CVA Candidate Status
Designation applicant: Person who is seeking to attain the CVA designation, but has not completed all of the requirements or finalized the process of attaining the designation.
CVA applicants who lack the necessary Experience Requirement (see paragraph 3), but have passed NACVA’s proctored certification exam and have demonstrated that they meet NACVA’s Experience Threshold (see paragraph 4), can use the designation; however, the designation applicant must display the qualification “Candidate” after the designation, i.e., CVA Candidate. The designation candidate has up to three years to fulfill the applicable Experience Requirement and attest to such evidence, at which time the qualification of “Candidate” will no longer be required to be displayed with the designation. If such evidence is not produced within three years, the designation applicant will lose the right to use the designation altogether. Candidates must comply with NACVA's recertification requirements.
- Experience Requirement for Designation:
a) Experience Requirement for a “CPA-CVA Candidate”: Applicant must have the legal right to display “CPA” after their name. A CPA-CVA applicant lacks the Experience Requirement if he or she has either: (i) passed the CPA exam, but is lacking the Experience Requirement as identified by his or her state, which prevents the applicant from obtaining the CPA license and displaying “CPA” after his or her name; or (ii) who has a suspended or lapsed CPA license. Candidates must comply with NACVA’s recertification requirements.
b) Experience Requirement for a Non-CPA-CVA Candidate: Applicant must have met the substantial experience requirement, as defined in the qualifications for Non-CPA candidates (see CVA quailifications). Candidates must comply with NACVA’s recertification requirements.
Experience Threshold: CVA applicants are required to demonstrate that they meet NACVA’s Experience Threshold by completing a sample Case Study or submitting an actual and sanitized Fair Market Value (FMV) valuation report (as defined by Revenue Ruling 59-60) prepared in the last 12 months. The report submitted is reviewed and graded pass/fail, and candidates with a passing grade will receive notification from NACVA that the demonstration report meets the Experience Threshold standard.
- Individuals may maintain Candidate status for up to three years. In exceptional circumstances, an appeal of the three-year time limit may be filed for consideration. See the “Denial of Qualifications” policy for details.