Milwaukee, WI (October 25, 2016)
VRC and its professionals support a new credential for valuation professionals who value businesses and intangible assets for U.S. public companies. The CEIV™ (Certified in Entity and Intangible Valuations™) is expected to be available by year-end.
“We are pleased to see the industry getting behind a structured approach to credentialing professionals and providing ongoing professional education,” said William Hughes, Co-CEO. “We believe a credential is needed to further improve confidence in valuations, provide standards for comparison, and to address concerns from regulators including the SEC.”
The credential will be available through three organizations: The American Society of Appraisers (ASA), the American Institute of Certified Public Accountants (AICPA), and the Royal Institution of Chartered Surveyors (RICS). Qualifications for the credential are expected to include valuation experience, education, and testing. Ongoing continuing education is also likely to be a requirement for maintenance of the credential.
“Implementation will not be without challenges as the industry finalizes the standards and the parameters around the requirements and documentation,” said PJ Patel, Co-CEO. “However, we encourage the industry to employ rigor to assure regulators and practitioners embrace this new credential as a meaningful measure of professional standards.”
VRC furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate, and fixed assets. VRC has provided valuations and value-related services worldwide since 1975. VRC has locations in Atlanta, Boston, Chicago, Cincinnati, Houston, Milwaukee, New York, Princeton, San Francisco, and Tampa; as well as international affiliates in Argentina, Australia, Brazil, Canada, China, Colombia, Germany, Luxembourg, Mexico, Spain, and the United Kingdom.