<snip>
On October 3, 2008, the ASB issued its First Exposure Draft of proposed changes to the 2010-11 edition of USPAP, which consisted of proposed edits relating to:
Definition of Signature
Definition of Jurisdictional Exception and the JURISDICTIONAL EXCEPTION RULE
The ETHICS RULE
The COMPETENCY RULE
STANDARD 3, Appraisal Review, Development and Reporting
<snip>
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ASB Issues 2nd Exposure Draft on Revisions to USPAP
3 posts • Page 1 of 1
ASB Issues 2nd Exposure Draft on Revisions to USPAP
by Otis on Tue Dec 23, 2008 8:19 pm
http://www.appraisalfoundation.org/s_ap ... C=FILE.PDF
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Otis - Certified Residential
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Re: ASB Issues 2nd Exposure Draft on Revisions to USPAP
by Steve Owen on Wed Dec 24, 2008 12:59 pm
This looks like a potential problem to me:
The problem is, it is a MUST. However, the comment refers to a 'may disclose except when confidentiality prohibits it' situation. The problem I see with it, as worded is that it would require you to disclose past services within 6 months. However, if you had promised the prior client you would not disclose, that puts you in conflict. Turning down the assignment would be the only other option. I don't believe I agree with the ASB logic in proposing this rule.
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If known prior to accepting agreeing to perform an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in the subsequent report certification:
The problem is, it is a MUST. However, the comment refers to a 'may disclose except when confidentiality prohibits it' situation. The problem I see with it, as worded is that it would require you to disclose past services within 6 months. However, if you had promised the prior client you would not disclose, that puts you in conflict. Turning down the assignment would be the only other option. I don't believe I agree with the ASB logic in proposing this rule.
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Steve Owen - Certified General
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Re: ASB Issues 2nd Exposure Draft on Revisions to USPAP
by Ter Shields on Sun Mar 01, 2009 11:52 pm
That's been changed to THREE YEARS...jeez. I have appraised some properties 4 times in 3 years....I have one that I appraise annually for an estate. How stupid is that?
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Ter Shields - Certified General
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