The Appraisal Standards Board (ASB) has just issued the first exposure draft of proposed revisions for the next edition (2014-2015) of the Uniform Standards of Professional Appraisal Practice (USPAP). This exposure draft includes a proposal to retire Standards 4 and 5 as well as proposed revisions to:

• the definition of “Assignment Results” and “Report”;
• the definition of “Scope of Work” and the scope of work rule, including its “Scope of Work Acceptability” section; and
• report options (includes separate proposals for two report options and a single report option).

Download the first exposure draft here; written comments requested by July 6, 2012.