USPAP EXPOSURE DRAFT 2 LETTER
Today is the deadline: MIDNIGHT
If you have responded to the ASB concerning the new USPAP for 2012-2013, I thank you for your proactive involvement in the profession.
If you have not. In as brief a fashion as I can, I'll tell you it is very bad.
It will mean more work for you, incorporates a new way to get comp checks and APOs without calling them reports and without benefit of an engagement letter, and hiding the fact by not calling it a report.
More confusion for the industry.
Has zero concern for public trust.
Will increase your costs to produce an appraisal and your liabilities.
Further convolutes the process and practice of appraising leaving gaping holes that you will be liable for, which probably will impact your E&O insurance.
Please sign the letter we have prepared or send your own letter tonight.
Sign the letter at the below link, or write your own.
(Via Michael Imes)