RESTON, Va., Sept. 19, 2016 /PRNewswire/ -- The American Society of Appraisers (ASA) reports that trends towards increased regulation, scrutiny, lawsuits and penalties are forcing valuation professionals from all disciplines to take a serious look at how they conduct business.
Real estate appraisers in particular are taking the brunt of complaints, because the Appraisal Subcommittee (ASC) is pushing state regulators to enforce requirements on continuing education as well as Uniform Standards of Professional Appraisal Practice (USPAP).
Then there is the Dodd Frank Act, which MANDATES that a user file a complaint with the license board if that user is dissatisfied with an appraisal report. If the appraiser is found to have violated USPAP or a state statute, then that appraiser may be liable for civil negligence.
Add to that business valuers, machinery and equipment appraisers and general personal property appraisers are under serious scrutiny by the IRS, including increased fines, penalties and potential disbarment, meaning being barred from performing appraisals for tax related matters.
You can also factor in civil lawsuits against appraisers for negligence in performing valuations. Most appraisers have never been critiqued. Hence they continue to make systemic mistakes believing that what they learned, were taught or have practiced is correct. Some find out the hard way when faced with a charge of negligence.
ASA has been on the forefront of these trends and offers its Appraisal Review and Management program to help valuation professionals reduce such risks. Upcoming classes include:
- AR204 - Appraisal Review and Management Overview, 10/20-23/16, Emeryville, CA
- AR201 - Appraisal Review and Management Overview, 11/3-6/16, Chicago, IL
- AR204 - Appraisal Review and Management Overview, 1/12-15/17, Las Vegas, NV
- AR201 - Appraisal Review and Management Overview, 5/4-7/17, Herndon, VA
- AR204 - Appraisal Review and Management Overview, 6/8-11/17, Chicago, IL
ASA welcomes members from other organizations and offers a pathway to becoming an Accredited Senior Appraiser, along with the option to earning a specialty designation in Appraisal Review and Management through its Professional Education Equivalency Certification Program (PEECP).
To register or for more information visit www.appraisers.org or call (800) 272-8258.
American Society of Appraisers
The American Society of Appraisers is a world renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA is devoted to providing the highest possible standards in all areas of ethics, professionalism, education and designation criteria. For more information about the American Society of Appraisers, the ASA designation program for appraisers or the Society's free "Find an Appraiser" Referral System, visit www.appraisers.org or call (800) 272-8258.
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SOURCE American Society of Appraisers