The Canadian Institute of Chartered Business Valuator
The Chartered Business Valuator (CBV) designation is the premier designation for those practicing business valuations and legal advisors in Canada. CBV’s are recognized as business experts in the Canadian legal system and are often called upon by courts in cases involving financial matters in all aspects of corporate law. They may also advise and consult on important decision making by senior management in all industries.
CBV’s can quantify the value of a business thereby determining its worth. Business valuations are a complicated process and CBV’s know the proper valuation methodologies and how to handle complications such as intangible assets and complex financial instruments.
The salaries of CBV's are dependent on the industry, any specializations and the size of the firm. Typically CBV's start at a salary of $80,000. Some legal specializations can demand salaries of well over $200,000.
Typically CBV candidates already hold one or more professional designations which may affect the calculated salary increase. The total increase from a candidate that holds the minimum requirements will be significantly less than a candidate that already has many years of experience and an accomplished professional record.
A degree from an accredited post-secondary institution or university is required to begin the CBV designation. This prerequisite is waived for individuals with the Chartered Professional Accountant (CPA) or Chartered Financial Analyst (CFA) designations.
Candidates must also be able to confirm that they meet one of the following criteria:
a. The candidate already has experience in business or securities valuations.
b. The candidate is currently employed at a firm that offers business or securities valuation services.
c. The candidate has past experience and is employed at a firm that offers accounting or financial services
The process to become a Chartered Business Valuator is long, taking an average of 3-4 years to complete. The process includes a 'Program of Studies' which includes 6 full semester courses, followed by a Membership Examination and Practical Experience.
1. Pass 4 mandatory and 2 elective course examinations
2. Pass the Membership Qualification Examination
3. Obtain a minimum of 1,500 hours of practical experience
Practical Experience must include at least 750 hours which are within Business Valuation, Corporate Finance, or Litigation support where a conclusion related to a Business's Value is provided.
All CBV designation holders must complete a minimum of 20 hours of continuing education. One half of the minimum hours must be 'structured activities', which include taking or teaching courses or seminars with attendance records, tests or exams.
The minimum required hours are averaged over a 3 year period, therefore if minimum is missed in a single year, additional courses can be taken in the following year to maintain the minimum 3 year average.
The remaining courses can be 'unstructured activities' which could include private technical research, the writing of technical articles, and auditing of CICBV courses.
For more information, see the CIBVC Continuing education guidelines.