Effective December 28, 2013, IACVA is rebranding our valuation credential as the ICVS-International Certified Valuation Specialist.  The following are intended to answer some of the most frequently asked questions about this important development.

Frequently Asked Questions (FAQ)-ICVS

1. Q.  When will I receive my certificate for the ICVS?
A. Current holders of the CVA that have been issued by IACVA will receive the new ICVS certificate anytime between January 25, 2014 and February 15, 2014. There will be no requirement for a new application.

2. Q.  Why has the IACVA professional designation changed to ICVS?
A. There are three primary reasons for this change: 

a.    The global business community demands that the business valuation profession be able to apply uniform best-practices that build confidence and trust.  After input and requests from Charter and Associate members, the Board of Directors concluded that it is timely to establish a valuation credential that is distinctly titled as an "international" certification. The ICVS clearly conveys that it is an international designation.
b.    The global financial markets have substantially matured over the last 10 years.  More and more valuation specialists are required to value businesses using "fair value" standards that have been issued by the accounting bodies.  Fair Value has become more integrated with valuation engagements for M&A as well as the settlement of controversies (partner disputes, economic damages, divorce, etc.). ICVS is an international credential that identifies the valuation professional as having both training and testing in the important areas covered by "fair value." This is especially true for the theory and techniques involving the valuation of intangible assets and intellectual property (IA/IP), which has always been an integral part of IACVA training and testing.
c.    The CVA credential originated in the U.S.A.  However, the Board has felt for a considerable time that the US core training requirements do not sufficiently address the growing need for basic valuation skills in the area of IA/IP.  The CVA will be issued by NACVA.  
d.    IACVA will continue to distinguish its international certification with the new ICVS brand.

3. Q.   I have had my CVA for many years. What date will be on the ICVS certificate?
A.  Each new ICVS certificate will have the same date as shown on the original CVA certificate.

4. Q.  I have shown "CVA" on my resume/CV for many years. Is this a problem?
A. We suggest that your resume/CV continue to show that you had earned the CVA in the past and that the ICVS is the rebranded credential.  An example:
ICVS* earned in 2008. 
*I earned the CVA in 2008 from IACVA, which rebranded the valuation credential in 2014 to be the ICVS. I continue to hold the ICVS. 

5. Q. My stationery and business cards were just reprinted with "CVA."
A.  You should reprint these items as soon as is practical in order to avoid confusion with both your clients and the public.

6. Q. My CVA has lapsed, but I wish to have the ICVS.  What steps are necessary?
A. Depending on the length of the lapse, you may be able to activate the ICVS with minimal or no additional training or testing.  However, such lapses are dealt with on an individual basis; you will need to make contact with your Charter organization to obtain or certify the requisite continuing education, and to pay your current dues.  The opportunity to reactivate your credential without an additional examination will expire in 2014. 

7. Q. How will the ICVS be received in the international community?
A. The international community has, over the last decade, come to regard IACVA as a leading valuation organization.  The IACVA members are located in more than 50 countries, with both their common and divergent needs for professional valuation services.  IACVA is a member of the International Valuation Standards Council and is also an advisor on valuation standards for the International Accounting Standards Board which promulgates IFRS.  Many of our board members and officers serve as advisors and adjunct professors for reputable professional and government agencies, associations and universities.  We have been and will continue to work with the international valuation community to shape the valuation landscape.

In addition, there has been discussion in the international community of the growing need for a truly international valuation credential.  The IACVA Board intends that ICVS will fulfill that need and be the leading global valuation credential. We believe that the timing for rebranding will never be better!

Because of the position that IACVA enjoys in the international community of professional valuations, recognition of the ICVS is expected to come quickly during 2014.  IACVA will have a vigorous campaign in 2014 to highlight the ICVS credential.

8. Q. Will fees and costs go up as a result of the rebranding?
A. No.

9. Q. Can I still call myself a CVA after the rebranding?
A. No.  Please refer to question 3, 4 and 5 above for necessary changes.

10. Q. I am a candidate for the CVA credential from IACVA.  What will be granted after I pass the exam requirements?
A. As of December 28, 2013, IACVA will only grant the ICVS to existing candidates as of that date.

11. Q.  Will IACVA continue its membership in IVSC and WAVO?
A. Absolutely!  Membership in both organizations is an integral part of being an international valuation credentialing organization.