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Governance - All services are governed locally, regionally and nationally by designated members of the Appraisal Institute®. All valuation and evaluation services are conducted in accordance with the Uniform Standards of Professional Appraisal Practice as promulgated from time to time by the Appraisal Foundation® as well as all regulatory requirements of government and supplemental standards that may be required by the client in appropriate consideration of the assignment. Additionally, all services are conducted in accordance with the Standards of Professional Practice and Code of Professional Ethics of the Appraisal Institute®.
Highly qualified and geographically competent valuation service professionals are elected to provide oversight and independent intermediary services directly to clients and appraisers where issues are identified that require such oversight. All members, appraisers and clients, agree as part of their membership to submit to such oversight.
The purpose of governance is to ensure that clients receive the services they contract for and that appraisers provide those services in a timely, cost effective manner consistent with the agreement for services in each case and that appraiser independence and integrity are not compromised at any level of the service process.