Is the CVA or ABV valued by big 4 at all?
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I am Chartered accountant with 3 years post qualification experience in assurance global audit from big 4 working for canada. I am getting a CTC of 13.80LPA fixed and variable 1.48 LPA. Is this enough or should I ask for a hike..EY Deloitte KPMG PwC . I am not seeing any notification on the coming hike..
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Considering that I've never heard either of these acronyms before, I'm going to say no, not valued.
And while I don't like it as much as others - consider litigation support/expert witness testimony for bval and stuff like economic damages and lost profits. That's where the dollars are (and the resulting stress)
Thanks for the great response. I appreciate it. I am definitely interested in pursuing bus Val and litigation support. Does it matter if you do the CFE or CFF?
Is bus cal and lit support more of a private practice small firm or do big 4 type firms offer it as well?
What are these? Maybe in advisory.
Related to business valuation
If by CVA do you mean credit valuation adjustment (I.e. ASC 820) then yes.
I'm a CPA/ABV/CFF, ASA.
BVAL certifications you should consider:
If you're a CPA and a member of the AICPA (don't know why you wouldn't be, but some aren't) - you really need to consider the ABV as well as the CFF of you do any kind of litigation work. No reason not to have a certification from the organization that you're already a member of.
CVA, certified valuation analyst through NACVA.
ASA, accredited senior appraiser through the American Society of Appraisers.
Personally, I think a lot more of the ASA compared to any of the above. The ASA just has better all around training. Many years ago, the ASA was very exclusive (don't get me wrong, still is), and it did not like to certify CPAs. Saw us as trying to take away their business. So they would generally turn down CPA reports for the dumbest reasons. You have four separate courses, three days long with a 4 or 8 hour test at the end of each. After that, you have to submit two reports for review and have 5 years experience.
The CPAs got smart, and created NACVA. I think there's a two year requirement for experience, but you take a week long course, submit a report, and you're certified. In my not so humble opinion - it's a quickie way to get certified. I'd rather see the commitment to the ASA. HOWEVER. You do get exposure to all of the methodology at once, rather than parsing it out by individual method (market/asset/income/overall). I don't like that the ASA starts with the market method - my opinion is that the income method makes more sense as an introduction. But that's me.
When I went the ASA route, NACVA wasn't around yet or had just barely started. We went with the established organization and certification. Now we run into more ABVs than ASAs, a fair number of CVAs, a smaller amount of CFFs, and only a handful that have all.
Bottom line - if you're a CPA, start with the ABV and CFF. But also push to work on the ASA. I would make the CVA my last certification. I've considered it, but boss sees it as a waste of time, with already having the others. He (and me) have had very little positive experiences against people only certified as CVAs.
Never heard of these certifications. Ever.
Certified Fraud Examiner is fairly good, but I haven't run across very many. It's much more specialized. I did buy the materials for it one year but never followed through. The CFF has developed more through the aicpa in recent years.
There are quite a few firms that specialize in bval and lit - Houlihan, Hill Schwartz, etc. then you have the bigger names like Mercer Capital. When you get into the public accounting area, it seems like the smaller firms will have one partner and maybe one staff/manager that handle traditional bval for shareholder splits, estate and gift, corporate reorganization, etc., mainly for tax planning purposes. Some will be doing lit support for shareholder disputes and lost profits. You won't really see a lot of fair value practices for untangles and goodwill for audit purposes. As the firms get bigger, that starts to become more important and will be where the group can begin to focus.
Each firm will have a different description - advisory services, consulting, bval/lit. I think from at least the regional level and up, and your larger local firms, will have at least one partner who either dabbles in it or has made it his practice.
I started out in tax and transitioned to bval in my 5th year when I went to work for a partner who had started doing estate and gift tax valuations as part of his tax practice. It was about year 8 that I became an ASA.
Another route to consider is working for a law firm. The bigger firms will hire their own in-house experts to review the work of the experts they hire for testimony. And you can make really big money. But they will work you harder than public accounting. If you're young and single, it might be worth it. But you can also build a really good practice within a public accounting firm and advance - finding a niche that makes you stand out is always a good thing.
PWC1 - without going to the website, I can promise you have partners with all of these certifications and more. And likely an entirely separate department/division.