Accredited in Business Valuation (ABV - AICPA) CPE Requirements

How to reach the regulator directly.

AICPA - Accreditation in Business Valuation
220 Leigh Farm Road
Durham, NC 27707

Tel: (888) 777-7077
Fax: (201) 938-3823

Email: abv@aicpa.org

The regulator's own published rules and related resources.

ABV Credential Holders - ABV Recertification and Reinstatement

The total continuing education hours required.

Effective January 1, 2019: Beginning with the fixed 3-year period January 1, 2019 - December 31, 2021, and 3-year fixed periods going forward, credential holders must earn 60 hours of professional valuation experience within the credential body of knowledge.

Effective January 1, 2017 - December 31, 2018: Beginning with the annual period January 1, 2017 - December 31, 2017, and all annual periods going forward, credential holders must earn 20 hours of business valuation related CPE in each annual period.

Prior to January 1, 2017: 60 hours of business valuation related CPE in a 3-year period.

The detailed rules behind that total -- category minimums, ethics, and other conditions.

Effective January 1, 2019: Beginning with the fixed 3-year period January 1, 2019 - December 31, 2021, and 3-year fixed periods going forward, credential holders must earn 60 hours of professional valuation experience within the credential body of knowledge. Continuing professional development (CPD) may include both 'structured learning activities' and 'unstructured learning activities' (refer below).

Effective January 1, 2019: Professional Ethics: Beginning with the fixed 3-year period January 1, 2019 - December 31, 2021, credential holders must earn 4 hours of professional ethics education every 3 years.

• December 19, 2018: Notes From CeriFi CPEdge: The ABV Board has clarified that any approved program in 'regulatory ethics' or 'behavioral ethics' will count toward the 4-hour professional ethics requirement; however, ethics credits earned beyond 4 hours will generally not be counted toward the remaining 56 hours, because ethics itself is not one of the topics listed in the body of knowledge. However, if the additional ethics credits are specific to valuation, or the credential holder could document why the ethics credits are specific to an engagement or part of their valuation practice, the ABV Board would accept those hours. As a result of this interpretation, CeriFi CPEdge Learning has been programmed to only count the first 4 credits of ethics toward the 'professional ethics' requirement. Additional ethics credits will not be counted toward the remaining 56 hours of valuation credits needed; so if additional ethics credits are 'valuation' specific, you can change the accreditation on your 'Activity History' tab so that the additional ethics credits are categorized in the 'Business Valuation' category.

Effective January 1, 2019: Annual Requirement:Credential holders must earn a minumum of 10 hours annually.

Subject Matter:

The following are examples of education related to business valuation:

• Cash Flow Valuation
• Specialized Valuation Skills and Training
• Analysis of Financial Information
• Financial Forecasting
• Estimating Cost of Capital (Discount and Capitalization Rates)
• Selecting and Evaluating Guideline Company Data
• Determining the Proper Valuation Discounts or Premiums
• Linkages Between Approaches, Standards of Value, Purpose of Valuation and Discounts
• Entity and Specialized Industry Issues
• Report Preparation and Engagement Administration
• Litigation and Dispute Resolution Services
• Attendance at Annual AICPA Conferences and Conferences of Other Professional Organizations Containing Valuation-related Topics.

Refer to "General Characteristics of Accredited Education" below for more details on these topics.

"Structured" and "Unstructured" Learning Activities: (Effective January 1, 2017):

Beginning January 1, 2017, a credential holder, credential holders can meet their CPD requirement entirely with traditional CPE (i.e., 'structured learning activities') or through a mix of CPE and activities such as on-the-job training or serving on a technical committee (i.e., 'unstructured learning' activities). The purpose of this change is to provide more flexibility in recognition of the multitude of ways that professionals develop competencies, while continuing to help members deliver the highest quality in professional services.

Structured Learning Activities:

A formal program of learning with an explicit, expected outcome. These types of activities may include self-study text or online courses, webcasts, live or virtual conferences or courses with a formal structure and an explicit, expected outcome. These activities include CPE approved by NASBA or a legally constituted state authority, or training from other professional bodies.

Unstructured Learning Activities:

As outlined by the AICPA, a learning activity with an expected outcome related to the development of professional competency. Unstructured activities may include coaching, mentoring, peer-to-peer learning, on-the-job training and taskforces. When considering whether or not you should include an activity, we recommend you consider the following:

• How is what I am learning relevant to the credential body of knowledge?
• Is what I’m learning related to current or future standards, guidelines or best practices?
• How are the learning outcomes of this activity relevant to my competency development?
• What benefits does the activity offer toward my current or future credential-related career goals?

Many unstructured learning and professional development activities may already exist within your organization or within professional associations to which you already belong. These are activities that many members already do day-to-day, and include leadership development, mentoring and research into evolving issues affecting their clients. The AICPA will also begin offering unstructured learning and professional development activities designed specifically for credential holders in 2017.

Unstructured Learning Activity Limitation:

Effective January 1, 2019: Unstructured learning activities may constitute up to 50 percent (30 hours every 3 years) of a credential holders CPE to meet CPD requirements.

Effective January 1, 2017 - December 31, 2018: Up to 10 hours annually can be satisfied through the new category of education called unstructured learning.

Refer to the AICPA-ABV website (link is above) for more information on structured and unstructured learning activities.

How the reporting cycle is structured.

Effective January 1, 2019: Triennial: Beginning January 1, 2019, periods are 3-year 'fixed' triennials.

Effective January 1, 2017 - December 31, 2018: Annual.

Prior to January 1, 2017: Triennial.

NOTE: January 2011: CeriFi CPEdge has been informed by the AICPA-ABV Board that because of certain reasons, the 3-year recertification periods ending on 12/31/2008, 12/31/2009, and 12/31/2010 have been extended as follows:

Credit earned during the overlapping period of 1/1/2011 - 3/31/2011 may be counted toward the requirement of either period, but not counted in both periods.

When a reporting cycle begins.

January 1.

How completed credits are reported to the regulator.

The ABV credential is renewed annually. Dues are paid by July 31 each year. When a member pays dues, they will be asked to certify that they are in compliance with the requirements as of December 31 of the preceding year. Members are subject to random audit, and only submit documentation if selected for audit.

Shortly before recertification is due, a licensee will be sent instructions on how to submit proof of complying with the requirements.

The AICPA requires maintenance of the following records:

For CPE, approved courses at a university, other continuing-education courses and trade association conferences

• Title of course/session
• Related body of knowledge subject matter
• Sponsor of course
• Name of college/university
• Format of course
• Date(s)
• Number of CPE credits, hours attended, semester credits, etc.

For Presenting

• Title of program/session
• Related body of knowledge subject matter
• Number of CPE credits awarded to participants or length of presentation
• Date(s)
• Location of the presentation

For Authoring

• Title of work
• Related body of knowledge subject matter
• Name of publisher
• Type of publication
• Date published
• Number of hours to prepare

The renewal or reporting deadline.

The ABV credential is renewed annually. Dues are paid by July 31 each year. When a member pays dues, they will be asked to certify that they are in compliance with the requirements as of December 31 of the preceding year. Members are subject to random audit, and only submit documentation if selected for audit.

→ Get monthly reminders before this deadline

What happens if the requirement is not met.

Effective January 1, 2019: If selected for audit you will be notified in writing and your recertification related learning activities must be recorded in the 'My Learning' section of the AICPA/CIMA Competency and Learning website. You are encouraged to record your annual CPD in this website regularly. If selected for audit after Year 1 or Year 2 of the cycle, member would need to document the 10-hour minimum education requirement for that year. If selected for audit after Year 3 of the cycle, member would need to document the complete education, ethics, and experience requirements.

Reduced or prorated requirements for a first renewal.

Effective Janaury 1, 2019: The newly certified ABV becomes subject to the CPD requirement on the January 1 following certificatation. Example: Certified on May 15, 2019, the first 3-year period would be January 1, 2020 - December 31, 2022.

Prior to Janaury 1, 2019: For newly certified ABV, the period begins at the end of the year you obtain the ABV credential. Any CPE earned from the time certification is obtained until the time that the recertification period begins can be applied to the first recertification period.

Who may be excused from all or part of this requirement.

A requirements waiver may be requested and will be granted if, in the sole judgment of the ABV Credential Committee, there is justification because of extreme hardship or extraordinary circumstances.

Inactive ABV credential holders need not meet the business experience and continuing education requirements during the period in which their credential is inactive. However, they must maintain a valid state CPA license and be an AICPA member in good standing.

Rule changes the regulator has finalized, with effective dates.

Refer to the specific sections above for more details on any of the items noted below.

Effective for Periods Beginning January 1, 2019, CPD requirements have been updated and include:

• Complete 60 hours of professional valuation experience within the credential body of knowledge every 3 years.
• Complete 60 hours of continuing professional development (CPD) within the credential body of knowledge every 3 years, with a minimum of 10 hours annually. CPD may include:
  • Structured learning activities – these activities include CPE approved by NASBA or a legally constituted state authority, or training from other professional bodies; or
  • Unstructured learning activities – as outlined by the AICPA - these activities may constitute up to 50% (30 hours every 3 years) of a credential holder’s CPD to meet credential renewal requirements.
• Complete 4 hours of professional ethics education every 3 years.
• Maintain membership in good standing in the AICPA.

Credential holders must attest that if these requirements are satisfied, otherwise the credential will be revoked and the reinstatement requirements must be met to regain the credential.

Refer to the sections above preceeded by 'January 1, 2019' for more details.

Effective January 1, 2017: Credit Hours Required:

Effective January 1, 2017: Beginning with the annual period January 1, 2017 - December 31, 2017, and all annual periods going forward, credential holders must earn 20 hours of business valuation related CPE in each annual period.

Effective January 1, 2018: Breakdown of Specific Requirements:

"Structured" and "Unstructured" Learning Activities: (Effective January 1, 2017):

Beginning January 1, 2017, you will need 20 hours of CPD each year to maintain your credential and attest to meeting this requirement when paying dues. CPE credits will continue to count so long as — just as before — the learning activities are relevant to the credential body of knowledge. A credential holder, therefore, could satisfy the 20-hour requirement entirely with traditional CPE (i.e., structured learning) or through a mix of CPE and activities such as on-the-job training or serving on a technical committee (i.e., unstructured learning). The purpose of this change is to provide more flexibility in recognition of the multitude of ways that professionals develop competencies, while continuing to help members deliver the highest quality in professional services.

Structured Learning Activities:

A formal program of learning with an explicit, expected outcome. These types of activities may include self-study text or online courses, webcasts, live or virtual conferences or courses with a formal structure and an explicit, expected outcome.

Unstructured Learning Activities:

A learning activity with an expected outcome related to the development of professional competency. Unstructured activities may include coaching, mentoring, peer-to-peer learning, on-the-job training and taskforces. When considering whether or not you should include an activity, we recommend you consider the following:

• How is what I am learning relevant to the credential body of knowledge?
• Is what I’m learning related to current or future standards, guidelines or best practices?
• How are the learning outcomes of this activity relevant to my competency development?
• What benefits does the activity offer toward my current or future credential-related career goals?

Many unstructured learning and professional development activities may already exist within your organization or within professional associations to which you already belong. These are activities that many members already do day-to-day, and include leadership development, mentoring and research into evolving issues affecting their clients. The AICPA will also begin offering unstructured learning and professional development activities designed specifically for credential holders in 2017.

Effective January 1, 2017: Unstructured Learning Activity Limitation: Up to 10 hours annually can be satisfied through the new category of education called unstructured learning.

Cycling Period: Effective January 1, 2017: Annual.

General Characteristics of Accredited Education:

CPE Credit Calculation:

Effective January 1, 2017: The minimum time allotment that can be recorded is 10 minutes.

• Note from CeriFi CPEdge: December 2016: The CeriFi CPEdge content distributor has been updated to calculate AICPA-ABV credits using the new NASBA CPE Standards (which were effective September 2016). Refer to the NASBA Registry Resource Summary page (under "General Characteristics of Accredited Education" / section 3.4) for more details on the new Standards for credit calcuations.

Cycling Period:

NOTE: January 2011: CeriFi CPEdge has been informed by the AICPA-ABV Board that because of certain reasons, the 3-year recertification periods ending on 12/31/2008, 12/31/2009, and 12/31/2010 have been extended as follows:

Credit earned during the overlapping period of 1/1/2011 - 3/31/2011 may be counted toward the requirement of either period, but not counted in both periods.

Effective September 2005:

• The period begins at the end of the year you obtain the ABV credential
• For newly certified ABV, any CPE earned from the time certification is obtained until the time that the recertification period begins can be applied to the first recertification period.
• For ABV who were using the old recertification periods, when their recertification period comes due, they will automatically be granted an extension to December 31 and will be placed into the new calendar year cycle. If an ABV is lacking credits by then end of their recertification period, but gains these credits during this extension period, there will be no penalties for not earning credit in a timely manner.