The Appraisal Standards Board (ASB) has released the Second Exposure Draft for proposed changes to the 2016-2017 Uniform Standards for Professional Appraisal Practice (USPAP). The scheduled revisions include: Defining the term “report” Edits to eliminate confusion regarding report drafts Revisions to Standard 3 to enhance consistency with other standards and clarify dates identified and reported Edits to el ...

According to Tax Court decisions Part 2 of this article examines the remaining eight most common mistakes made in valuation, based on U.S. Tax Court decisions. Court rulings may be right or wrong, but without taking sides, this article confirms the truism that experience is the best teacher. . ...

According to Tax Court decisions Part 1 of this article examines eight of the 16 most common mistakes made in business valuation reports according to U.S. Tax Court decisions. Business valuation textbooks, training manuals, and conference presentations may do a good job of teaching the right ways to conduct valuations. But in some respects, the most authoritative teacher of what is right and, just as import ...

There Are Different Standards. They Have Different Places in Various Appraisals. Here’s Why. Jim Hitchner considers various responses to the query:  “When valuing an operating company, is it necessary to mention USPAP in addition to SSVS 1 when talking about the standards adhered to?”  Good question. There were lots of answers from various valuators in a recent discussion.  Here’s Jim’s take on it all. ...

Arizona Board of Appraisal Dismisses USPAP Complaint Filed by Chase   On August 10, the Appraiser’s Guild blog reports, the Arizona Board of Appraisal dismissed the USPAP violation complaint filed by Chase Bank against John Dingeman on initial file review: ...