Two exposure drafts issued for USPAP 2016-17

BVWireIssue #144-1
September 10, 2014

The Appraisal Standards Board (ASB) of the Appraisal Foundation has released a Third Exposure Draft of proposed changes for the 2016-17 edition of the Uniform Standards of Professional Appraisal Practice. The ASB’s plans include reviewing and revising as needed the following areas of USPAP: definition of report; edits to eliminate confusion regarding report drafts; revisions to STANDARD 3 to enhance consistency with other Standards and to clarify the dates identified and reported; edits to eliminate confusion regarding confidentiality; and other edits to improve clarity and enforceability of USPAP.

The ASB has also issued a First Exposure Draft of proposed new Advisory Opinions and Advisory Revisions in conjunction with the 2016-17 edition of USPAP.

Written comments for both documents are requested by Oct. 10, 2014.

Please let us know if you have any comments about this article or enhancements you would like to see.