Two Master's Graduates Receive Scholarship for Dedication to Valuation Field

News Story: November 7, 2017
From left are Jack Welch College of Business Professor Danny Pannese, NACVA CT chapter representatives
Robert Carubia and Roz DeCaprio and student recipients Salvatore Dora and Amy Gioco. 

Two graduates who hold master’s degrees in accounting (MSA) from Sacred Heart University have received scholarships funded by the Connecticut chapter of the National Association of Certified Valuators and Analysts (NACVA).

Chapter representatives from NACVA, Robert Carubia and Roz DeCaprio, presented the awards to SHU graduates Salvatore Dora and Amy Gioco. This is the third consecutive year that Sacred Heart University students have received the scholarship.

The Connecticut chapter of NACVA established the scholarship fund to assist SHU accounting students who want to become certified public accountants (CPAs) and certified valuation analysts (CVAs). These two professions are related but perform distinct functions: CPAs provide financial audit and tax services, while CVAs determine the value of a business based on its assets, income, cash flow and similar factors.

The scholarship gives graduates access to a network of professionals in the valuation field, with the goal of having recipients join and expand the chapter. It is awarded to MSA students who “demonstrate a dedication both academically and professionally in analytical work and in particular valuations,” according to SHU’s Office of University Advancement.

“I had a wonderful experience learning and exploring business valuation in the accounting profession,” Dora said. “I was able to apply all the knowledge I acquired during my time at Sacred Heart University and while studying for the exams. These experiences gave me a better understanding of the subject. I spent countless hours and sleepless nights working on my capstone project, and I am honored to be recognized for my hard work. It is truly a great feeling to have your efforts pay off.”

Students working for their MSA must complete a full valuation for their capstone course. Dan Pannese, associate professor at Sacred Heart and one of the earliest members of NACVA in Connecticut, said, “This semester-long project is judged by two practitioners and two academicians, based on content and their presentation skills. The NACVA scholarships are given to especially deserving students.”

Gioco, an audit associate at KPMG, said, “The Sacred Heart MSA program gave me the opportunity to explore business valuation. My valuation classes opened my eyes to a new area of accounting that I had never studied before. I hope to obtain my certification through NACVA in the next couple of years.”

For more information on NACVA, visit and