Appraisal Standards Board to Issue Fourth Exposure Draft for 2020-21 USPAP
ASB Commitment to Open and Inclusive Process
Worked
For Immediate Release
February 8, 2019
(Scottsdale, Arizona) – After careful
consideration of public comments, the Appraisal Standards Board, an independent
board of The Appraisal Foundation, unanimously agreed to move forward with a
fourth exposure draft for the 2020-21 edition of the Uniform Standards of
Professional Appraisal Practice (USPAP) at its public comment meeting today in
Scottsdale, Arizona. The ASB will issue the fourth exposure draft within the
next few weeks. At that time, the ASB will announce the date and place for its
next public meeting, where final adoption of changes for the 2020-21 USPAP is
expected.
“Throughout
this process, the Appraisal Standards Board has been committed to the widest
public exposure of 2020-21 USPAP edition,” said 2019 Appraisal Standards Board Chair Wayne Miller.
“After hearing the comments today, especially about the single reporting
standard issue, the ASB decided it was critical to issue a fourth exposure
draft.”
“The ASB
clearly heard the concerns,” said Vice President, Appraisal Issues for The
Appraisal Foundation John Brenan. “This demonstrates that the open,
transparent, and inclusive process worked.”
The public
exposure of proposed changes for the 2020-21 edition of USPAP has been
extensive with comments coming from the three exposure drafts, discussion at
The Appraisal Foundation Advisory Council, Industry Advisory Council, appraisal
discipline resource panels, and multiple webinars.
The
Appraisal Foundation is the nation’s foremost authority on the valuation
profession. The organization sets the Congressionally-authorized standards and
qualifications for real estate appraisers, and provides voluntary guidance on
recognized valuation methods and techniques for all valuation professionals. This
work advances the profession by ensuring appraisals are independent,
consistent, and objective. More information on The Appraisal Foundation is
available at www.appraisalfoundation.org.
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Media Contact: David Greer
Director of Communications
The Appraisal Foundation
[email protected]
direct phone 202.624.3048