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Ultimately, the two groups hope to streamline their respective requirements and documents so an appraiser can, for example, value a building under USPAP and IVS standards, and understand any differences in values.
Severeid's appraisal stated, "It is difficult to put a specific USPAP Standard 2 identity on an Appraisal Report prepared for the City.
As is the case with the classroom version of the National USPAP Courses, The Appraisal Foundation will not be offering the online course to students directly.
This article distinguishes between "comprehensive business valuation standards," such as USPAP and SSVS, and definitions of specific standards of value, such as fair value for financial accounting purposes as defined in SFAS 157.
USPAP was developed in 1987 by The Appraisal Foundation, which was made up of banking and appraisal associations.
The 2018-19 USPAP does not specifically address whether preliminary communications, including prior versions of the report, must be retained.
In the absence of specific instructions that the arbitrator shall make his or her own appraisal and select appraisal A or appraisal B based on whichever is closest, the arbitrator would probably have no obligation to comply with USPAP Standard 1 or 2 but may be bound by Standard 3, depending on the process called for.
USPAP standards were originally developed in 1986 by a committee representing several professional appraisal organizations in response to the savings-and-loan bailouts.
However, there remain a few misconceptions about USPAP that stagnate and confuse the industry from both the appraiser and user side.
Course studies rules of the Uniform Standards of Professional Appraisal Practice, and updates appraisers about changes in USPAP.
Pre-Conference AICPA sponsored ABV Workshop: Sunday, November 13 Re-Conference Workshops: Monday, November 14 Post-Conference ASA sponsored USPAP Course: Thursday, November 17 & Friday, November 18