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USPAP is updated on a biennial cycle by the Appraisal Standards Board to reflect evolving appraisal practices. Appraisers must always use the current edition to ensure compliance.

Standard 7 governs the development of personal property appraisals, while Standard 8 governs their reporting.

The Appraisal Standards Board (ASB) publishes Advisory Opinions to illustrate USPAP application.

The Definitions section clarifies technical terms like “Extraordinary Assumption” and “Hypothetical Condition” to ensure precise application.

Statements on Appraisal Standards were binding interpretations but have been retired, with their guidance incorporated into USPAP.