Nat. Assoc. Cert. Valuation Analysts (CVA / AVA) CPE Requirements

How to reach the regulator directly.

The National Association of Certified Valuators and Analysts (NACVA)
5217 South State Street, Suite 400
Salt Lake City, UT 84107

Tel: (801) 486-0600 / (800) 677-2009
Fax: (801) 486-7500

Email: recertification@NACVA.com

The regulator's own published rules and related resources.

CVA/AVA and ABAR Recertification and Reporting Requirements

The total continuing education hours required.

Effective for Reporting Period 2014 and Beyond: Overall Requirement is 60 points, which must include a minimum of 36 CPE credits.

October 2019: Taken from NACVA Recertification Guide: For the CPE period January 1, 2017 – December 31, 2019, CPE relating to business valuation, financial litigation/financial forensics, forensic accounting, financial statement analysis, gift and estate planning, professional standards, exit planning, accounting, economics, tax, audit, M&A, Fraud, transaction advisory services, healthcare valuation, ethics will qualify towards recertification.

Updated in 2019: Recertification assures that designees continue to enhance their knowledge and maintain a level of competence current with the progress of the industry. NACVA’s recertification program follows a 60-point/60 CPE-hour system, whereby designees must obtain 60 points to comply with recertification. One hour of Continuing Professional Education (CPE) equals one point. The point system allows for additional (Bonus) points for attendance to training (recommended programs) that NACVA considers especially helpful for practitioners to stay well-rounded in the performance of their services, increase their awareness of recent industry developments, and be alert to issues that lead to, or contribute to, the quality of one’s work product. It also awards points for contributions to industry knowledge upon meeting certain criteria. By obtaining additional points, one can reduce the 60-hour CPE requirement to as low as 36 hours in a three-year cycle. (Refer to "Other Special Rules" below for a list of NACVA's recommended programs.)

FAQ Taken from the NACVA Website: Can I complete recertification if I have over 60 points?

• Yes, if you also have 36 hours of CPE.
• If you don’t have 36 hours of CPE, then recertification is incomplete.
• If you have 60 hours of CPE in the applicable areas, you simply owe the $300 recertification fee.

Note from CeriFi CPEdge: Because the minimum amount of CPE required by NACVA is 36 CPE credits, CPL has been designed to use 36 hours at the total requirement in the NACVA status report. However, if you earn CPE beyond the minimum of 36 credits, the NACVA status report will continue to count your activities. Because 1 point = 1 CPE credit, you can enter any NACVA “points” earned as CPE credits into CeriFi CPEdge to manage your overall requirement of 60 points.

Effective for Reporting Periods Ending 2013 and Earlier: NACVA's recertification program follows a 100-point system, whereby credentialed members must obtain 100 or more points to comply with recertification. Designees are required to obtain a minimum of 36 hours of CPE in each three-year period in valuation, litigation, or fraud consulting. At least 18 of the 36 hours must be in the areas of business valuation or litigation consulting (not all 36 hours can be fraud), for which credentialed members will receive 50 points towards fulfilling the 100-point requirement. Additional points will be awarded to designees who can demonstrate having earned applicable CPE in "excess" of their 36-hour requirement, where each additional CPE hour will equal one point up to a maximum of 25 additional points. Therefore, a maximum of 75 NACVA points may be earned through CPE (equivalent to 61 qualified CPE hours).

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

Effective for Reporting Period 2014 and Beyond: Activities must be in business valuation, litigation support, financial forensics, or related areas. Acceptable hours of Non-NACVA CPE will be related to maintaining the integrity of your NACVA designation. A few examples of acceptable hours of CPE are business valuation, litigation, financial forensics, Mergers and Acquisitions, Ethics, Fraud, Transfer pricing, or Economics.

For Reporting Periods Ending in 2013 and Earlier: Designees are required to obtain a minimum of 36 hours of CPE in each three-year period in valuation, litigation, or fraud consulting. At least 18 of the 36 hours must be in the areas of business valuation or litigation consulting (not all 36 hours can be fraud), for which they will receive 50 points towards fulfilling the 100-point recertification requirement. Additional CPE may be earned (beyond the 36-hours required). Each additional CPE hour will equal one point, up to a maximum of 25 additional points. Therefore, a maximum of 75 points may be earned via CPE credit.

How the reporting cycle is structured.

Triennial.

• For designees initially certified in 2001 or later, the initial triennial compliance period ends on December 31 of the third full calendar year following initial certification. Subsequent renewal periods follow every three years thereafter.
• For designees initially certified prior to 2001, three-year compliance periods were assigned to the designees.

When a reporting cycle begins.

January 1, but prior to 2001 the dates varied.

How completed credits are reported to the regulator.

Online CVA Recertification Reporting Form (access is available on the NACVA website).

Reporting CPE Optional:

Designees may attest to having fulfilled NACVA's tri-annual CPE reporting requirements and may use NACVA's reporting form to track their CPE and record keeping. Designees must also agree that NACVA HQ, the Valuation Credentialing Board (VCB), or designated body, has the right to audit such designee to confirm he or she has indeed met the recertification requirement. Audits will be performed randomly, except unless a designee is reported to the Ethics Oversight Board (EOB), in which case, the audit may be prudent.

When completing the online form, CVAs/AVAs may submit a recertification reporting form (optional). If used, the form should include the following information:

• Course / Program Title / Sponsor
• Training Format
• Seminar (S)
• Conference (C)
• Self-Study (SS)
• Other (O)
• Date(s) Taken
• Number of CPE Hours Awarded (one hour equals one point)

The renewal or reporting deadline.

Beginning in 2001: December 31, every three years. There are no extensions.

Updated in 2019: Based on the frequency of changes and developments in the industry, the VCB determined that recertification requirements must be completed every three years. This period starts with the first full calendar year after receiving the designation and in three-year cycles thereafter. The reporting date for recertification is December 31 of the year the compliance is due. For example, if the designee certified in July 2019, the recertification requirements must be completed by December 31, 2022, the compliance due date. Using the example above, the next compliance due date would be December 31, 2025.Fees will be assessed to designees in order to cover HQ costs for administering and processing the recertification program.

Prior to 2001: The reporting dates varied.

→ Get monthly reminders before this deadline

What happens if the requirement is not met.

Members who are not in compliance with their recertification requirements are placed on inactive status. When this occurs their designation is removed from NACVA's web directory and they cannot use their designation in any capacity until all requirements have been completed.

Members who have gone more than three but less than five years as inactive are required to take certain courses (call NACVA for a list) to fulfill part of their 36-hour CPE recertification requirement. This is to assure they are abreast of recent industry developments. Five or more years of Inactive Status require that one retake the applicable CVA/AVA exam to reactivate.

Reduced or prorated requirements for a first renewal.

CPE must be completed and reported within three years starting with the first full calendar year after receiving the designation, and in three-year cycles thereafter. For example, if the designee certified in July 2011, the CPE requirements must be completed and reported by December 31, 2014.

Credits earned between a designees date of initial certification and the first following December 31 may be applied towards the CPE requirement of the first renewal.

CVA CANDIDATE STATUS: CVA applicants who lack the necessary experience requirement but have completed NACVA’s certification exam can use the applicable appellation, but must display the word “Candidate” after the designation, i.e., CVA Candidate. The designated Candidate has up to three years to fulfill the applicable experience requirement and attest to such evidence, at which time the designated Candidate will no longer be required to display the word “Candidate” when using the designation. If such evidence is not produced within three years, the applicant will lose the right to use the appellation altogether. For CPAs to be a “CVA Candidate,” one must have first passed the CPA exam and be lacking only the experience requirement in his or her state preventing him or her from obtaining the CPA license. For non-CPAs, one must have met the Substantial Experience Requirement as defined in the qualifications for Non-CPA Candidates. All CVA Candidates must comply with NACVA’s recertification requirements during the three year period.

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

ELECTING OR IMPOSED INACTIVE STATUS:

Updated May 29, 2014: Certified members who wish to defer recertification compliance and reporting due to extended inactivity in business valuation, financial forensics, unemployment, or a medical condition, but do not want to lose his or her certification, may elect “Inactive Status” as an Associate or Professional member for up to five years. Under this election (which is automatically imposed for non-compliance with recertification), the member cannot use his or her NACVA designation in any capacity, i.e., on business cards, curriculum vitae, signed reports, firm/company website, company letterhead, yellow pages, other organization websites, etc., and will have to fulfill his or her recertification requirements for one reporting period to reactivate. If reactivation occurs within one year, the member may keep his or her original date of certification, but must continue on the original recertification cycle. Otherwise, the member’s effective date of certification will be changed, and a new certificate issued to reflect the current date, placing the member on a new three-year recertification cycle.

Prior to May 29, 2014: Certified members who wish to defer recertification compliance and reporting due to extended inactivity in business valuation, financial forensics, unemployment, or a medical condition, but do not want to lose his or her certification, may elect “Inactive Status” as an Associate or Professional member for up to five years. Under this election (which is automatically imposed for non-compliance with recertification), the member cannot use his or her NACVA designation in any capacity, i.e., on business cards, curriculum vitae, signed reports, firm/company website, company letterhead, yellow pages, other organization websites, etc., and will have to fulfill his or her recertification requirements for one reporting period to reactivate. If reactivation occurs within one year, the member may keep his or her original date of certification, but must continue on the original recertification cycle. Otherwise, the member’s effective date of certification will be changed, and a new certificate issued to reflect the current date, placing the member on a new three-year recertification cycle.

Updated May 29, 2014: Members who have gone more than three, but less than five, years as inactive are required to take certain courses (call NACVA for a list) to fulfill part of his or her CPE recertification requirement. This is to assure he or she is abreast of recent industry developments. Five or more years of Inactive Status require that one retake the CVA, ABAR, or MAFF exam, whichever is applicable, and for CVA’s, resubmit a sample case study or actual sanitized fair market value report. A reactivation fee is assessed to reinstate one’s status from Inactive to Active Status regardless of whether or not it was elected or automatically imposed by Headquarters and membership must be upgraded to Practitioner level.

Prior to May 29, 2014: Members who have gone more than three, but less than five, years as inactive are required to take certain courses (call NACVA for a list) to fulfill part of his or her 36-hour CPE recertification requirement. This is to assure he or she is abreast of recent industry developments. Five or more years of Inactive Status require that one retake the CVA or ABAR exam and submit a sample case study or actual sanitized fair market value report. A $150 reactivation fee is assessed to reinstate one’s status from Inactive to Active Status regardless of whether or not it was elected or automatically imposed by Headquarters and membership must be upgraded to Practitioner level.

SPECIAL CONSIDERATION FOR ACTIVE MILITARY SERVICE DURING DEPLOYMENT

• Upon notification and prior to deployment, NACVA membership dues will be suspended (put on hold) for the duration of deployment;
• When member returns from active duty, membership dues will be reinstated;
• If recertification became due during the period of deployment, member is granted one year from when he or she returns to fulfill his or her recertification requirements.

RETIRED STATUS: Individuals, 62 years and older, who are retired and issuing six or fewer valuations, calculation or financial forensic reports per year, can continue to display their credential in business communications, including, but not limited to, letterhead, headers/footers of the report, business cards, and/or his or her curriculum vitae, and valuation reports, as long as they include “retired” after their designation, for example, CVA (retired) or ABAR (retired). Those who elect retired status can maintain NACVA membership as a Professional or Associate member, and are only required to comply with one component of recertification; taking NACVA’s Current Update in Valuations (CUV) once every three years (via live, webinar, or self-study). CPACVAs no longer have to maintain their CPA license. A retired member may not market his or her services, but may accept unsolicited valuation or financial forensics projects, and must adhere to special requirements that may be subsequently promulgated by NACVA’s Valuation Credentialing Board or Litigation Forensics Board, as applicable. In all cases, the retired member must follow NACVA’s Professional Standards in the performance of such work.

Whether unused credits can apply to the next period.

There will be no carryover of the excess CPE hours to the subsequent reporting period.

→ CE Tracking calculates carryover for you

Rule changes the regulator has finalized, with effective dates.

Effective for Reporting Period 2014 and Beyond: Overall Renewal Requirement is now 60 points, which must include a minimum of 36 CPE credits. Prior to the 2014 reporting period, NACVA was based on a 100-point system. The minimum amount of CPE required in any three-year period remains 36 CPE hours, but licensees can earn more than 36 hours. (refer to "Credit Hours Required" above).

Corresponding to the reduction of the overall points requirement, the amount of bonus points awarded for participating in NACVA recommended training programs has also been reduced. (refer to "Other Special Rules" above).