What does the ASB do?

(Cited from www.appraisalfoundation.org)
The ASB, an independent board of The Appraisal foundation, writes, amends, and interprets USPAP.

The ASB is composed of up to seven appraisers appointed by the Foundation's Board of Trustees. The ASB holds public meetings throughout the year to interpret and amend USPAP.

In order to help inform Appraisers and others about changes in USPAP each year, the ASB participates in annual USPAP Updates for Instructors and Regulators. In addition, the ASB solicits and accepts many speaking engagements. The staff of the Appraisal Foundation assists the ASB.

What is USPAP?

The Uniform Standards of Professional Appraisal Practice (USPAP) is the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services. Standards are included for real estate, personal property, business and mass appraisal.

USPAP was originally written in 1986-1987 by an appraisal profession Ad Hoc Committee on Uniform Standards and was donated to The Appraisal Foundation in 1987.
The Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) of 1989 cite USPAP as the standards to be enforced by state real estate appraiser licensing agencies.

USPAP compliance is also required by professional appraisal associations, client groups and by dozens of federal, state and local agencies.

USPAP is released on an annual basis. Regulators base enforcement decisions on the edition of USPAP in effect as of the date of an appraisal report.

USPAP is growing in acceptance throughout the world. Many professional associations in Central and South America, Europe and Asia have accepted and adopted USPAP as the standard of practice for their membership.

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 USPA compliance by real property appraisers. Professional appraisal organizations also have legal authority to enforce USPAP compliance by their members. In addition, many clients and client groups have adopted USPAP and require employee and contract appraiser compliance.

Complaints regarding a real property appraiser should be directed to the state(s) in which he or she is licensed or certified. Complaints about an appraiser of any specialty should be forwarded to the professional association of which the appraiser belongs.

A Summary

USPAP...
contains the Standards of Practice for all appraisal disciplines (real estate, personal property, business and mass appraisal);
is written, interpreted and amended by the ASB;
is enforced by regulatory agencies, professional appraisal associations and client groups; and is released on an annual basis.

THE ASB...
is an independent board of The Appraisal Foundation composed of up to seven appraisers?
speaks to and corresponds with hundreds of appraisers and other interested parties each year;
is assisted by a professional staff in Washington, DC;
participates in annual sessions to update instructors, clients, regulators, appraisers and others on USPAP revisions.