Non-Practicing Status for CVA Credential Holders
CVA designees of any age who are leaving the profession of business valuation, but consider that they may return†, can continue to display their CVA credential in business communications, including, but not limited to letterhead, headers/footers, business cards, and/or his/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 as “*Non-Practicing.” For example, CVA (Non-Practicing), 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), 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 either as a Professional member ($299 annually) with full Association benefits or as an Associate member ($79 annually) with no benefits other than the right to display the credential notated as indicated above. Non-member CVAs cannot elect Non-Practicing CVA status; this status is only available to members.
Non-Practicing CVA designees, whether U.S. or international, are required to comply with one component of recertification (the same as Emeritus). See below. They are also required to pay a $200 tri-annual recertification fee, which can be waived. (See Exceptions† below)
Take a combination of NACVA courses (in-person, live virtual, on-demand, or self-study) and earn 15 hours of CPE or more. By doing so, 100% of the tri-annual recertification fee is waived.
OR attest to 36 hours of Applicable CPE. If one is an active and licensed CPA in their state and has remained so since electing Non-Practicing status, they merely need to attest to such because CPAs nationwide are required to obtain at least 36 hours of CPE every three years, which qualifies as applicable CPE under NACVA’s recertification requirements. The tri-annual recertification fee will be assessed, and other fees may apply.
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Limitations
A Non-Practicing designee may not market or provide business valuation services, nor may the designee’s employer use the 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 areas of work, the Non-Practicing designee must follow NACVA’s Professional Standards; specifically, 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.
Reinstating Full Practicing
Non-Practicing CVA designees who wish to reinstate their designation to full practicing status must reactivate their credential status following the same procedures as required for designees who have been on Inactive Status. Special requirements may be subsequently imposed, or modified, by NACVA’s Valuation Credentialing Board (VCB) on members who elect Non-Practicing CVA status.
Reinstating as Non-Practicing
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, paying one-year Professional or Associate Membership dues, and comply with recertification requirements. Note: Upon reinstatement, the Non-Practicing CVA will receive a new Non-Practicing CVA certificate dated the date of issue.
†Exception #1: Lifetime Membership Status: Professional | Credential: Discontinued CVA
CVA designees of any age who are leaving the profession of business valuation and have no intention to return, may, for a one-time fee ($999), obtain lifetime privileges of displaying the credential as discontinued CVA using the indicated notations referenced in the first paragraph above, but must add to the CVA reference the date the CVA was last active. For example, CVA (last active 2021), or CVA (active to 2021), or CVA (inactive since 2021), or CVA (active from 2008–2021), or CVA (from 2008–2021). This reference should then be followed by the non-practicing notation as referenced in the first paragraph. For example, CVA (from 2008–2021) Non-Practicing, CVA (active to 2021)-(NP*), CVA (inactive since 2021)-NP*. Such electees will receive Professional member status which gives them lifetime benefits of membership. Those who elect this path are not required to comply with NACVA’s tri-annual recertification.
If one elects this option and, for some reason, decide they want to reactivate their CVA credential, they would be required to comply with the reinstatement policies referenced under Reinstating Full Practicing and pay the associated applicable fees.
†Exception #2: Membership Status: Affiliate | Credential: Honorary CVA
Honorary CVA—If a retiring CVA member has been an active member of NACVA for 20 years or more, is age 70 or older, and no longer practices nor has any intention to start again, he/she can opt to be an Honorary CVA member for life without any dues or recertification requirements. Such members must comply with all the requirements regarding use of and displaying the credential as a non-practicing Affiliate member, but in displaying the credential they must also indicate their Honorary status. For example, CVA-Honorary (Non-Practicing), CVA-Honorary (NP*), CVA-Honorary-NP*. As an Affiliate Member, Honorary CVAs receive all the benefits of membership including the right to display the credential with the notations referenced above.
If one elects this option and, for some reason, decide they want to reactivate their CVA credential, they would be required to comply with the reinstatement policies referenced under Reinstating Full Practicing and pay the associated applicable fees.
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