The Appraisal Foundation issued a summary of actions taken at the recent ASB meeting. VanEd was in attendance and wanted to publish this for our members, students and affiliates. As USPAP changes, VanEd will continue to monitor those changes and update course materials as necessary to meet new published standards.
Meeting Summary October 18, 2013 Washington, DC
On October 18, 2013, the Appraisal Standards Board (ASB) held its third public meeting of the year. At the meeting, the ASB gave a detailed overview of the feedback received at the panel hearings in Chicago on July 19, 2013, including:
USPAP educational needs, including the practical application of USPAP
Need for new and revised DEFINITIONS
Possible changes to the RECORD KEEPING RULE
Report drafts, interim communications, and revised reports
The ASB also discussed possible next steps on the above-referenced topics, as well as other issues being looked at for the 2016-17 edition of USPAP and the overall future direction of USPAP. The ASB intends to publish a First Exposure Draft of proposed changes for the 2016-17 edition of USPAP by the end of the year.
The next ASB public meeting is scheduled for February 21, 2014, in Orlando, Florida.