The American Society of Cost Segregation Professionals
The American Society of Cost Segregation Professionals (ASCSP) has been established as a non-profit corporation in response to the growing need for education, credentials, technical standards and a Code of Ethics within the cost segregation industry.
Membership will be open to all individuals that meet the standards currently set by ASCSP. The Society is headquartered in Washington, DC.
The ASCSP was created to provide organizational oversight on an industry where there was none.
The ASCSP’s goal is to provide its members with educational programs and continuing education programs; create and maintain minimum quality standards, and provide a Code of Ethics.
ASCSP will establish, monitor and upgrade (as needed) these programs and standards for the industry through the implementation of certification and training.
Additionally, ASCSP will openly solicit and accept input in order to establish the standards by which cost segregation reports will meet the “Principal Elements of a Quality Cost Segregation Study and Report” as delineated in the Audit Techniques Guide for Cost Segregation Studies promulgated by the taxing authority.ASCSP has been formed with the goal of establishing a measurable standard by which cost segregation consultants can be evaluated both from a business practice standpoint as well as actual quality of deliverables.
ASCSP has developed or is currently developing the following:
- Levels of credentials for individuals based on education and actual cost segregation experience;
- Development of approved cost segregation protocols and report formats;
- On-going training, education and certification procedures for cost segregation consultants;
- Code of ethics for cost segregation consultants;
- Mechanism for enforcement (i.e. de-certification) of non-compliant members;
- Public awareness of ASCSP standards to help taxpayers and their advisors make informed decisions;
- Relationship to serve as an intermediary for the cost segregation industry to promote best practices and provide ongoing refinement of scope and protocols consistent with regulatory developments.