In a two-page letter penned to The Appraisal Foundation (TAF), the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the National Association of Independent Fee Appraisers expressed “strong support” for TAF’s Strategic Plan and “the overall direction it charts for what TAF intends to accomplish over the next several years.”

Why the ringing endorsement? Among other things, the trio notes that TAF’s Plan and vision of its future role address several key issues affecting valuation practice and the appraisal profession.  Some of the Plan highlights more specific to the business valuation community include:

• Growing dependence on the Uniform Standards of Professional Appraisal Practice (USPAP) and professional appraisers by the federal government.
• A pledge to work with institutions offering course work and degrees in valuation to ensure standards are met.
• The integral role that TAF can play by “advocating acceptance of the protocols of professional appraisal practice (i.e., standards and qualifications) and in monitoring adherence to them by all parties.”
• Recognition that TAF must “focus greater attention on issues affecting the non-real property appraisal disciplines, such as business valuation, personal property, machinery and technical specialties and appraisal review.”

If you’d like to read the letter, we’ve posted it here.