USPAP and The International Valuation Standards
While USPAP and the IVS aim at essentially the same goals, there remain significant differences between the two sets of standards. These differences result primarily from accumulated differences in appraisal methodology. In June, 2006, the International Valuation Standards Committee and the Appraisal Foundation jointly issued a memorandum of understanding, called the "Madison Agreement", in which they pledged to work together toward the goal of reconciling the differences between the two sets of standards.
Read more about this topic: Uniform Standards Of Professional Appraisal Practice
Famous quotes containing the word standards:
“That’s the great danger of sectarian opinions, they always accept the formulas of past events as useful for the measurement of future events and they never are, if you have high standards of accuracy.”
—John Dos Passos (1896–1970)