BUSINESS VALUATION ASSOCIATION
REPRESENTATIVES MEET

Representatives from five U.S. and Canadian business valuation associations met March 1­2, 1997, in Chicago. Represented at the meeting were the Business Valuations and Appraisals Subcommittee of the AICPA, the Business Valuation Committee of the American Society of Appraisers, the Canadian Institute of Chartered Business Valuators, the Institute of Business Appraisers, and the National Association of Certified Valuation Analysts.

The purpose of the meeting was to give representatives of each association a chance to exchange information and ideas on issues affecting the business valuation profession. The attendees reached consensus on a number of topics.

The participants have agreed to the establishment of a "quick action" network on state and national legislation affecting the business valuation profession; exchanges of information among the organizations, including the standards, code of ethics, and educational offerings of each association; information, and calendars on upcoming conferences; and updating one another on happenings within The Appraisal Foundation. Each association also intends to appoint a member to act as liaison with each of the other organizations.

The participants at the meeting agreed that there is much that the organizations can do to promote the professionalism of business valuers and to improve the quality of valuation services available to the public. The chance for personal contact and exchange of ideas will continue as new areas for discussion arise.

The American Society of Appraisers (ASA) has approximately 5,800 members in 84 chapters nationwide and in over 24 countries. It teaches, tests, and accredits appraisers in all disciplines and specialties. Business valuers account for about one-third of ASA's membership.

The Institute of Business Appraisers (IBA) has a membership of over 2,500 and offers members educational seminars and workshops, as well as member-support services, including bibliographic research and computer-based files of business transaction data.

The Canadian Institute of Chartered Business Valuators (CICBV) is the largest professional valuation organization in Canada. It was established to promote high standards in business and securities valuations. Members are entitled to use the professional designation CBV (Chartered Business Valuator) following completion of study and practical experience requirements. The institute's 650 members and 350 students provide a broad range of business valuation services to Canada's business, legal, investment, banking, and governmental communities.

The National Association of Certified Valuation Analysts (NACVA) is an association of CPAs devoted to providing business valuation services. It is committed to the development of professional knowledge, the continual improvement of business valuation theory, and the highest level of quality service and support to its membership of over 2,800 valuation professionals. *