- Association News
- Past Issues
- CEO's Message—Second Quarter 2019
- Annual Conference in Review—Second Quarter 2019
- Honoring Our Members—Second Quarter 2019
- State Chapter News—Second Quarter 2019
- Value of Professional Standards and Ethical Behavior—Second Quarter 2019
- Call for Article Opportunities—Second Quarter 2019
- Outstanding Member—Second Quarter 2019
- Newly Credentialed Members—Second Quarter 2019
- The Value Examiner
- Journal of Forensic and Investigative Accounting
- Around the Valuation World®
- Call for Authors
2018 Year in Review—Fourth Quarter 2018
2018: The Year in Review
Brien K. Jones
Chief Operations Officer and Executive Vice President
Certificate of Educational Achievement (CEA) Launched for Business Valuation Fundamentals and Transaction Advisory Services
A Certificate of Educational Achievement (CEA) is now awarded to attendees who successfully complete and pass short quizzes administered at the conclusion of the following programs:
- Understanding Business Valuations for CPAs/Financial Advisors
- Transaction Advisory Services Workshop
CEAs are a valuable recognition of educational achievement that can enhance your professional development, however there is no professional or other credential associated with the certificate, and certificate holders may not claim to be certified, licensed, accredited, or registered to engage in a specific occupation or profession. The short quizzes are based on the educational content and learning objectives of the course.
“The NACVA/CTI Online Campus, made its successful debut through the release of our new CEA programs for Understanding BV for CPAs/Financial Advisors and the Transaction Advisory Services Workshop. This is only the beginning of what the NACVA/CTI Online Campus will provide to students, bringing quality education available at your fingertips for both live and self-study programs,” states Diana Ridgeway, NACVA/CTI’s Director of Educational Achievement. “CEAs will be available in 2019 for each of our Financial Litigation Specialty Webinars,” Ridgeway continues.
Record Breaking Attendance to Live/Online Broadcasts
There was record breaking attendance in 2018 for the live/online broadcasts for both the CVA and MAFF credentialing programs. Following suit, live/online attendance trended higher than live/in-person attendance for Current Update in Valuations, Intermediate Business Valuation Training Center, Report Writing: Review and Analysis, Discounts for Lack of Marketability Workshop, and the Building a Thriving Business Consulting Practice—The CoreValue® Bootcamp.
Similarly, live/online attendance was noticeably high for the 2018 Annual Consultants’ Conference held in June in Las Vegas, NV and the Financial Valuation Conference held in December in Fort Lauderdale.
“We recognize that live/online courses are trending, not only for institutions of higher learning, but also for professional associations. We have taken great strides over the past years to transition from a model based on traditional in-person training only, to a blended live/online-live/in-person model without compromising the highest quality continuing professional education NACVA/CTI is known for,” states Brett Losee, NACVA’s Director of Events. “2019 will see an increased schedule for live/online learning,” Losee continues.
Five Years of 40 Under Forty
With the 2018 honorees, NACVA boasts five years of “giving voice and opportunity to the next generation of industry mavericks” for the business valuation and financial litigation profession. Since 2014, NACVA has identified an exceptional group of up-and-comers who have been elected to a NACVA Governance Board, or have become a member of our esteemed faculty, or have become a subject matter expert presenting at a conference event or online training, or who have supported various committees, task forces, and initiatives.
Distinguishing NACVA from other professional valuation organizations are the great strides we take to create community, and not clichés, and cultivating leaders. This serves two primary purposes: first, Association involvement is a way to help members build their reputations and credibility; second, NACVA’s founders realized that supporting an industry was bigger than they were, and the best way to rise to the challenge was to find and facilitate ways for members to help each other. Congratulations to the 40 Under Forty honorees in 2014, 2015, 2016, 2017, and 2018. Nominate an up-and-comer today for 2019 honorees!
NACVA Mobile App and LinkedIn Company Page Launched to Centralize NACVA Resources
The NACVA Nation mobile app was launched in June 2018 to provide an alternative to e-mail communication.
Up-to-the-minute news, announcements, publications, CPE On-Demand, and training/conference materials are provided through posts and alerts.
Go to https://www.nacva.com/mobileapp today to download the app!
LinkedIn has become a vital source for professional networking and resources. To provide yet another alternative to e-mail communication, the NACVA Company Page on LinkedIn provides timely technical news articles and blog posts, member activity and special announcements, polls, surveys, and from time to time, LinkedIn Only promotions.
Go to https://linkedin/company/NACVA and start following us today!
University CVA Credentialing Program Expands to Incorporate Business Valuation Career Days
NACVA offersturnkey business valuation training and a Certified Valuation Analyst (CVA) credentialing program for students enrolled in accounting, finance, economics, or Masters in Business Administration programs at colleges and universities. The program is drawn from and is consistent with the qualifications to earn the CVA and the Core Body of Knowledge for Business Valuations taught in the Business Valuation Certification and Training Center. Nearly twenty colleges and universities in the U.S. are supporting this program.
The next phase—Business Valuation Career Days—was launched this year where students can interact with CVA members and State Chapter leaders to learn about the business valuation professional landscape, high demand industries requiring business valuations, why companies and business owners need a business valuation, career opportunities with accounting/CPA or boutique firms, but also the unmatched credibility of the globally recognized CVA being the only accredited business valuation credential that can give them a competitive career edge. Contact us if you are interested to support CVA training at your college/university alma mater.
NACVA’s European Chapter Solidifies International Leadership and Influence
Established in 2004, the European Association of Certified Valuators and Analysts (EACVA) hasnearly 500 active CVAs and is one of several international chapters supported by NACVA Headquarters (HQ). International chapters comply with the qualifications to earn the CVA, the Core Body of Knowledge for Business Valuations, and NACVA recertification.
In July 2018, EACVA was appointed a member of the International Valuation Standards Council (IVSC) as a Valuation Professional Organization. As a member of the IVSC, and in coordination with NACVA’s Standards Board, EACVA will work internationally to ensure that the application of global standards increases the reliability and transparency of company valuations.
EACVA leadership also supported NACVA’s Standards Board to expand the North American Professional Standards Comparison Chart to the International Business Valuation/Appraisal Standards Comparison Chart adding a comparison of business valuation standards promulgated by the IVSC, Royal Institution of Chartered Surveyors (RICS), and Canadian Institute of Chartered Business Valuators (CICBV).
In November 2018, EACVA hosted its 12th Annual Conference for Valuation Professionals inDüsseldorf, Germany achieving record breaking attendance with nearly 400 valuation professionals attending.
Around the Valuation World® Monthly Webcasts Become Newest Exclusive Member Benefit
Previously a subscription only program, viewing the Around the Valuation World monthly webcasts became an exclusive NACVA member benefit in June 2018. Annual subscription options are available to earn up to 24 hours of CPE plus NACVA Recertification Bonus Points.
Around the Valuation World webcasts deliver the latest updates, news, and trends occurring in the rapidly evolving business valuation and financial litigation profession. Industry correspondents deliver an online, interactive webcast so that at all times, you can be confident that your knowledge is current and accurate as you navigate “Around the Valuation World!”
To take advantage of this exclusive member benefit and to view the monthly webcasts:
- Log into your account at NACVA.com.
- Click “My Account” after you have logged in.
- Scroll down the left-hand column and click Around the Valuation World.
Master Analyst in Financial Forensics (MAFF) Credentialing Program Picks Up Steam
Candidates applying for and achieving MAFF certification was quite robust in 2018. To support this growth and to reflect the current state of financial litigation and related areas of specialty, NACVA’s Litigation Forensics Board and Executive Advisory Board approved an update to the MAFF Body of Knowledge. The updates are being applied to the MAFF training program and credentialing exam.
“When questioned about a credential, the ability to reference a Body of Knowledge, along with a Proctored Exam, are critical factors in being accepted as an expert,” states T.J. Liles-Tims, CVA, CFE, MAFF, lead course developer and faculty for the MAFF training program.
“Through the continued collaboration, tireless efforts and contributions of our Litigation Forensics Board and leaders in the various specialty areas, we have been able to produce an extensively updated Body of Knowledge. The new body of knowledge builds upon the core of financial forensics and incorporates the fundamentals of its specialty disciplines,” states Michael Kaplan, CPA, ABV, CFF, CVA, MAFF, who was the lead architect designing the certification.
The MAFF certification makes the statement that when it comes to financial litigation, you are the “Master” of the field.
Pam Bailey, NACVA’s Executive Director Retires.
New Executive Director Announced.
“How do you say good-bye after 23 years…you don’t, you simply say, “See you later,” states Pam Bailey in her retirement announcement to the membership. Bailey retired on July 31, 2018.
Pam pioneered many aspects of NACVA with great passion, pride, and the highest levels of customer service and quality. She was instrumental in founding the operations and policies for Board and Committee governance, and State Chapters. She standardized member communications, processes for publishing, credentialing, and recertification, as well as championing and overseeing HQ internal policies and procedures.
In the early years of her tenure, she set the bar for the organization and management of onsite meetings and educational programs, and shepherded NACVA’s initial compliance and licensing with the National Association of State Boards of Accountancy (NASBA)and National Commission for Certifying Agencies (NCCA).
“Pam touched and influenced nearly every aspect of our now global organization. As she exits NACVA and moves into a much more exciting role—her retirement—her heartfelt dedication and commitment to the organization, HQ staff, and members leaves a long-lasting legacy,” states Brien K. Jones, NACVA’s Chief Operations Officer and Executive Vice President. “NACVA would not be the thriving and successful organization it is today without her dedication to the organization, members, and staff,” he continues.
“Pam and I were a team for many years. She made my job easier and unquestionably helped me get NACVA off the ground and on solid footing back when the only alternative was failure—and failure was not an option,” states Parnell Black, MBA, CPA, CVA, NACVA’s Co-Founder and Chief Executive Officer.“She has played a vital role, participating in all the key decisions made over the years, and endearing herself to hundreds of members, many of whom came to call her a friend, like me,” he continues.
Pam closed her retirement announcement by stating, “It has been my great honor and privilege to have served you the past 23 years and to have watched your careers flourish and grow. Your success is my success. Your victories are my victories. Your triumphs are my triumphs. Thank you, thank you, thank you. Until we meet again. Me Ke Aloha, Pumehana.”
“We must move on and have replaced Pam with Jonathan Jackson who is highly qualified to be part of the NACVA HQ leadership team that will carry this organization well into the future,” states Black in his announcement to the membership. Jackson started his tenure with NACVA on July 30, 2018.
He recently served as the Chief Operating Officer for the Utah Technology Council where he developed and executed strategies to grow the organization and boost revenue solidifying Utah’s growing technology industry. Prior to the UT Technology Council, he had an impressive career with the U.S. Chamber of Commerce, the world's largest business advocacy association representing the interests of more than three million businesses. He held positions as the Special Assistant to the President and CEO for the SBA Institute for 21st Century Energy, Manager of Corporate Relations, and Senior Director. Before the U.S. Chamber, he was a Special Assistant to the Chief of Staff in the George W. Bush Administration for the U.S. Department of Labor. Jackson holds a B.S. in Economics, Magna Cum Laude from Utah State University and an MBA from Brigham Young University.
“Jonathan brings to NACVA a wide range of skills and experience, including deep knowledge in technology, maneuvering through legislative channels, insight into the interests of small privately-owned business, strategic thinking and planning,” states Black. “His experience is a perfect fit for our organization.”
National Commission for Certifying Agencies/Institute for Credentialing Excellence
Re-accredits the Certified Valuation Analyst (CVA)
In May 2018, the CVA received re-accreditation from the National Commission for Certifying Agencies (NCCA).NCCA is the accrediting body of the Institute for Credentialing Excellence (ICE). Their mission is to help ensure the health, welfare, and safety of the public through the accreditation of a variety of certification programs/organizations that assess professional competence.
The CVA credential will have received 15 years of accreditation from this prestigious body, an accolade no other business valuation redential can boast, and something that defines a key distinction between the CVA and the Accredited in Business Valuation (ABV ®), Accredited Senior Appraiser (ASA), and Certified in Entity and Intangible Valuations™ (CEIV™) Transparency underscores the whole process.
NCCA’s rigorous standards address every aspect of an organization’s policies, procedures, systems, controls, and processes centering around the examination, but run the gamut of operations.
It all starts with a psychometrically developed and validated body of knowledge, exam, and grading process, and expands to address every detail of operations from security measures, to pass/fail written communications, to marketing materials, to public notices, to job descriptions.
“NCCA accreditation proves to the world the CVA credential meets the highest standards on the globe for integrity, objectivity, quality, and complies with a world-wide recognized set of standards. We have obtained this accreditation for all the same reasons our CVAs have obtained the CVA,”states Parnell Black, MBA, CPA, CVA, NACVA’s Co-Founder and Chief Executive Officer.“Your CVA is a statement to the world that you have proven to an independent body that you meet a certain level of expertise, are qualified to provide a specialized service, and comply with industry recognized standards in the performance of your work. Given this, does it not make sense for you to expect the organization accrediting you to also be accredited?”
2019—The Year Ahead
Nominations open for NACVA’s Governance Boards. Get involved in the most dynamic professional association in the business valuation and financial litigation profession.
Reclaim Your CVA
Are you an ABV that once held the CVA?
Plan to reclaim the most widely recognized and global business valuation credential.
Contact NACVA's Member/Client Services Department at (800) 677-2009 to learn how.
June 6–8, 2019 | Salt Lake City, UT
2019 Annual Consultants’ Conference
Spring in Salt Lake City. Attend the first major conference in the profession in NACVA’s stunning mountain hometown.
December 10–12, 2019 | Fort Lauderdale, FL
5th Annual Financial Valuation SuperConference
Earn year-end CPE on the shores of the Atlantic Ocean.