Ethics and the Appraiser
- Topics:
- Appraisal
- Tags:
- Appraisal,
- Business Ethics,
- Chet Boddy,
- Ethics,
- Leadership,
- Management,
- USPAP
- Source:
- Chet Boddy
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Overview: The article is about the ethics and the appraiser. It explains the responsibility of appraisers that they must perform their assignments with impartiality, objectivity, and independence, and without accommodating any personal interests. It discusses the significant event in the history of the appraisal profession that has been the development of the Uniform Standards of Appraisal Practice (USPAP) mandated by FIRREA. These are strict guidelines, updated annually, which address professional appraisal standards, competency, and ethics. USPAP has been adopted throughout the United States and is fast becoming the professional standard for appraisers throughout the world. Appraisers who engage in fraud or unethical practice in violation of USPAP are now losing their licenses, getting stiff fines and even going to jail. Most appraisers who get in trouble say they are simply doing what their clients have always asked them to do. However, the burden of proof is now clearly on the appraiser – not the client – about accepting assignments, which may violate professional and ethical standards. Read the article to get the details of the performances and responsibilities of appraisers.
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Format: HTML | Date: Jan 2003 | Pages: 1
