Raymond Rath, Managing Director at Globalview Advisors, was awarded the Certified in Entity and Intangible Valuations (CEIV) designation by the International Board of Governors of the American Society of Appraisers (ASA). The CEIV credential provides parties involved in the preparation and review of valuations prepared for financial reporting purposes with evidence of the valuation preparer’s commitment to enhancing audit quality, consistency and transparency in fair value measurements.
To obtain the CEIV designation, individuals must complete coursework specific to financial reporting valuations and pass an examination to demonstrate their technical competence. Elements of the coursework include:
- Accounting standards issued by the Financial Accounting Standards Board (FASB);
- Auditing standards issued by the Public Company Accounting Standards Board (PCAOB) and the American Institute of Certified Public Accountants (AICPA);
- Valuation standards including the Uniform Standards of Professional Appraisal Practice issued by The Appraisal Foundation; and
- Valuation performance standards set forth in the recently released Mandatory Performance Framework (MPF) requirements. The MPF was issued in January 2017 by Corporate and Intangibles Valuation Organization, LLC (CIVO). The CIVO is a not-for-profit entity formed by the ASA, AICPA and Royal Institute of Chartered Surveyors (RICS) to help develop a framework to advance the quality of financial reporting valuations.
The course also covers the financial reporting body of knowledge including ASC 820, 350, 805 and 718 among others.
In addition to technical knowledge requirements and minimum performance standards as set forth in the Mandatory Performance Framework, CEIV credential holders are required to meet annual recertification requirements, as well as additional requirements every three years to maintain the CEIV credential.
Efforts pertaining to the CEIV can be traced back to concerns regarding the quality of valuations prepared for financial reporting raised by the U.S. Securities and Exchange Commission in its role as a capital markets regulator. The sufficiency of procedures performed pertaining to fair value estimates has also been noted frequently in PCAOB inspection reports.
In addition to the CEIV credential, Mr. Rath is designated by the ASA in performing business and intangible asset valuations. He is also credentialed in Appraisal Review and Management (ARM) by the ASA. Mr. Rath wrote a chapter titled “Private Company Valuation” that was published in the CFA Institute publication, Equity Asset Valuation. The chapter has been included in the CFA Level 2 international assigned reading for CFA credential candidates.
For further information, please contact Raymond Rath, ASA, CEIV, CFA at 949 475.2808 or via email at firstname.lastname@example.org, or Michael Haghighat, ASA at 949.475.2801 or via email at email@example.com.