What is the ABV® credential?

What are the initial requirements to obtain the ABV® credential?

For CPAs

1. Maintain Regular, Honorary or International Associate AICPA Membership in good standing.

2. Hold a valid and unrevoked CPA license or certificate issued by a legally constituted state authority.

3. Pass the ABV® Examination. Requirement waived for candidates who have passed any one of these other qualifying valuation exams:

   1. Accredited Senior Appraiser (ASA) BV 201-204 or BV Challenge Exam

   2. Chartered Financial Analyst (CFA) Exam (Level III) of the CFA Institute

   3. Chartered Business Valuators (CBV) Exam m of the CBV Institute

4. Complete the ABV Credential Application online. Applicants must attest to meeting the minimum business experience and education requirements pay the appropriate credential fee.

5. Business experience — CPA candidates must obtain a minimum of 1,500 hours of valuation experience within the five years preceding the date of the credential application.

6. Education requirement — All candidates must complete 75 hours of valuation-related continuing professional development (CPD) within the 5 years preceding the date of the credential application.

7. Sign a Declaration of Intent to comply with the requirements of ABV Recertification.

For Finance professionals

1. Maintain an AICPA Membership in good standing.

2. Hold a bachelor’s degree or equivalent from an accredited college or university and complete training on the AICPA Code of Professional Conduct or the AICPA Professional Conduct and Standards Education for Finance Professionals course through us or your firm within 30 days of submitting your application.

3. Pass the ABV Examination. Requirement waived for candidates who have passed any one of these other qualifying valuation exams:

   1. Accredited Senior Appraiser (ASA) BV 201-204 or BV Challenge Exam

   2. Chartered Financial Analyst (CFA) Exam (Level III) of the CFA Institute

   3. Chartered Business Valuator (CBV) Exam of the CBV Institute

4. Upon successfully passing the ABV Exam, complete the ABV Credential Application online. Applicants must attest to meeting the minimum business experience and education requirements and pay the appropriate credential fee.

5. Business experience — Finance professional candidates must obtain a minimum of 4,500 hours of valuation experience within the 5 years preceding the date of the credential application.

6. Education requirement — All candidates must complete 75 hours of valuation-related continuing professional development (CPD) within 5 years preceding the date of the credential application.

7. Sign a Declaration of Intent to comply with the requirements of ABV Recertification.

Do I have to be an AICPA member to apply for the credential?
Yes. Only AICPA members and associate members in good standing can use the ABV credential. The AICPA exclusively grants the ABV credential. Join today.

Do I need an active CPA license to practice public accounting to become an ABV credential holder?
No. There are two pathways to the ABV credential.

• CPAs must hold a valid and unrevoked CPA license or certificate issued by a legally constituted state authority.

• Finance professionals must hold a bachelor’s degree or equivalent, complete training on the AICPA Code of Professional Conduct or the AICPA Code of Professional Conduct and Standards Education for Finance Professionals course through us or your firm within 30 days of submitting your application, and meet a higher valuation experience threshold.

Do I need to be an FVS Section member to apply for the ABV credential?
No. You only need to be an AICPA member in good standing. However, FVS Section members are eligible for further discounts on the ABV Exam and prep materials.

If I don’t meet the requirements to become an ABV credential holder, is there another way to get information about valuation?
Yes. You may join the FVS Section — the only requirement is AICPA membership in good standing. Alternatively, if you are not a member of the AICPA, you can purchase the Valuation Subscription.

You may also contact an ABV Champion in your state.

Is there a pathway for university professors to obtain the ABV credential?
Yes. The definition of qualifying valuation-related experience (below) includes instructing on valuation matters.

What are some examples of qualifying experience?
Experience must be related to the application of the topics the Global ABV Examination Blueprint covers during the valuation of a business, business ownership interest, security or intangible asset.

Experience may include:

• Performing, mentoring, supervising or managing valuation engagements

• Reviewing of valuations a third party prepares

• Signing valuation reports

• Consulting, instructing, authoring or developing on thought leadership and staff development on valuation matters.

As long as valuation services the analyst performs meet this definition of valuation services, the following examples qualify to fulfill the experience requirement:

• Experience performing valuation services as an employee of a financial services firm that is not an accounting firm (i.e., a consulting firm, litigation support firm, private equity firm or investment bank, etc.)

• Experience reviewing valuations as an auditor in a CPA firm

• Experience performing valuation services as an employee of a reporting entity for fair value accounting measurement and disclosure

• Experience performing valuation services for litigation, expert witness testimony and arbitration (including bankruptcy, commercial litigation, marital dissolution, etc.)

• Experience performing valuation services as an employee of a private company for management planning (including acquisitions, divestitures, investment decisions, investment performance evaluation, etc.)

Does the analysis and work product of the candidate need to culminate in a written report as defined by AICPA Statement on Standards for Valuation Services No. 1 (VS Section 100)?
No. Experience that is exempt from the reporting requirements of VS Section 100 will qualify for the ABV credential if it meets the definition of valuation services described under the Business Experience Requirement.
Does the analysis and work product of the candidate need to be signed by the candidate or must the candidate be the signer of the report (if applicable)?
No. Candidates are not required to be the signer of analysis and work product as long as it meets the definition of valuation services described under the Business Experience Requirement.
Does a CPA, ABV credential holder or the equivalent need to review the analysis and work product of the candidate to meet the experience requirement?
No. Another qualified CPA, ABV credential holder or the equivalent does not need to review the analysis or work product. The candidate qualifies as long as they complete the required level of experience stated in the Business Experience Requirement. Candidates should be aware that applications are selectively audited to ensure compliance with the ABV credential requirements.

Where can I find details about the ABV Exam including exam length, formulas and definitions, use of calculators, registration, scheduling, etc.?
Current policies are listed in the ABV Credential Exam Registration and Scheduling Terms and Conditions document.

Can I take the ABV Exam before I complete the education and experience requirements for the ABV credential?
Yes. There is no time limit in terms of when you complete the exam and when you apply for the ABV credential.

Note: Only ABV-related education and experience in the last five years can be used to meet the ABV credential education and experience requirements.

After I complete the ABV Exam, how long do I have to apply for the credential?
You can apply for the credential any time after completing the ABV Exam. We would encourage you to apply as soon as you qualify.

What is the cost of the ABV Exam?
Current pricing is listed on the ABV Exam registration page.

Do I receive any credit for passing another valuation credential exam?
The exam requirement is waived for candidates who have passed any one of these other qualifying valuation exams:

• Accredited Senior Appraiser (ASA) BV 201-204 or BV Challenge Exam

• Chartered Financial Analyst (CFA) Exam (Level III) of the CFA Institute

• Chartered Business Valuators (CBV) of the CBV Institute

Do ABV Exam results include numerical scores or just pass/fail results?
Numerical score results are not included in result letters. The ABV Exam is designed to assess whether candidates have a sufficient base level comprehension of the ABV Body of Knowledge. Therefore, results are issued as either “pass” or “fail,” indicating whether the exam-taker meets this minimum threshold.

You must pass both test modules within 12 months after passing the first module (measured from the end of the exam window) to pass the ABV exam.

How long is the grading process and when do ABV Exam candidates find out if they passed or failed?
Pass/fail score results will be displayed on screen immediately after completing your exam. A follow-up email with pass/fail score results are sent immediately afterwards.

What materials does the AICPA recommend to study for the ABV Exam?
Our recommendation is that test candidates do not solely rely upon one resource to prepare for the exam and that they use the numerous materials prescribed along the ABV Pathway.

Here is a list of materials the AICPA recommends exam candidates use to fully prepare for the exam:

• Global ABV Examination Blueprint — Provides full ABV body of knowledge and the resources upon which the exam questions are based (free)

• ABV Examination Review Course — Advanced-level course available in self study targeting those areas that will be tested in the ABV Exam

Note: The level of preparation may vary by individual based upon the level of education and experience a candidate already has.

If I am an ABV credential holder, do I automatically become a Forensic & Valuation Services Section member?
No. Join the Forensic & Valuation Section for high-quality resources and more than 10 free CPE hours.

I have applied for the ABV credential. What happens next?
You will receive a welcome letter upon approval of all required documentation and payment. Once you receive notice, you may use the ABV credential under the rules of the state in which you practice.

Note: Additional information may be requested in support of any application at any time.

Does the AICPA audit ABV credential applications?
All approved applications are subject to random audit at any time. False or incorrect applications may result in suspension or revocation of ABV credential and/or eligibility.

Do all eligibility requirements need to be completed before submitting my ABV application online?
Yes, all requirements including exam, education and experience must be completed before applying online for the ABV credential.

The only exception is the required training on the AICPA Code of Professional Conduct or the AICPA Professional Conduct and Standards Education for Finance Professionals course, which may be completed within 30 days after applying.

How does the ABV credential differ from other valuation credentials?
The AICPA exclusively grants the ABV credential to CPAs and finance professionals who demonstrate substantial expertise that meet professional standards.

The ABV credential gives members an edge by setting them apart with the best tools and resources. This allows them to provide the best service to their clients and employers.

Read the ABV credential handbook for more information.

What is required to maintain the ABV credential?

To maintain the ABV credential, please review the recertification requirements information.

What happens if my job changes or other professional or personal circumstances preclude me from meeting the recertification requirements promptly?
Your ABV credential will be revoked if cutoff dates are not met for recertification requirements.

Under what conditions may an ABV credential holder request inactive status?
The ABV credential does not have an inactive status.

How do you reinstate a lapsed or revoked ABV credential?
Go to the ABV credential landing page and select the Reinstatement pathway. Applicants must be current on the education requirement to be reinstated. Reinstatement applicants do not need to re-qualify for the examination and experience requirements.

How do you determine if continuing professional development (CPD) is related?
Related CPD adds to the credential holder’s knowledge, understanding and skills to perform valuation engagements. The Global ABV Examination Blueprint provides a detailed outline of CPD topics that are directly related to the conduct of a valuation engagement and are considered to be part of the required body of knowledge for the ABV credential holder.

What is the correct use of the ABV credential?
The use of “ABV” on letterheads, business cards and other marketing materials by CPAs is governed by the rules of the board of accountancy in the state(s) in which you practice. The AICPA does not have a prescribed format for the credential.

Most state accountancy laws are silent on whether CPAs can use the specialty credential. In 1994, the U.S. Supreme Court decided the Ibanez case, which held that states couldn’t prohibit a CPA from using a specialty credential, such as the ABV credential, unless there is factual proof of real or potential harm.

If you check with your state board and run into a problem in using the credential, email us at abv@aicpa.org.

May I use the ABV credential by itself after my name?
Using the ABV credential by itself would not cause a member to violate Rule 102—Integrity and Objectivity (misrepresenting facts) or Rule 502—Advertising or Solicitation. Please check with your state board of accountancy as state accountancy rules may impose other restrictions (if applicable).

Can a firm include “Accredited in Business Valuation” or “ABV” on its letterhead and in marketing materials?
The ABV is an individual credential and not a firm credential. It is permissible under AICPA Ethics Rule 502 for a firm to hold itself out as Accredited in Business Valuation and to use the ABV credential on its letterhead and in marketing materials only if all partners or shareholders of the firm currently have the ABV credential.

An individual member who holds the credential may use it after his or her name. CPA firms, please check with your state board of accountancy as state accountancy rules may impose other restrictions (if applicable).

If I am no longer a member of the AICPA, can I still use the ABV credential?
No. You cannot use the ABV credential if your AICPA membership is terminated or lapsed.