National Association of Certified Valuation Analysts
The National Association of Certified Valuation Analysts (NACVA^®), located in Salt Lake City, Utah, is the nation's leading professional association supporting the business valuation and litigation community. It achieved this position by thoughtfully, yet aggressively, developing training and support programs to help practitioners build their practices and rapidly respond to industry trends and needs.

Most importantly, NACVA offers three certifications to practitioners who want to be recognized for their knowledge and expertise in the field of business valuation. NACVA's designations are the most revered in the industry:

• Because of the stringent requirements for obtaining and holding the designations
• Because NACVA's certified members are an active, dedicated, and conscientious force within the valuation discipline

Along with training and a nationally recognized certification program, NACVA offers a range of support services, state-of-the-art software, reference materials, customized databases, and other products to fill every need and void in the valuation discipline.

Many of NACVA's 4,500 experienced members are Certified Public Accountants (CPAs), most of whom we have accredited in the business valuation discipline as Certified Valuation Analysts (CVAs).

Some of the more common reasons for obtaining a business valuation include:

• Purchase/Sale of a Business
• Mergers and Acquisitions
• Buy/Sell Agreements
• Divorce and Partner Disputes
• Estate/Gift Tax and Planning
• Split-ups/Spin-offs
• Actions in Eminent Domain
• Initial Public Offerings (IPOs)
• Charitable Contributions
• Employee Stock Ownership Plans (ESOPs)
• Succession Planning

How NACVA Supports Its Members
As the industry's leader, the National Association of Certified Valuation Analysts continually strives for improvement by seeking ways to expand services and develop new products that contribute to members' quality and effectiveness in serving the community. NACVA supports its members by:

• Adding to their knowledge base through curriculum development
• Increasing efficiencies with better research support, custom databases and improvements to valuation software
• Identifying, acquiring and creating resources useful in the individual practice
• Promoting awareness and credibility for practitioners and the services they provide through standards development and building relationships within the legal and professional communities

Through a separate division, NACVA also boasts the best and one of the most active research support programs in the professional community: the Business Valuation Research Institute (BVRI). NACVA's BVRI provides members access to extensive research capabilities, providing them with an unparalleled range of services having application in all levels of consulting, business valuation and litigation support. The Institute's comprehensive services include:

• Up-to-date industry, metropolitan, economic and comparable company studies
• Case law and topical research
• Open-ended research to provide just about any information required

Combining NACVA's mastery of the Internet and research skills with a highly educated staff and over 100 technical consultants supporting members of the Association, NACVA offers the depth of support comparable to the nation's largest consulting firms.

The Importance of Certification and Re-certification
The National Association of Certified Valuation Analysts certifies practitioners to perform business valuations as a service to both the practitioner community and the users of their services. Through training and rigorous testing practitioners must demonstrate that they are qualified to provide capable and professionally executed business valuation services. The Association requires training as a prerequisite to certification to assure practitioners have the knowledge and understanding necessary to perform competent services, and to assure a level of consistency and continuity in their work/product.

Users of business valuation services benefit by having greater confidence that the service they receive:

• Is professional in quality
• Adheres to industry standards of practice
• Meets a level of expertise the Association deems credible and worthy of one of its certified members

As both a service to the industry and an assurance of quality in their work, NACVA-credentialed members must meet periodic recertification requirements, including:

• Participation in a Quality Enhancement program
• Completion of a course entitled Valuation Ethics, Standards & Reporting - An Update
• Completion of Continuing Professional Education (CPE) in areas related to business valuation and litigation support
• Maintaining membership in one's state CPA Society and/or the American Institute of Certified Public Accountants (AICPA), because these organizations also regulate the ethical conduct of their members

The recertification process allows certified members to demonstrate their commitment to the business valuation discipline and keep themselves current on changes in the industry which might impact how they perform their services.

NACVA is currently the only business valuation credentialing organization mandating recertification compliance beyond a periodic CPE requirement. This initiative was enacted by NACVA's members to promote continuing personal development and give added assurance to users of valuation services that they are receiving the best services the industry has to offer.

What Is the Value of a CVA?
The Certified Valuation Analyst (CVA) designation is a statement to the business, professional, and legal community that an individual is qualified, through academic and practical experience, to meet the high standards and professional expertise required by the National Association of Certified Valuation Analysts (NACVA) for providing business valuation services. The Association recognizes exemplary skills and knowledge upon a member's successful completion of a rigorous training and testing process by bestowing the professional designation of CVA.

CVAs are professionals committed to high standards of excellence through the advancement of technical skills and knowledge in finance and business valuation theory.

To become a CVA the practicing professional must:

• Be a Certified Public Accountant (CPA) licensed in his or her state

To hold the CVA designation requires:

• Membership in NACVA
• Fulfilling periodic recertification requirements
• Obtaining Continuing Professional Education (CPE) in areas related to business valuations and/or litigation support each year

The Certified Valuation Analyst is an elite designation for CPAs, a group of highly qualified consultants who provide independent business and intangible asset valuation services. A background in tax, auditing, accounting for business and financial analysis, along with specialized knowledge in business valuation gained during the CVA certification process and through experience, prepare the CPA to effectively manage the intricate complexities inherent in the business valuation process.

The CVA designation is acknowledgment of an advanced level of knowledge and expertise in many areas of valuation theory. The CVA professional is qualified to provide business valuation services to:

• Attorneys
• Business owners
• Financial planners
• Investment bankers
• Real estate appraisers
• Business brokers
• Financial institutions
• Insurance companies
• Judges

Business valuations are necessary in a broad spectrum of situations of need, opportunity or adversity. A NACVA-trained and qualified valuator provides valuation services to meet many individual and business requirements, such as:

• Adequacy of Life Insurance
• Allocation of Acquisition Price
• Bankruptcy and Foreclosures
• Buy/Sell Agreements
• Charitable Contributions
• Employee Stock Ownership Plans (ESOPs)
• Estate and Gift Taxes
• Fairness Opinions
• Financing
• Franchise Valuation or Evaluation
• Gifting Programs
• Incentive Stock Option Programs
• Initial Public Offerings (IPOs)
• Lease versus Buy
• Liquidation or Reorganization
• Litigation Support:
•    Disruption of a Business
•    Dissenting Shareholder Actions
•    Divorce
•    Economic Loss Analysis
•    Eminent Domain
•    Partner Disputes
•    Wrongful Death
• Mediation and Arbitration
• Mergers and Acquisitions
• Sale or Purchase of a Business
• Split-ups/Spin-offs
• Succession Planning

The Importance of Standards of Professional Practice
The valuation industry provides standards under which business valuation services are to be performed and the conclusions communicated. Standards are intended to assure users the service they receive meets an industry acceptable level of:

• Care
• Due diligence
• Thoroughness
• Quality

Standards also assure that the valuator adheres to ethical guidelines in the performance of his or her engagements.

Business valuators affiliated with a nationally recognized business valuation organization, such as the National Association of Certified Valuation Analysts (NACVA), are required to adhere to industry standards.

Standards protect users of valuation services by providing a mechanism with which to regulate practitioners' conduct and work quality. Practitioners affiliated with a valuation organization are subject to disciplinary action for non-compliance to standards and could lose their certification for flagrant departures. The Standards promulgated by NACVA address all aspects of members' work product, including:

• Professional conduct
• Executing consulting and litigation engagements
• Performing a business valuation, starting with obtaining the information required to understand the business and scope of the engagement, moving through to the analysis phase which includes the methodology used and other important technical considerations
• Identifying any scope limitations
• Reporting the conclusions drawn from the analysis

NACVA's Standards assure you the necessary procedures, as established by the valuation industry, have been taken to provide you with a competent, well-executed and professional business valuation.