The American Society of Appraisers (ASA) is an American
nonprofit
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
organization which serves as a professional affiliation of
appraisers of all disciplines. The organization is the largest multi-discipline, voluntary membership,
trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
representing and promoting their member
appraiser
An appraiser (from Latin ''appretiare'', "to value"), is a person that develops an opinion of the market value or other value of a product, most notably real estate.
The current definition of "appraiser" according to the Uniform Standards of Prof ...
s.
History
The organization was formally formed in 1952, after consolidation of two prior appraisal organizations, The American Society of Technical Appraisers (ASTA), and the Technical Valuation Society (TVS).
In 2017, the Society merged with National Association of Independent Fee Appraisers (NAIFA), bringing total membership to over 5,500 members in 75 countries.
The ASA is also one of the eight trade association appraisal groups that founded
The Appraisal Foundation
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraiser ...
.
Activities
The Society comprises appraisal review and management, business valuation,
gem
A gemstone (also called a fine gem, jewel, precious stone, or semiprecious stone) is a piece of mineral crystal which, in cut and polished form, is used to make jewelry or other adornments. However, certain rocks (such as lapis lazuli, opal, an ...
s and
jewelry
Jewellery ( UK) or jewelry ( U.S.) consists of decorative items worn for personal adornment, such as brooches, rings, necklaces, earrings, pendants, bracelets, and cufflinks. Jewellery may be attached to the body or the clothes. From a w ...
, machinery and technical specialties, personal property and
real property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or aff ...
. Candidates—who must have a low level four-year university degree or its equivalent—are eligible for the Accredited Senior Appraiser (ASA) designation after completing the following: five years of documented appraisal experience; testing in their field or specialty; the submission of two appraisal reports to the society's International Board of Examiners for review; successful completion of the Principles of Valuation education program; and successful completion of the 15-hour
Uniform Standards of Professional Appraisal Practice Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation Business valuation is a process and a set of proc ...
(USPAP) course with examination. A lesser level of designation—Accredited Member or AM—requires only two years of documented appraisal experience in addition to all of the other requirements. Both of these designations are entry level. They do not rise to the equivalent of a Masters or Phd. in finance, business or economics, though they do provide an educational floor of knowledge in these subjects.
Unlike a Masters education in finance from an accredited university, which requires a once in a lifetime payment, trade associations like the American Society of Appraisers require annual membership dues. In addition, in order to sustain its business model and cash flows, Voluntary Member Appraisers in the Society subject themselves to arbitrary mandatory re-accreditation process every five years. To re-certify they must provide proof of professional growth through continuing education, participation in society activities, and the completion of updated USPAP courses. Publishing articles in professional journals and valuation or specialty-related speaking engagements also provide Society's appraisers with re-certification credit. In addition, the organization will from time to time fractionalize, create and sell new credentials, which are a repeat and repackaging of old courses and concepts for these credentials under a new name.
See also
*
CBV Institute
The CBV Institute (french: L’Institut des CBV), formerly known as the Canadian Institute of Chartered Business Valuators (CICBV), is a Canadian business valuation organization. The CBV Institute is a not-for-profit valuation professional organi ...
*
American Institute of Certified Public Accountants (AICPA)
*
International Valuation Standards Council
The International Valuation Standards Council (IVSC) is an independent, not-for-profit, private sector standards organisation
A standards organization, standards body, standards developing organization (SDO), or standards setting organization ...
(IVSC)
References
External links
Official site
Professional associations based in the United States
Valuation professionals
Professional valuation organizations
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