CPAs continue fight against opening ABV credential to non-CPAs
A group of CPAs is stepping up its efforts to force the American Institute of CPAs to change its decision about opening the Accredited in Business Valuation credential to non-CPAs.
The AICPA Council voted in May to allow non-CPAs to qualify for the credential, but the move provoked an open letter in June from 32 CPAs and ABV holders protesting the move, arguing it would confuse the public and harm the reputation of the current credential holders (see CPAs object to AICPA offering ABV credential to non-CPAs). They sent a follow-up email to the AICPA disputing the Institute’s response in a letter of its own and in a webinar.“The AICPA then published a letter arguing that it followed its process in making the change and presented a timeline of events supporting their process,” said the group. “However, the AICPA made factual errors in the process timeline and, further, it has since changed the timeline several times in an attempt to correct these errors; however, the current version of the AICPA timeline is still incorrect. On July 16, 2018, the AICPA presented a national webinar to the CPA/ABV community (without including any of the signers of the Open Letter) to discuss (after the fact) why it made the change and the purported benefits. However, during this webinar, the AICPA publicly acknowledged that: 1) its process for seeking the change in the credential was flawed and, 2) the published timeline included errors." Read more on Accounting Today.