State of Alaska Division of Legislative Audit

08-20106-17

November 09, 2017
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SUMMARY OF:

A Sunset Review of the Department of Commerce,

Community, and Economic Development,

Board of Certified Real Estate Appraisers

Why DLA Performed This Audit

The purpose of the audit was to determine if there is a need for the board’s continued existence and whether its termination date should be extended. The board is set to sunset June 30, 2018, and will have one year from that date to conclude its administrative operations.

Report Conclusions

The audit concludes the board is serving the public’s interest by certifying and licensing real estate appraisers. The board monitored certificate holders and licensees, and worked to ensure only qualified individuals were issued certificates and licenses in Alaska. Furthermore, the board developed and adopted regulations to comply with federal requirements, improve the real estate appraisal industry, and better protect the public.

In accordance with AS 08.03.010(c)(20), the board is scheduled to terminate on June 30, 2018. We recommend that the legislature extend the board’s termination date to June 30, 2026.

Findings and Recommendations

  1. Division of Corporations, Business, and Professional Licensing’s (DCBPL) director should continue to improve administrative support to the board.
  2. DCBPL’s director, in consultation with the board, should reduce fees to address the surplus.
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