Parnell Black: setting the valuation course.

• Author: Haraldsen, Tom
• Position: Spotlight

Parnell Black's career plan was centered on accounting, right through the time he earned his MBA from the University of Utah. Upon graduation, he worked in finance--which he thought was his professional passion. But his journey changed directions when he decided to "get into the education business."

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Today, Black is CEO of the Salt Lake City-based National Association of Certified Valuation Analysts, a business he created in 1991 along with former partner Robert Green.

"We worked together at the same CPA firm, and one area where we both had modest experience was business evaluation," Black recalls. "At that time, there wasn't much out there in terms of companies evaluating privately-held firms, so we saw the need to develop a program on how to valuate them."

As CPAs, Black and Green knew that part of continuing professional education for licensed accountants involved business valuation. That led to the formation of what is now the nation's leader in standards setting for the valuation industry. Black knew that such an association needed to focus on setting industry standards, developing a training program, continued embellishment of that program, and perhaps most importantly, litigation support.

Though he and Green parted ways in 1996, NACVA continued to grow; today the organization has 7,000 members and is constantly looking for ways to maintain growth. There are more than 4,500 certified valuation analysts (CVA) and accredited valuation analysts (AVA), thanks to the association--more than all the other valuation credentials combined in the nation.

NAVCA is also credited with formulating one of the most aggressive training development programs in the United States through its Consultants' Training Institute (CTI), which adds as many as 10 new courses a...