FREQUENTLY ASKED QUESTIONS
6. COMPLYING with USPAP BY CHOICE
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Question:
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A client has asked me to develop an appraisal. I am not under any obligation by law, regulation, or by agreement with the client, to comply with USPAP for this particular assignment, but I would like to do so. Is this possible?
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Response:
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Yes, you can voluntarily choose to perform an assignment under USPAP. The PREAMBLE states:
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Compliance with USPAP is required when either the service or the appraiser is obligated to comply by law or regulation, or by agreement with the client or intended users. When not obligated, individuals may still choose to comply. (Bold added for emphasis)
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Refer to Advisory Opinion 21, USPAP Compliance for further guidance. |
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USPAP 2008–2009 Edition
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