The AICPA and the American Society of Appraisers (ASA) established an educational equivalency program for those of their members certified to perform business valuations.

* The AICPA and the American Society of Appraisers (ASA) established an educational equivalency program for those of their members certified to perform business valuations. Both organizations offer credentials for individuals who meet certain qualifications and provide objective, unbiased opinions of the value of businesses, business ownership interests and intangible assets.

Under the November agreement a member of the AICPA who has passed his or her Accredited in Business Valuation (ABV) examination will receive credit for passing ASA's four principles of valuation courses. ASA awards two credentials that represent different levels of experience: the Accredited Member (AM) and the more advanced Accredited Senior Appraiser (ASA). To earn the organization's AM or ASA designation, a CPA/ABV also must satisfy ASA experience and membership requirements, receive approval--after a rigorous peer review process--of two appraisal reports he or she has prepared and pass both an ethics examination and the Uniform Standards of Professional Appraisal Practice (USPAP) course and examination.

"This reciprocal agreement clearly recognizes both the quality of the ABV exam and the ABV credential holder's depth of knowledge," said Thomas Hilton, AICPA business valuation committee chairman.

The educational equivalency agreement is one of a series of collaborative efforts between the two leading associations, which have agreed to hold a joint national business valuation conference in Las Vegas in 2005 and to cooperatively explore education, training and technical writing opportunities.