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What Is the ASB and What Does It Do?

August 8, 2012

In many of our past blogs, we’ve discussed the Uniform Standards of Professional Appraisal Practice (USPAP), the generally accepted standards for professional appraisal practice in the United States. But who’s responsible for developing and revising USPAP?

That would be the purview of the Appraisals Standards Board (ASB). The ASB is an independent board of The Appraisal Foundation. It has up to seven members appointed by the Foundation’s Board of Trustees who are experienced in commercial, residential, and agricultural real estate and in business valuation.

The ASB issues Exposure Drafts, which allow for public comment on proposed changes to USPAP, and holds public meetings throughout the year in various regions of the country. During these meetings, the ASB considers changes to USPAP based on the ever-changing needs of the marketplace. In addition, the ASB considers written and oral public testimony on proposed changes to USPAP.

The ASB is dedicated to continually educating appraisers and the public regarding
USPAP by issuing monthly Q&As on the Foundation web site, participating in numerous speaking engagements, and by frequently updating USPAP instructors and state regulators.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

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