Which entity publishes Advisory Opinions and USPAP FAQs?

Which entity publishes Advisory Opinions and USPAP FAQs?

• A. AQB
• B. ASB
• C. AICPA
• D. FASB

Answer: (B)

Advisory Opinions and USPAP FAQs are published by the Appraisal Standards Board. This board, part of the Appraisal Foundation, is responsible for USPAP—the set of standards guiding professional appraisal practice. Advisory Opinions provide formal interpretations of USPAP when a practitioner needs clarity on applying a standard, and USPAP FAQs address common questions to help appraisers apply the standards consistently. The other organizations mentioned play different roles: AQB sets appraisal qualifications, while AICPA and FASB focus on accounting standards.

Advisory Opinions and USPAP FAQs are published by the Appraisal Standards Board. This board, part of the Appraisal Foundation, is responsible for USPAP—the set of standards guiding professional appraisal practice. Advisory Opinions provide formal interpretations of USPAP when a practitioner needs clarity on applying a standard, and USPAP FAQs address common questions to help appraisers apply the standards consistently. The other organizations mentioned play different roles: AQB sets appraisal qualifications, while AICPA and FASB focus on accounting standards.