MONTHLY ASCSP CODE SPOTLIGHT- February 2015
“ASCSP Members shall not make false or misleading representations with regard to any business practice“.
Article 2. Obligations to the Public 2.10
Ethic Committee Comments:
Examples of Members making false or misleading representations can include:
Stating that “Your company is a Member of the ASCSP”. Only individuals are members of the ASCSP; companies cannot be members.
Suggesting that the ASCSP “Endorses your company’s approach to cost segregation”. While the ASCSP has issued Minimum Quality Standards; the ASCSP does not endorse any specific report format or approach to cost segregation.
MONTHLY ASCSP CODE SPOTLIGHT- March/April 2015
Article 2. Obligations to the Public
2.3 ASCSP Members will develop reports that will comply with the ASCSP Minimum Quality Standards.
The Minimum Quality Standards originally developed in 2006 and updated since, serve to assist cost segregation professionals in defining standard commercial and customary practices for conducting a Cost Segregation Study and provide an in-depth description of the Principal Elements of a Cost Segregation Report as outlined in the IRS Cost Segregation Audit Technique Guide (ATG). The Standards are free to all Members and should be reviewed frequently to ensure your reports meet the standards outlined in this guide.