Ever wonder who reads those comments to ASB Exposure Drafts?

BVWireIssue #48-3
September 27, 2006

“Every Board member reviews every comment that we receive,” according to Carla Glass, CFA, FSA, director, Privately-Held Company Valuations (American Appraisal Associates, Dallas), one of seven members of the Appraisal Standards Board (and its sole BV representative), which held a public meeting last week in Denver, CO. “We really read and study these, turn them into a QnA, an advisory opinion, or educational course materials.”

The ASB—which develops, interprets and amends the Uniform Standards of Professional Appraisal Practice (USPAP)—“cannot do our work effectively without these substantial comments and their reasonings,” Glass says. “We don’t look at letterhead or signature; we pay more attention to a well-written comment that makes a good point.” The Board met in Denver to discuss recent comments to USPAP’s Reporting Requirements; next on the agenda is a December, 2006 Exposure Draft regarding possible revisions to USPAP in the Supplemental Standards Rule, the Jurisdictional Exception, the Public Policy definition, and more.

Want an ASB member to appear at your local BV society? At the meeting, each of the Board members read off an impressive list of recent speaking engagements; for more on securing an ASB speaker, visit appraisalfoundation.org.

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