—Certified Merger & Acquisition Advisor,
Cr.FA—Certified Forensic Accountant,
CPA—Certified Public Accountant,
CA—Chartered Accountant,
MCBA—Master Certified Business Appraiser,
or other recognized accounting or financial credentials subject to NACVA HQ approval, and a bachelor degree in a business field from an accredited university/college or, alternatively, a master degree or doctorate in a field of business.

Applicants must show proof of having provided services in 10 matters in the financial forensics field or, alternatively, 1,000 hours in business valuation services, of which 200 hours are in one or more of the eight specialty areas, as defined above.

2. Prerequisite: Foundational Experience
Applicants must show proof of having been involved in 20 matters in the financial forensics field or, alternatively, 2,500 hours in business valuation services, of which 1,500 hours are in one or more of the eight specialty areas.

If this experience requirement cannot be met, a candidate can meet this requirement by attending the NACVA-endorsed training program entitled:
  • Foundations of Financial Forensics Workshop—Five days or Online (teaches to the FFBOK) 
3. Examination
The test to qualify for the MAFF is drawn from the FFBOK, which NACVA’s Foundations of Financial Forensics Workshop teaches to and addresses a broad range of concepts applicable to the field.

The applicant must pass a proctored exam which is five hours in length, comprised of multiple-choice questions, and is typically administered at most NACVA-sponsored training events. It is also available at testing centers nationwide.

4. References
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.

5. Membership
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.
 
Master Analyst in Financial Forensics (MAFF) Designation Application

Matters
Matters is defined as follows: An engagement in one of the eight specialty areas for which the expert rendered a significant amount of professional services and served as a lead professional (a significant amount of services will typically require a minimum of 40 hours of the candidate’s time and the issuance of a report), or

A legal dispute (usually involving the filing of a lawsuit) for which the expert served as a lead professional in the rendering of a significant amount of professional services in the field.


AAFFA

NACVA is pleased to have affiliation with the African Association of Financial Forensics Analysts: For more details please visit: http://www.aaffa.co.zw/