In 2018, The Appraisal Foundation published A Bridge from USPAP to IVS. Targeted primarily to appraisers already familiar with USPAP, it’s an invaluable and concise resource for producing appraisals in compliance with International Valuation Standards (IVS). The introduction reminds readers that the standards are “more similar than different:” Many differences in the standards are superficial…Read More
Valuation Terms: Clarifying Purpose and Intended Use
Ever felt confused about the appraisal / valuation terms “purpose” and the “intended use”? Join the club! The difficulty is historical. The Uniform Standards of Professional Appraisal Practice (USPAP) officially re-purposed the turn “purpose” in the 2005 edition, explaining that Edits were made throughout the document [USPAP] regarding the term purpose, due to its varied…Read More