Which statement about The Appraisal Foundation's authority regarding USPAP is true?

The Appraisal Foundation does not have the authority to enforce the requirements of USPAP, which is accurate. While The Appraisal Foundation is responsible for developing and maintaining the Uniform Standards of Professional Appraisal Practice, it does not have enforcement powers. Enforcement of USPAP is typically handled by state appraisal boards and regulatory bodies that are empowered to take action against appraisers who fail to comply with the standards.

This distinction is important because it underscores the role of The Appraisal Foundation as a standards-setting organization rather than a regulatory one. While it provides guidance and develops the standards that appraisers should follow, it relies on external regulatory entities to address and penalize violations. This ensures that enforcement is conducted through established legal and administrative processes rather than through the Foundation itself.