Canadian Institute of Chartered Business Valuators

Canadian Institute of Chartered Business Valuators
Abbreviation CICBV
Formation 1971
Legal status not for profit organization
Objective establish the highest education standards of business valuation practice and education[1]
Headquarters Canada Toronto, Canada
Coordinates 43°38′40.4″N 79°23′28.86″W / 43.644556°N 79.3913500°W / 43.644556; -79.3913500[2]
Region served Canada
Membership 1899 (as of Jan 1, 2018)
Member's designations CBV, FCBV
Official languages English, French
President & CEO Mary Jane Andrews
Governing body Board of Directors
Website https://cicbv.ca/

The Canadian Institute of Chartered Business Valuators (CICBV) is a Canadian business valuation organization. The CICBV is a not-for-profit valuation professional organization that establishes the practice standards, educational requirements, and ethical guidelines for its members.

The Chartered Business Valuator (CBV) designation is a credential for business valuation professionals in Canada.[3] CBVs are governed by The Canadian Institute of Chartered Business Valuators.[4] CBVs quantify the value of a business, its securities, or its intangible assets.[5] CBVs use a variety of valuation methodologies to arrive at a conclusion, and explain their approach, methodology and conclusions in an easy to understand manner.[6] Various approaches used include asset-based approaches (liquidation, adjusted net book value), return based approaches (capitalized earnings, capitalized cash flows, discounted cash flows), and market-based approaches (comparable company multiples). In the context of litigation, CBVs quantify the damages or losses arising in a legal dispute.[7]

History

The CICBV was founded in 1971 by 28 valuation professionals under the leadership of George Ovens.[8] At the time, the introduction of taxation of capital gains in Canada facilitated the general need for business valuation.

Education Requirements

After completing the CICBV's comprehensive Program of Studies (which includes six courses dealing with business valuation, Canadian taxation, the law, and litigation support), completion of the Membership Qualification Exam (held annually), and obtaining practical experience requirements, candidates are then admitted to the membership.[9]

Students must take four courses as part of their education requirements:[10]

  • Level I – Introductory Business Valuation
  • Level II – Intermediate Business Valuation
  • Level III – Advanced Business Valuation
  • Level IV – Special Topics in Business Valuation

and pick 2 electives from the following:

  • Valuation for Financial Reporting
  • Litigation Support in Business Valuation
  • Corporate Finance
  • Private Investments

CBVs also have continuing professional development requirements. The CICBV supports this requirement by organizing various webinars, regional workshops and national conferences that address current and evolving industry topics. CBVs are required to adhere to the Standard of Professional Practice as well as its Code of Conduct and Code of Ethics.

Course Exemptions

The CICBV grants various advanced standings to other organizations and universities education partners:

  • CFA Institute: Individuals who have passed the Level I, Level II and Level III exams of the Chartered Financial Analyst Program are exempt from the requirement to complete two elective courses.
  • CPA Canada: students who chose "Finance" in the Professional Education Program (PEP) as an elective are exempt from Level I.
  • American Society of Appraisers: ASA-BV designation holders are exempt from Level I, Level II, and Level III.
  • University of Waterloo School of Accounting and Finance: Master of Accounting (MAcc) students who have taken and passed ACC606 Business Valuations are exempt from Level I and Level II.

National and International Partnership

CICBV forms various partnerships and relationship with organizations in Canada and the world to develop the business valuation profession and expand the CBV's international presence, including the following:[11]

See also

References

  1. ↑ "Mission and Vision". CICBV. CICBV.
  2. ↑ "Contact Us". CICBV. CICBV. Retrieved 30 July 2018.
  3. ↑ "Chartered Business Valuator - CBV". Investopedia. Investopedia. Retrieved 30 July 2018.
  4. ↑ "An Introduction To The Chartered Business Valuator Designation". Investopedia. Investopedia. Retrieved 30 July 2018.
  5. ↑ "The MNP Valuation Guidance Series: Retaining a Chartered Business Valuator:" (PDF). MNP LLP. MNP LLP. Retrieved 30 July 2018.
  6. ↑ "What is a CBV?". CICBV. CICBV. Retrieved 31 July 2018.
  7. ↑ "What is a Chartered Business Valuator?". CICBV. CICBV. Retrieved 30 July 2018.
  8. ↑ "The Canadian Institute of Chartered Business Valuators: Profile". CICBV. CICBV. Retrieved 30 July 2018.
  9. ↑ "What is a CBV?". CICBV. CICBV. Retrieved 30 July 2018.
  10. ↑ "Course Curriculum". CICBV. CICBV. Retrieved 30 July 2018.
  11. ↑ "International". CICBV. CICBV. Retrieved 30 July 2018.
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