The Appraisal Standards Board has published the first exposure draft of the suggested changes for the 2014-15 edition of the Uniform Standards of Professional Appraisal Practice (USPAP). The Appraisal Foundation has posted th draft online. The ASB is accepting comments on the exposure draft until July 6th, 2012. Comments may be sent to the ASB via Fax or Email at the following;
email: ASBComments@appraisalfoundation.org fax: (202) 347-7727
This exposure draft includes:
Proposed Retirement of STANDARDS 4 and 5 (including proposed edits to the Conduct section of the ETHICS RULE)
Proposed Revisions to the DEFINITION of "Assignment Results"
Proposed Revisions to the DEFINITION of "Report"
Proposed Revisions to the RECORD KEEPING RULE
Proposed Revisions to Scope of Work Acceptability section of the SCOPE OF WORK RULE
Proposed Revisions to the DEFINITION of "Scope of Work" and the SCOPE OF WORK RULE
Proposed DEFINITION of "Scope of Report" and SCOPE OF REPORT RULE
Report Options (includes separate proposals for two report options, and for a single report option)
Proposed Revisions to the COMPETENCY RULE
Proposed Revisions to the PREAMBLE on when the standards apply
Issued on May 24, 2012
Written comments requested by July 6, 2012
Note: The Appraisal Standards Board is holding their next public meeting in Denver Friday, July 13th to continue work on the proposed changes to USPAP for 2014-15.
Written and Published by: VanEd