Chief Operations Officer’s Report—Fourth Quarter 2022 | Become a Champion for the Next Generation of CVAs
Become a Champion for the Next Generation of CVAs
“The National Association of Certified Valuators and Analysts (NACVA) has more credentialed appraiser members than both the AICPA and American Society of Appraisers (ASA) combined.” – BVWire | Issue#238-2 | July 20, 2022
Growth in candidates applying for, pursuing, and earning the Certified Valuation Analyst (CVA) and Master Analyst in Financial Forensics (MAFF) credentials is exciting for the organization and the profession.
There are opportunities for seasoned valuators to support the next generation of CVAs through mentoring, coaching, and by supporting the grading of CVA candidate case study (experience requirement) reports.
Coaches for CVA Candidates
The greatest challenge to successfully meeting all the criteria required to earn the CVA credential is completing the Case Study. This process requires the Candidate to perform a business valuation based on a sample Case Study provided by NACVA*. It is a lot of work, and if this is the first business valuation you have performed, it can feel daunting at times. The challenge in completing the valuation report is getting over the many hurdles and decisions the Candidate will confront throughout the valuation process and drafting the report.
Join the team of Coaches for CVA Candidates.
- The Coach’s responsibility is to provide professional assistance to help the Candidate demonstrate and achieve the level of competency demanded to complete every step of the Case Study.
- Coaches are assigned to Candidates as soon as the Candidate has been issued the sample Case Study.
- After personal introductions, it is the Coach’s responsibility to contact the Candidate over the 60 days allotted to complete the Case Study to see how he/she can help the Candidate with the report.
- Just as importantly, this contact is to remind the Candidate that the Coach is there to support them and provide some inspiration, if needed, to move forward with the Case Study.
- Certainly, the Candidate can (and should) reach out to the Coach anytime (or at times agreed to between the parties) to ask questions, get ideas/suggestions and advice, have a process or methodology explained, review a section of the Candidate’s report, or obtain whatever assistance is needed.
Only seasoned veterans in the valuation profession can qualify to be a CVA Candidate Coach. Compensation and other benefits are extended Coaches.
- Learn more and apply at http://www.practicesupporthq.com/mentor-coaches
CVA Exam and Grading Committee/Team
The CVA Exam and Grading Committee/Team is a group open to NACVA members who are credentialed by NACVA with five or more years’ experience providing business valuation services. They, along with HQ, have the responsibility for reviewing and grading the business valuation Case Studies or demonstration reports submitted to HQ for peer review and assessing if candidates meet NACVA’s Experience Threshold prior to NACVA awarding its CVA designation.
HQ administers the entire process and, when needed, qualified staff at HQ will also grade reports. The purpose of the EGCT is to maintain the integrity of grading for the peer review process and provide input to HQ and the VCB on ways to improve, modify, strengthen, streamline, validate, and monitor the process. The EGCT’s scope expands to include making recommendations on grading procedures, answer keys, and the quality of questions on a periodic basis. Its members also have the charge to help contribute and/or review questions and answers in NACVA’s Q&A database and assess exam content for proportional balance in addressing topics as provided for in NACVA’s Business Valuation Body of Knowledge. The Committee’s fundamental purpose is to provide added assurance our examination and grading processes are of the highest integrity. EGCT members receive a fee for their Case Study grading services. The EGCT reports to NACVA’s Valuation Credentialing Board and HQ. Compensation and other benefits are extended Coaches.