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.
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