Who is responsible for determining the effective date of each edition of USPAP?

The Appraisal Standards Board (ASB) is responsible for determining the effective date of each edition of the Uniform Standards of Professional Appraisal Practice (USPAP). This organization, part of The Appraisal Foundation, is tasked with creating and updating the standards that guide appraisers in their professional conduct. By establishing the effective dates, the ASB ensures that appraisers have a clear understanding of when they are required to implement the new standards and concepts introduced in each edition of USPAP. This task is crucial for maintaining consistency and providing the appraisal profession with updated guidelines that reflect current practices and market conditions.