CPA’s• The American Institute of Certified Public Accountants (AICPA)

and its predecessors have a history dating back to 1887, when the American Association of Public Accountants (AAPA) was formed. In 1916, the American Association was succeeded by the Institute of Public Accountants, when there was a membership of 1,150. The name was changed to the American Institute of Accountants in 1917 and remained so until 1957, when it changed to its current name of the American Institute of Certified Public Accountants. The American Society of Certified Public Accountants was formed in 1921 and acted as a federation of state societies. The Society was merged into the Institute in 1936 and, at that time, the Institute agreed to restrict its future members to CPAs.

• It has a membership of approximately 385,000

AMERICAN BAR ASSOCIATION

• On August 21, 1878, seventy-five lawyers from twenty states and the District of Columbia met in Saratoga Springs, New York, to establish the American Bar Association. Since that first meeting, the ABA has played a formative role in the development of the profession of law in the United States.

• It currently has approximately 400,000 members

10

U.S. Appraiser Population As of June 30, 2013

As of June 30, 2013, the total number of real estate appraiser licenses/certifications decreased 0.6 percent from year-end 2012. Comparatively, the actual number of active appraisers in the U.S. decreased 1.4 percent for the same period. As of 2013, the actual number of appraisers decreased by 16.5 percent from the peak 2007 level.

AI MembershipAs of June 30, 2013

Counts rounded.

As of June 30, 2013, the Appraisal Institute has nearly 400 Designated members and Candidates for designation in more than 60 countries outside the U.S. The breakdown is 231 Designated members who hold 1 or more Appraisal Institute designations and 160 Candidates for designation.

ROYAL INSTITUTION OF CHARTERED SURVEYORS(RICS)

Per the U.S. Headquarters in New York, more than 500 MAI’s have obtained their RICS

designation (MRICS, FRICS)

International Valuation Standards Council(IVSC)

• The IVSC is a membership organization and is open to a wide range of stakeholders including professional institutes, valuation providers, standard setters, regulators of valuation services and academia. Members are provided with a forum for participation in the work of the IVSC which can advise the Boards on agenda priorities. The IVSC currently has 74 member bodies from 54 countries

TEGoVA

The European Group of Valuers' Associations, is a European non profit making association composed of 53 valuers' associations from 30 countries representing about 70,000 valuers in Europe.

Valuers Global Forum (VGF)

The Valuers Global Forum, an organization comprised of leading valuers from around the world. The purpose of the Forum, which was established by the Board of Trustees of The Appraisal Foundation, is:

• To create opportunities for representatives from many countries to dialogue concerning notable issues and solutions that impact the valuation profession around the globe;

• To create initiatives that will advance the valuation profession in development, credibility and influence around the world;

• To provide an information portal for The Appraisal Foundation and the international valuation community relative to international activities and occurrences within the valuation profession.

International Property Management Standards Coalition On May 2nd, a group of professional organizations met at the World Bank to work toward formulating a uniform professional standard for property measurement on a worldwide basis. The following 20 members having signed the Declaration:

Australian Property Institute (API)The Appraisal Foundation (TAF)Appraisal Institute (AI)Asia-Pacific Real Estate Association (APREA)Asociacion Professional de Sociedades de Valoracion (ATASA)American Society of Farm Managers and Rural Appraisers (ASFMRA)ASTM InternationalBuilding Owners and Managers Association (BOMA)China Institute of Real Estate Appraisers and Agents (CIREA)CoreNet GlobalCouncil of European Geodetic Surveyors (CLGE)Commonwealth Association of Surveying and Land Economy (CASLE)International Consortium of Real Estate Associations (ICREA)International Federation of Surveyors (FIG)International Monetary Fund (IMF)International Real Estate Federation (FIABCI)Property Council of Australia (PCA)Royal Institution of Chartered Surveyors (RICS)Open Standards Consortium for Real Estate (OSCRE)South African Property Owners Association (SAPOA)

IFRS (International Financial Reporting Standards)

r13 Fair Value Measurement applies to IFRSs that require or permit fair value measurements or disclosures and provides a single IFRS framework for measuring fair value and requires disclosures about fair value measurement. The Standard defines fair value on the basis of an 'exit price' notion and uses a 'fair value hierarchy', which results in a market-based, rather than entity-specific, measurement.

IFRS 13 was originally issued in May 2011 and applies to annual periods beginning on or after 1 January 2013.

Alliance for Valuation Education(AVE)

The Appraisal Foundation (TAF) and its Sponsoring Organizations have formed a

national education partnership, the Alliance for Valuation Education (AVE), an

organization dedicated to providing greater availability of consistent, quality valuation

education. The AVE will be composed of TAF and 11 of its Sponsoring Organizations

(Alliance Sponsors).

WHERE IS ALL OF THIS GOING?

STARDATE 2053• The Alliance of Professional Valuation

Organizations (APVO) announces the retirement of long time member and past national president of the Appraisal Institute Rick Borges, after 75 years of service.

• Rick was president of AI in 2013 and retired briefly in 2028 but quickly returned to the profession after his wife, Lavonne, also an appraiser, told him she didn’t want him “just hanging around”

• His re-entrance into the profession was extremely fortuitous. Rick immediately headed up a committee to battle the increasingly restrictive valuation guidelines imposed by UGLC ( Universe’s Giant Lending Consortium) (UHGLICK)

• UGLC controlled all institutional lending for all property types throughout the galaxy and was hampering valuation professionals in their ability to perform ethical and competent valuations.

• At the hearing before the Council of Interstellar Financial Guardians, his quote of “I’ll be damned if I’m going to restrict my comparables to the same planet or keep them within one light year of the date of valuation simply because UGLC says so” turned the tide in favor of our profession.

• His impassioned defense of valuation professionals in all fields was the tipping point in the hearings that resulted in a dramatic overhaul of UGLC and the elimination of its choke hold over the valuation profession.

• It was truly eventful night with many other luminaries from all of the valuation disciplines honored for their hard work and contributions to the valuation profession.

• Following the awards ceremony the 10,000 attendees were treated to the superb musical musings of Fred Grubbe and his Jazz Junkies, until the early morning hours when the sun came up over all of Jupiter’s 66 moons.

THANKS VERY MUCH

ANY QUESTIONS?