The Authority for Generally Accepted Reserve Study Standards
The International Capital Budgeting Institute (ICBI) is the independent standards-setting organization for the reserve study profession. ICBI established the only comprehensive, professional-level standards formally issued for the preparation and reporting of reserve studies.
ICBI standards are designed to promote:
- Clarity in methodology and reporting
- Consistency in professional practice
- Comparability across reserve study reports
- Confidence in reserve study outcomes
ICBI standards serve the public interest by providing a neutral, defensible framework for long-term capital budgeting and reserve study preparation.
Establishing a True Profession
The reserve study industry has existed for decades. The reserve study profession began in 2015 with the issuance of ICBI’s:
- Generally Accepted Reserve Study Principles
- Generally Accepted Reserve Study Standards
Professional-level standards are a defining characteristic of any recognized profession. ICBI provides that foundation.
Through collaboration with aligned organizations, the profession now includes:
- An agreed-upon body of knowledge
- Formal professional standards
- Academic education requirements
- Comprehensive testing of knowledge
- A professional credential
- Continuing education requirements
- Peer review and disciplinary frameworks
- A professional forum for dialogue and research
Together, this structure elevates reserve preparation from an industry practice to a recognized profession.
The Three-Pillar Professional Ecosystem
The reserve study profession is supported by three independent but coordinated organizations:
1. ICBI – Professional Standards
ICBI establishes and maintains:
- Generally Accepted Reserve Study Principles
- Generally Accepted Reserve Study Standards
These standards define the reserve study process, reporting framework, and required professional competencies. ICBI serves the public interest — not the interests of a trade organization.
2. BPCB – Credentialing and Proof of Knowledge
The Budgeting Professionals Credentialing Board (BPCB) administers the:
Registered Reserve Consultant (RRC)
The RRC is the only reserve credential requiring proof of knowledge through comprehensive testing.
Requirements include:
- 24 hours of required education
- Comprehensive examinations
- Continuing education compliance
- Peer review
- Ethics standards
3. ARP – Trade Organization & Professional Forum
Associated Reserve Planners (ARP):
- Provides education aligned with ICBI standards
- Supports continuing professional development
- Hosts conferences and technical programs
- Maintains research and information resources
- Provides a forum for professional collaboration
ARP supports the standards established by ICBI and the credentialing requirements administered by BPCB.