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Utah Association of CPAs Objects to ABV Credential for Non-CPAs

Thursday, October 11, 2018   (0 Comments)
Posted by: Amy Spencer
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In May, the AICPA Council voted unanimously to expand the ABV credential to those not holding a CPA license. Previously, the ABV credential was only available only to CPAs whose services are focused in business valuation, but the move was made to "promote consistency, quality and transparency in the valuation marketplace." Through this change, "both CPAs and financial professionals will follow the same professional ethics and valuation standards as they perform business valuations, helping firms to manage risk and provide reliable service to clients."  

The UACPA board members have submitted a letter expressing opposition to the AICPA's decision. The letter addresses the way the expansion of the credential was presented and offers suggestions for moving forward, including an ask to reopen the issue for member comments and present the issue for a re-vote. 

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