Valuation Research Corp. (VRC) announced it will support a new credential for valuators.
Professionals, who value businesses and intangible assets for U.S. public companies, will have the credential of the CEIV (Certified in Entity and Intangible Valuations) available to them by the end of the 2016 year.
“We are pleased to see the industry getting behind a structured approach to credentialing professionals and providing ongoing professional education,” VRC co-CEO William Hughes said in the company’s news release. “We believe a credential is needed 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 likely will 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,” VRC Co-CEO PJ Patel said. “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 providing valuations and value-related services worldwide,