If you recall, the Appraisal Standards Board put off making changes to the definition of “report” in the 2014-15 edition of USPAP (Uniform Standards for Professional Appraisal Practice). This was to allow enough time for consideration of this important topic. The time has arrived, and the ASB has included proposed changes in the just-released Second Exposure Draft for the 2016-17 edition of USPAP.
In addition to changes to the definition of “report,” there are proposed revisions to eliminate confusion regarding report drafts, revisions to Standard 3 to enhance consistency with other standards and to clarify the dates identified and reported, changes to eliminate confusion regarding confidentiality, and other edits to improve clarity and enforceability of USPAP.
Comments due: The ASB requests written comments by June 2, 2014. They can be sent to ASBComments@appraisalfoundation.org.
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