Chief Operations Officer’s Report—Fourth Quarter 2022 | Non-Practicing CVA Status Announced
Non-Practicing CVA Status Announced
Through the years, NACVA HQ staff have learned from several Certified Valuation Analysts (CVAs) that their careers change focus after earning the CVA. Though their work shifted away from business valuation engagements, most still remain employed in the accounting and finance profession where value determination for businesses is relevant to their work. Up to now, CVAs making a career shift could only opt for inactive status or to cancel their credential and membership outright. Many regetted making this decision having invested significant time and resources to earn the CVA. There is now an option for CVAs experiencing a career change to retain their hard-earned CVA—Non-Practicing CVA Status. Non-Practicing CVA Status was approved by NACVA’s Valuation Credentialing and Executive Advisory boards, and is effective as of November 01, 2022.
Non-Practicing CVA Status | www.NACVA.com/NonPracticing
CVA designees, of any age, who are leaving the profession of business valuation can continue to display their CVA credential in business communications, including, but not limited to: letterhead, headers/footers, business cards, and/or his or her curriculum vitae, etc., so long as they include “(Non-Practicing)” or “(NP)” or “-NP” after their designation. When NP is used, it must be footnoted with an asterisk (*) (or similar) where it is noted “*Non-Practicing.” For example, CVA (Non-Practicing) or CVA (NP*) or CVA-NP*. To carry this privilege, the CVA must attest each year when they pay their required annual dues (on a form provided), that they no longer perform business valuation services for third-party users of the service and have no intent to do so in the next year. Those who elect Non-Practicing CVA status must maintain NACVA membership as a Professional member. Non-member CVAs cannot elect Non-Practicing CVA status; this status is only available to members.
All Non-Practicing CVA designees are required to comply with one component of recertification for which there are associated fees—taking, once every three years, the U.S. or international versions of either NACVA’s Current Update in Valuations (CUV) course and obtaining eight-hours CPE (via in-person, virtual, or self-study), or attending NACVA’s Around the Valuation World monthly webcast and obtaining 12 hours CPE, or alternatively, report or attest to 36 hours of applicable CPE.
A Non-Practicing designee may not market or provide business valuation services, nor may designee’s employer use designee’s name or credential in promoting business valuation services unless the CVA credential is followed by “Non-Practicing”, “NP*”, or “-NP*” if this is a service employer provides. If it is found that such designee violated these requirements, without first fully reinstating their CVA designation, their membership will be immediately terminated and their CVA privileges revoked. In all cases, the Non-Practicing designee must follow NACVA’s Professional Standards in the performance of valuation work on his or her own behalf or where his/her employer is the direct beneficiary of such work. In all areas of work, it is required that the designee adheres to NACVA’s General and Ethical Standards, a part of the Professional Standards, to assure that the designee upholds the high standards of professional conduct the Association expects of its members and designees.
Non-Practicing CVA designees who wish to reinstate their designation to full practicing status, must reactivate their credentialed status following the same procedures as required for designees who have been on Inactive Status. Special requirements may be subsequently imposed, or modified as the case may be, by NACVA’s Valuation Credentialing Board (VCB) on members who elect Non-Practicing CVA status.
Reinstating Your Credential to Non-Practicing CVA Status
CVAs who have dropped membership and/or their CVA designation, intentionally or due to non-payment of dues/fees, who desire to reinstate their status as a Non-Practicing CVA, may do so by paying a reinstatement fee and one-year Professional Membership dues, and attending NACVA’s recommended course, Current Update in Valuations (CUV) (eight-hours CPE). Note: Upon reinstatement, the Non-Practicing CVA will receive a new Non-Practicing CVA certificate dated the date of issue.
