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Welcome to another
edition of the ACA
Appraiser's Update.
USPAP's Jurisdictional Exception Rule should be well known to the
appraiser, but that there is only one known example of a jurisdictional
exception will probably surprise you. Read below what Bill recently
discovered.
This month's USPAP
Q&A addresses an issue faced by all appraisers-the disposal of
assignment workfiles. As you will learn, whatever method is used must
maintain the appraiser's USPAP obligations regarding confidentiality.
What appraiser has not called upon another for assistance? We all have. USPAP sets forth requirements for some, but not all, scenarios typically encountered by the personal property appraiser making use of assistance by otheres. That assistance might be provided by appraisers or by non-appraisers such as experts and consultants. Dave's below paper entitled "When Assistance is Provided by Others" provides an in-depth look at USPAP obligations applicable to both the primary appraiser as well as to those appraisers providing assistance with an assignment.
 Sincerely,
Dave Maloney and
Bill Novotny
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Only ONE Jurisdictional Exception?!
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USPAP's
Jurisdictional Exception Rule is an integral part of USPAP, but there
appears to be only one known example of a jurisdictional exception.
 USPAP's JURISDICTIONAL
EXCEPTION RULE is intended to address assignment conditions in which
there is a conflict between USPAP requirements and the requirements of
federal, state or local jurisdictions. Such conflicts preclude
appraisers from complying with those conflicting parts of USPAP. In this
article Bill briefly reviews the RULE, provides an example of
how it is typically misapplied, and reviews the only known example of a
jurisdictional exception.
Bill came across this sole example of a jurisdictional exception during
the recent re-certification process he underwent in order to renew his
qualification as an AQB Certified USPAP Instructor for 2010-2011. That
there is only one known example of a jurisdictional exception came as a
surprise...read all
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USPAP Q & A - Disposing of Workfiles
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 Does USPAP dictate methods by which
workfiles must be disposed? The answer focuses on
"confidentiality."
Question:
I am aware of and comply with the workfile retention requirements in
the Record Keeping section of the ETHICS RULE in USPAP. However, once
the required retention period has passed, does USPAP dictate a method I
must employ to dispose of the workfiles?
Response:
No. USPAP does not dictate a particular method for disposal of
workfiles. However, because there are no provisions in USPAP for
termination of the appraiser-client relationship and the appraiser's
confidentiality obligations, appraisers must ensure that they do not
violate the Confidentiality section of the ETHICS RULE even when
disposing of workfiles.
This means that appraisers must be certain that whatever method they
employ to dispose of workfiles does not allow for the unauthorized
communication of assignment results or confidential information (both,
as defined in USPAP) in the disposal process.
Excerpted from USPAP Q&A, © The Appraisal Foundation
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When Assistance is Provided by Others
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USPAP sets forth requirements for
both the primary appraiser as well as for the assisting appraiser. Do
you know what those requirements are?
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Recently, The Appraisal Foundation's Appraisal Standards
Board (ASB) responded to a query submitted by my Appraisal Course
Associates partner, AQB-certified USPAP instructor, Bill Novotny. The original
issue in question focused on USPAP record keeping requirements
pertaining to appraisers who provide assistance with an assignment.
There clearly are such requirements for the primary appraiser who signs
the report's USPAP certification, but what obligations apply to the
assisting appraiser?
The initial query led to even more questions regarding USPAP
obligations pertaining to the primary appraiser as well as to the
individual providing the assistance. What if the individual providing
assistance is not an "appraiser?" If an appraiser,
what if the assistance provided was not "appraisal"
assistance? What if the assistance provided was not deemed "significant"?
This paper addresses these several questions and clarifies USPAP
obligations pertaining to assignments in which assistance is provided
by others...read all
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USPAP Changes for 2010-2011
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Stay current with
changes to USPAP
 Here is a free, 22-minute narrated video overview of the changes incorporated by the ASB into the new 2010-2011 edition of USPAP. The effective dates of the new USPAP are from January 1, 2010 through December 31, 2011. (Note that this brief review does not substitute for attending a course that is comparable to The Appraisal Foundation's 7-hour USPAP Update Course, an online version of which will soon be offered by Appraisal Course Associates.)
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Complete
ONLINE Appraisal Course
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 First and only
complete online course for the personal property appraiser
The online course
makes use of the latest in sophisticated university-level learning
management software to present a thorough and professionally-designed
learning experience complete with reading assignments, Flash video
reviews, a detailed online glossary, self-assessed testing, and, most
importantly, course material that is thoroughly integrated with USPAP -
a first in the profession...read all
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Appraising Personal Property: Principles & Methodology
- 3rd Ed.
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 Certified personal property
appraiser David J. Maloney, Jr. has published the 3rd edition of his
highly-acclaimed book entitled "Appraising Personal Property:
Principles & Methodology" (Appraisers Press, 550 pages,
softcover, 8 1/2 x 11, $68.85 + S&H).
This book is unique. There is no other book or course of instruction
that provides such a thorough grounding in the fundamentals of personal
property appraising. Written by veteran appraisal
course writer and instructor Dave Maloney in strict
conformance with the ethical and performance requirements of USPAP, this book teaches the appraisal theory, principles, practices, ethics, standards and
methodology associated with developing credible opinions, conclusions
and analyses. It also teaches how to report assignment results in a
competent and USPAP-compliant manner. And, as a fully-indexed reference
guide, you can quickly and easily find the appraisal-related
information you are seeking.
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