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USPAP 2018-2019 Edition

© The Appraisal Foundation

62

STANDARD 10

Comment: A signed certification is an integral part of the appraisal report. An appraiser who signs any part of

the appraisal report, including a letter of transmittal, must also sign this certification.

In an assignment that includes only assignment results developed by the business and/or intangible

asset appraiser(s), any appraiser(s) who signs a certification accepts full responsibility for all elements of

the certification, for the assignment results, and for the contents of the appraisal report. In an assignment

that includes real property or personal property assignment results not developed by the business and/

or intangible asset appraiser(s), any business and/or intangible asset appraiser(s) who signs a certification

accepts full responsibility for the business and/or intangible asset elements of the certification, for the

business and/or intangible asset assignment results, and for the business and/or intangible asset contents of

the appraisal report.

When a signing appraiser(s) has relied on work done by appraisers and others who do not sign the

certification, the signing appraiser is responsible for the decision to rely on their work. The signing

appraiser(s) is required to have a reasonable basis for believing that those individuals performing the work

are competent. The signing appraiser(s) also must have no reason to doubt that the work of those individuals

is credible.

The names of individuals providing significant business and/or intangible asset appraisal assistance who

do not sign a certification must be stated in the certification. It is not required that the description of their

assistance be contained in the certification but disclosure of their assistance is required in accordance with

Standards Rule 10-2(a)(vii) or 10-2(b)(vii), as applicable.

106

STANDARDS RULE 10-4

To the extent that it is both possible and appropriate, an oral appraisal report for an interest in a business

enterprise or intangible asset must address the substantive matters set forth in Standards Rule 10-2(a).

Comment: See the RECORD KEEPING RULE for corresponding requirements.

106 See Advisory Opinion 31,

Assignments Involving More than One Appraiser

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