Non-Practicing Status for CVA Credential Holders
CVA designees of any age who are leaving the profession of business valuation can continue to display their CVA credential in business communications, including, but not limited to letterhead, headers/footers, business cards, and/or his/her curriculum vitae, etc., so long as they include “(Non-Practicing)” or “(NP)” or “-NP” after their designation. When NP is used, it must be footnoted with an asterisk (*) (or similar) where it is noted as “*Non-Practicing.” For example, CVA (Non-Practicing), CVA (NP*), or CVA-NP*. To carry this privilege, the CVA must attest each year, that when they pay their required annual dues (on a form provided), they no longer perform business valuation services for third-party users of the service and have no intent to do so in the next year. Those who elect Non-Practicing CVA status must maintain NACVA membership either as a Professional member with full Association benefits or as an Associate member with no benefits other than the right to display the credential notated as indicated above. Associate member dues are significantly reduced. Non-member CVAs cannot elect Non-Practicing CVA status; this status is only available to members.
All Non-Practicing CVA designees are required to comply with one component of recertification for which there are associated fees—taking, once every three years, the U.S. or international versions of either:
- NACVA’s Current Update in Valuations (CUV) course and obtaining eight-hours CPE (via in-person, virtual, or self-study)*,
- OR attending NACVA’s Around the Valuation World (AVW) monthly webcast and obtaining 12 hours CPE*,
- OR alternatively, attesting to 36 hours of Applicable CPE.
- OR, if one is an active and licensed CPA in their state and have remained so since electing Non-Practicing CVA status, they merely need to attest to such because CPAs nationwide are required to obtain 40-hours of CPE each year which qualifies as Applicable CPE under NACVA’s recertification requirements.
*Attending either CUV or AVW to fulfill the tri-annual recertification requirement, brings with it a 100% offset of the $200 recertification fee.
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A Non-Practicing designee may not market or provide business valuation services, nor may the designee’s employer use the designee’s name or credential in promoting business valuation services unless the CVA credential is followed by “Non-Practicing,” “NP*,” or “-NP*” if this is a service employer provides. If it is found that such designee violated these requirements without first fully reinstating their CVA designation, their membership will be immediately terminated and their CVA privileges revoked. In all cases, the Non-Practicing designee must follow NACVA’s Professional Standards in the performance of valuation work on his/her behalf or where his/her employer is the direct beneficiary of such work. In all areas of work, it is required that the designee adheres to NACVA’s General and Ethical Standards, a part of the Professional Standards, to assure that the designee upholds the high standards of professional conduct the Association expects of its members and designees.
Non-Practicing CVA designees who wish to reinstate their designation to full practicing status must reactivate their credentialed status following the same procedures as required for designees who have been on Inactive Status. Special requirements may be subsequently imposed, or modified as the case may be, by NACVA’s VCB on members who elect Non-Practicing CVA status.
CVAs who have dropped membership and/or their CVA designation, intentionally or due to non-payment of dues/fees, who desire to reinstate their status as a Non-Practicing CVA, may do so by paying a reinstatement fee, paying one-year Professional or Associate Membership dues, and comply with item numbers 1 through 4 of our recertification requirements noted above. Note: Upon reinstatement, the Non-Practicing CVA will receive a new Non-Practicing CVA certificate dated the date of issue.
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