CFV            QFV           FEM

MRA             CRA            IRA

ORA             LRA           PRA

Non-FAS Certifications

"Valuation is a craft that you learn by doing and I hope my classes help you in fine tuning your skills. Roi and Noam, you are welcome to use both classes as your basis for IAVFA's valuation certification programs. I wish you the best and on my next trip to Israel, I will be glad to give a talk to the IAVFA's members"

Aswat Damodaran, Ph.D, MBA, Professor of Finance in Stern School of Business at New York University

"Establishing IAVFA is certainly a worthy initiative. So, feel free to use my books as the references to IAVFA's financial actuarial science certification programs. If one of my travels bring me close to Israel, I would be pleased to visit the IAVFA"

Philippe Jorion, Ph.D, MBA, Professor of Finance in Paul Merage School of Business  at University of California-Irvine 

"Congratulations to IAVFA's founders. Indeed, for years this institution is requested against the despisers of the valuation profession. Go forth and succeed!"

Moshe Azriel, MBA ,MA ,CFV, CEO at Ducas Economic Planning Consultancy Ltd

"I see in IAVFA trying to voluntarily regulate the professions of valuation and financial actuarial science in Israel - a big step in the right direction. It's always better to come up with an arrangement or arrangement proposal than letting the government impose some arrangement on us"

Yossi Sapir, CPA, CFV, Partner and Manager of the Financial and Business Consulting Department at MBT Consultants Ltd

"As a Technology and Entrepreneurship superpower which is known as the START-UP NATION - Israel is creating great interest in the international investors' arena. M&A transactions are formed daily and global companies who pay for valuations are expecting high level products in accordance with the International Financial Reporting Standards (IFRS). IAVFA establishment constitutes an important pillar in the development of valuation profession, foundation of a common language and and regulation of uncompromising standards. Congratulations to the IAVFA's founders who saw it coming, had acted and continue in vigorous action to make this dream into reality"

Yossi Dekel, CLU, CFV, CEO of K.O.Dekel & Co.

"United States is full with valuators,and not necessarily for financial reporting. There is the world of tax, courts and there are plenty of worlds in which the input of valuators is important. In this context, since in Israel there is no voluntary system which regulates the valuation profession - so IAVFA is the appropriate mechanism"

Albert Kristal, MBA, CFV, Ph.D student and Owner of Corp-Valuation

"In my opinion there is a need for IAVFA mainly because there is no factor which comes on behalf of the valuators and launch some Internal enforcement compared to real-estate appraisers and etc."

Mark Damin, MBA, FEM, QFV, CFV, Quantitative finance Analyst at Shaarey Ribit Ltd

"I would like to congratulate Roi and Noam for the blessed initiative of establishing IAVFA - Well done! I am honored to be among the first members of IAVFA and I would love to take an active part in its institutions"

Ilan Kalmanovich, MBA, Attorney, FEM, QFV, CFV, CEO of Leaders Consulting and Management Ltd​

"I hope that the establishing IAVFA will result in that the valuators in Israel would publish higher quality valuations, based on adequate data and in accordance with the international practice standards"

Moty Schor, MSc, CPA, PRM, FRM, IRA, ORA, CRA, MRA, Owner of The Seventh Dimension Ltd

"The step of Israel Securities Authority related to the "Disclosure regarding the Independence of a Valuator and the Significance of the Valuator which results from a number of valuations" regulations is a blessed step in the right direction but so far no regulatory authority, including the ISA didn't define at all who is a valuator, what are the professional demands required from him, what are the required qualification and professional experience and what are the proper disclosure and basic assumptions required in the valuator's report. In the current situation today, the valuation profession is completely open and requires a series statutory or voluntary comprehensive regulation. Therefore, establishing IAVFA is a positive step in the right direction"

Moran Shtainberg, MBA, QFV, Head of Economic Departmentat at Global Financial Horizons Ltd

Continuing Professional Education

"I would like to commend IAVFA for choosing to adopt the professional standards of the IVSC. In my opinion, by the adopting the professional standards of the IVSC it will be possible to create a common and international language which will promote the Israeli capital market, both for the benefit of the local market operators and for strengthening ties with the international investors community"

Assa Drori, MBA, QFV, Senior Economist and Head of Investment Banking at Global Financial Horizons Ltd

"The establishment of IAVFA is a necessary measure in order to implement advanced rules of ethics, professional standards and regulations of independence. Way the go for the blessed initiative which will add and raise the level of ethics and professionalism of the valuation profession"

Hillel Basch, MBA, MA, FRM, IRA, ORA, CRA, MRA, Ph.D student and CEO of Smart Options Ltd

"In my view, if there will be a regulation of the valuation profession and people will work according to clear rules then the public confidence will rise and prevail"

Amit Tesler, MA, CFV, Owner of Monitor Investments Control

"Way the go for establishing a professional Association which will generate parameters of becoming conduct and ethics professional Like anywhere in the world"

Roman Falk, MA, CPA, CFV, Director at Fahn Kanne Consulting Ltd

"In an era in which all the borders are open and Israeli companies as well as the local stock exchange want to attract foreign investors, there is a need for a Single Passport for the Tel Aviv Stock Exchange and uniform standards for valuators such as in the world's leading markets. The way to attract foreign investors is long, and is related to many factors beyond our control - but we should do what is required in the areas under our control. Therefore, the establishment of IAVFA is a welcome step in the right direction"

Ben Zion Israel, MA, CPA, FRM, IRA, ORA, CRA, MRA, FEM, QFV, CFV, Partner and CEO of Israeli Startup Opportunity Board (ISOB)

The Israel Association of Valuators and Financial Actuaries (IAVFA) is a professional organization, an institution for professional training and a body which specializes in placing professional employees in the financial sector in Israel. IAVFA strives to voluntarily regulate the professions of valuation and financial actuarial science in Israel, both by setting pre-qualification requirements, ethical principles for practitioners in these professions, and by training and certifying quality professionals for these professions. IAVFA provides both placement services in order to integrate its credentialed members in leading positions within the Israeli labor market, and mediation services between valuation consumers and valuation specialists.

© 2014–2015 by Israel Association of Valuators and Financial Actuaries (IAVFA). All Rights Reserved.

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