1. Congratulations to you both for an excellent report on establishing an International Designation for business valuers. What do you think the main benefit of the international designation will be for the BV profession globally? What is the benefit to BV professionals?
Edwina: An international designation for business valuers will provide a minimum level of standard, both for the professionals as well as the clients engaging these professionals so that there are no expectation gaps in terms of technical and professional standards to be followed in a valuation engagement. Especially in Asia, where valuation practices can diverge quite significantly, this will help improve and provide a minimum level of uniformity for the profession and provide assurance to buyers of valuation services that the analysis is consistent with other areas around the globe.
Jeannine: The international designation will give professionals credibility. They will be recognized everywhere in the world as providing confidence for business owners making financial decisions. The recognition and reputation of the BV profession will be enhanced by the consistency in high standards in education and accreditation.
2. Why is the iiBV the most logical organization to sponsor this designation process on behalf of the BV VPOs?
Jeannine: As an international BV organization that already has high standards in education, the iiBV is helping BV VPOs add a graduate level international designation to their basic designation of the VPO. iiBV’s courses already exist, a process of accreditation is developed and the member VPOs have the administration process in place. iiBV has been around since 2010 and is recognized as the independent body with the knowledge and experience to sponsor the designation.
Edwina: iiBV has been working internationally to increase the pre-eminence of the business valuation field. It has already developed a set of education curriculum and has been teaching it globally since 2010 which gives it the right experience and understanding of the needs of the profession globally to be the sponsor of this international designation.
3. The report refers to a uniformly high standard for education and accreditation. Practically speaking, what does this mean?
Jeannine: It means that everyone with the BV international designation has obtained the same or equivalent education and gone through a similar accreditation process and continue to keep with the professional development. The iiBV is developing an implementation plan to be ready to launch in the new year.
Edwina: The accreditation confirms that an individual has completed and passed the international business valuation curriculum and has the appropriate knowledge and experience in understanding valuation in other markets.
4. Edwina, you have young children and a busy career – how are you managing to find your balance?
Edwina: Balance is different for everybody. For me, balance means prioritizing – you can’t have everything at the same time. It is about being realistic on what you can take on before committing to a task and making sure the family is supportive of your decision.
5. Jeannine, you spent the winter in Whistler – How was the skiing? Any memorable moments you could share with us?
Jeannine: The snow conditions this winter in Whistler were the best that I remember. I have been skiing in Whistler every year for the past 27 years and it was the best season ever. Every day you ski on Whistler or Blackcomb is a memorable moment especially if you are skiing with friends and family.
**To review the iiBV Task Force Executive Summary on the International Designation, please click here!