Which entity evaluates potential changes to USPAP to ensure they promote public trust?

The Appraisal Standards Board (ASB) is responsible for evaluating potential changes to the Uniform Standards of Professional Appraisal Practice (USPAP) to ensure that these changes promote public trust in the appraisal profession. The ASB is specifically tasked with establishing and maintaining high standards for appraisers, which includes considering input from various stakeholders, such as industry professionals and the public, when contemplating modifications to USPAP.

This commitment to public trust is foundational because USPAP is designed to provide a uniform set of standards that enhances credibility in the appraisal process. The ASB continually reviews the standards to address evolving industry practices and challenges, ensuring that appraisals maintain integrity and are conducted ethically and competently.

Other entities mentioned, such as the National Association of Realtors, the Appraisal Institute, and the Federal Housing Administration, play significant roles in their respective fields but do not have the same official mandate as the ASB regarding the development and evaluation of USPAP. These organizations may influence appraisal practices and policies but do not directly handle the evaluation of potential USPAP changes or the promotion of public trust in the same way that the ASB does.