Who is responsible for developing, amending, and interpreting USPAP?

The Appraisal Standards Board (ASB) is the entity responsible for developing, amending, and interpreting the Uniform Standards of Professional Appraisal Practice (USPAP). The ASB operates under the umbrella of the Appraisal Foundation, which is a nonprofit organization dedicated to the advancement of professional appraisals and the setting of standards for appraisers.

The ASB takes on this significant role by researching, reviewing, and establishing standards that guide appraisers in their professional conduct, ensuring consistency and credibility throughout the profession. The guidelines and standards established by the ASB are crucial for maintaining high-quality appraisal practices and protecting the interests of the public.

While the other boards mentioned may have important roles related to appraisals, such as conducting research, issuing best practices, setting qualifications for appraisers, or overseeing state regulatory matters, they do not carry the primary responsibility for the development and interpretation of USPAP. This distinction is what makes the ASB the correct answer in this context.