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.
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