How can I impact USPAP revisions?
The Appraisal Standards Board (ASB) actively seeks the input of appraisers, their clients, users of appraisal services, and regulators. The ASB welcomes all comments and questions on USPAP and receives numerous telephone, electronic, and written inquiries. In response, the ASB communicates directly with hundreds of individuals each year.
In accordance with its public charge, the ASB is required to issue exposure drafts of all proposed revisions to USPAP Standards and statements. In addition, though its not required, most Advisory Opinions are also publicly exposed for comment. All exposure drafts are posted on the Foundation website and are available free of charge by contacting the Foundation directly. Interested parties can contribute to this process by submitting written comments to [email protected]
or by offering oral testimony at an ASB public meeting.
How is USPAP enforced?
Although the ASB writes, amends, and interprets USPAP, the Board does not enforce
USPAP. Through FIRREA, the federal government has mandated that the states enforce real property appraiser compliance with USPAP. Professional appraisal associations also have the legal authority to enforce USPAP compliance by their members. In addition, many users of appraisal services (such as lenders, mortgage companies, etc.) have adopted USPAP and require employee or contract appraiser compliance to USPAP.
Complaints regarding real property appraisers should be directed to the state(s) in which they are licensed or certified. For more information about filing a complaint against a real property appraiser, please visit our Enforcement and Complaints webpage
. Complaints about an appraiser of any other discipline, such as personal property or business valuation, should be forwarded to the professional organization to which the appraiser belongs (when applicable).
Will I still have to purchase USPAP every two years?
No, once you have your new copy of USPAP, you won’t need a new one for the USPAP Update Course until a new edition of standards is released.
Will I still need to take the USPAP Update Course every two years if there are no changes to USPAP?
Yes, the USPAP Update Course is not tied to the changing of the USPAP standards. It is a separate requirement set by the Appraiser Qualifications Board. Just like lawyers, accountants, and other professions who require regular education on ethical standards, appraisers must ensure that they have completed this critical course every two years.
Won’t the USPAP Update Course just be the same thing every two years if there are no USPAP updates?
No, the USPAP Update Course is updated every two years to incorporate emerging issues impacting the appraisal profession and highlight critical topics that appraisers may need more information on. Each time an appraiser takes the USPAP Update Course, it will have new material.
Will I need other materials for the USPAP Update Course?
Yes, because the USPAP Update Course will be updated on a regular basis, the accompanying student materials will be updated too. Always be sure to check with your education provider to ensure that you have all the necessary materials when you go to class.
Can I still purchase the USPAP standards with the guidance materials?
Yes. If you like having the USPAP standards and guidance material linked, we still have you covered. You can also purchase a linked digital version of the eUSPAP and Guidance and Reference Manual for seamless access across both documents.