The Appraisal Institute of Canada and its members are guided by a number of key principles, regulations, and standards. AIC members conduct themselves in accordance with these principles. When dealing with AIC members, clients and homeowners may do so confidently and with the assurance that these principles are in place to protect the public.
The Mission of the Appraisal Institute of Canada is:
- To promote and support our members in providing high quality property advisory services for the benefit of clients, employers, and the public.
Code of Professional Conduct
Code of Ethics
Members of the Appraisal Institute of Canada shall commit themselves to principles that reflect high standards of professionalism.
Members shall engage in conduct that will enhance their professional status, the reputation of the Institute, the profession and the confidence and interest of the public.
This public interest will be served by members acting responsibly, impartially, objectively, and with independent judgment. Members shall provide quality services within their areas of competence, and in compliance with the Standards of the Institute.
Honesty, integrity, fairness and respect are cornerstones of confidence and trust. The Institute recognizes that compliance with our Ethical Standards is our contract with the public we serve.
The Appraisal Institute of Canada Bylaws set out the rules of the Institute as approved by the Board of Directors and approved by Industry Canada.
- AIC Bylaws (as approved at the June 4, 2010 AGM & approved by Industry Canada Aug 3/10)
Consolidated Regulations of the Appraisal Institute of Canada
The Consolidated Regulations of the Appraisal Institute of Canada is the primary document that contains the policies and procedures governing AIC policies such as admission, education, experience & designations. It also defines the role and relationship between the Institute and the provincial associations and affiliations, professional practice, and the Institute’s liability insurance subsidiary.
Regulations are established and can be amended or repealed by the Board of Directors of the Institute. In accordance with the AIC Bylaws, proposed amendments are circulated to the Provincial Association offices at least thirty days prior to the Board meeting at which the amendments are considered and voted upon.
Canadian Standards of Professional Appraisal Practice (CUSPAP)
The Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), first introduced in January 2001, respects the expanding role of the valuation professional within the Appraisal Institute of Canada. The Standards meet the sponsor criteria of the Appraisal Foundation in their international membership category, and endorse International Valuation Standards as an authority promoting world-wide acceptance of standards for property valuation.
August 24 2012