The Appraisal Foundation and the Appraisal Standards Board has published the first exposure draft for the 2914-2015 version of USPAP. Major changes impacting personal property appraisers appear to by record keeping, scope of work, report options and the competency rule. Written comments are being accepted up to July 6th. I have worked on the TAFAC committees and comments are reviewed and taken seriously.
The ASB reports
The Appraisal Standards Board (ASB) has issued the following document:
First Exposure Draft of proposed changes for the 2014-15 edition of the Uniform Standards of Professional Appraisal Practice
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 - When Do USPAP Rules and Standards Apply?
Link: https://appraisalfoundation.sharefile.com/d/s06679aeff2d40dab
Issued on May 24, 2012
Written comments requested by July 6, 2012
Send Comments to ASBComments@appraisalfoundation.org
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