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Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP)

The Canadian Uniform Standards of Professional Appraisal Practice (“The Standards,” or CUSPAP) respects the expanding role of the valuation professional within the Appraisal Institute of Canada (AIC). 

Compliance with CUSPAP is compulsory when completing all types of Professional Services Assignments. Any assignment completed on or after April 1, 2026, including a retrospective assignment, must comply with CUSPAP 2026. 

How CUSPAP 2026 is Structured

  1. Definitions 
  2. Ethics Standard 
  3. Reporting Standard 
  4. Real Property Appraisal Standard 
  5. Review Standard 
  6. Consulting Standard 
  7. Reserve Fund Study Standard 
  8. Machinery and Equipment Appraisal Standard 
  9. Mass Appraisal Standard  

Each CUSPAP Standard consists of: 

Rules: The overarching requirement and provide minimum performance Standards.  

Comments: To clarify, interpret, explain and elaborate on the Rules. 

What’s new in CUSPAP 2026 

  1. Ethics Standard – Comments  
  • New: 5.5 Co-signing  
  • 5.8.3 – Clarification on electronic storage 
  • 5.9.5 – Photographing of a property and privacy  
  1. Reporting Standard – Comments 
  • 7.1.7 Drive-by or Desktop Report – All data must be less than 3 years old 
  • 7.1.12 Market Rent Report – Criteria moved from Practice Notes 2024 to CUSPAP 2026 
  • 7.12.3 and 7.12.4 – Non-member inspection has been removed 
  1. Real Property Appraisal Standard – Rules 
  • 8.2.14.i – “Offers” added 
  1. Real Property Appraisal Standard – Comments   
  • 9.14.1 – Agreement for sale, option or listing less than less than 1 year prior 
  • 9.14.2 – Sale less than 3 years prior 
  1. Consulting Standard 
  • 13.8 AVM Output Validation – Expanded direction on use of AI 
  • 13.9 Reproduction Cost New or Replacement Cost of Improvements – Expanded direction on developing an estimate of RCN or RC of improvements 
  1. Machinery and Equipment Appraisal Standard 
  • 17.1.3 and 17.1.4 – M&E Appraisal Report can be stand-alone 

THANK YOU TO OUR VOLUNTEERS

We extend our sincere thanks to the volunteers for their time and dedication in enhancing CUSPAP, and to our Francophone Members for their hard work in improving the French version, NUPPEC.

RESOURCES

CUSPAP 2024
CUSPAP 2026 (Effective April 1, 2026)

CODE OF CONDUCT

Two hallmarks of a respected and trusted self-regulated organization are the professional conduct and competence of its members.
 
Members of the Appraisal Institute of Canada (AIC) pledge to provide professional services and conduct themselves in a fair and unbiased manner that is not detrimental to the public, the AIC or its Members, or the real property appraisal profession.
 
Members’ professional interactions with other Members, the AIC, and the public shall be governed by courtesy, impartiality, and good faith.
 
When providing professional services, Members will comply with AIC By-laws, AIC Consolidated Regulations, and AIC Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP).