Mr Pankow holds the ASA designation from the American Society of Appraisers, the MCBA designation from the Institute of Business Appraisers and the ABV designation from the American Institute of Certified Public Accountants.
AMERICAN SOCIETY OF APPRAISERS
Organized in 1936, the American Society of Appraisers (the Society) is the oldest and only major appraisal organization representing all disciplines of appraisal specialists. The Society offers the Accredited Member (AM) and Accredited Senior Appraiser (ASA) designations to its members who meet the following criteria:
- Four year college degree or equivalent.
- Minimum two years (AM) or five years (ASA) of full-time appraisal experience.
- Attendance of four 27-hour Society training courses in business valuation.
- Successful completion of four proctored examinations in business valuation.
- Approval by the Society’s International Board of Examiners and two actual business valuation appraisal reports prepared by for clients.
- Successful completion of a 15-hour course and examination on the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation.
- The Appraisal Foundation is authorized by Congress as a source of appraisal standards and appraiser qualifications.
- Successful completion of an examination of the Society’s Code of Ethics.
INSTITUTE OF BUSINESS APPRAISERS
Established in 1978, the Institute of Business Appraisers (IBA) is the original national professional society devoted exclusively to the appraisal of closely held businesses. The IBA offers the Master Certified Business Appraiser (MCBA) designation to those members who have demonstrated a significant commitment to business valuation education and practice. Attainment of the MCBA required the member to meet the following criteria:
- Ten years of full-time business valuation experience and designated as a CBA for not less than five years.
- Attainment of at least one other professional designation awarded by the ASA, AICPA or NACVA.
- Recommendations from three individuals who have known the applicant for not less than five years and who currently hold the MCBA designation.
The IBA offers the Certified Business Appraiser (CBA) designation to its members who meet the following criteria:
- Four year college degree equivalent.
- Successful completion of a four hour proctored written examination.
- Approval by the IBA Qualifications Review Committee of two actual appraisal reports prepared for clients.
The IBA offers two additional designations, the Business Valuator Accredited for Litigation (BVAL) and the Accredited by IBA (AICA). The BVAL designation is offered to members who meet the following criteria:
- Successful completion of the IBA-7001 workshop and four hour proctored exam.
- Demonstration of presentation and process competency during the testimony clinics.
- Attainment of a prior business appraisal designation from the IBA, ASA, AICPA or NACVA, or be a CBA candidate who has passed the CBA examination.
- Documentation of trial performance from at least two attorneys, or complete 16-hours of education in the types of cases in which an applicant anticipates serving as an expert witness.
The AIBA is the junior designation of the CBA and is offered to members who meet the following criteria:
- Successful completion of all sessions of the IBA-8001 workshop and four hour proctored exam (or possess a business valuation designation from the ASA, AICPA or NACVA).
- Approval by the IBA Qualifications Review Committee of one actual appraisal report.
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS
The American Institute of Certified Public Accountants (AICPA) began offering the Accredited in Business Valuation (ABV) accreditation in business valuation in 1997. This accreditation is offered to CPAs who successfully complete the following:
- Be a member in good standing of the AICPA.
- Hold a valid CPA certificate license.
- Provide evidence of ten business valuation engagements.
- Successful completion of a proctored eight hour examination.
NATIONAL ASSOCIATION OF CERTIFIED VALUATION ANALYSTS
The National Association of Certified Valuation Analysts (NACVA), founded in 1991, is an organization that offers the Certified Valuation Analyst (CVA) designation to its members who meet the following criteria:
- Be a CPA, member of the American Institute of Certified Public Accountants and/or a member of the individual’s State Society of Certified Public Accountants.
- Attendance of a 40-hour NACVA business valuation course.
- Successful completion of a two part examination. Part one is a four hour proctored examination and part two is a take-home examination that includes a standardized case study.
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