Brief History & Role
The Appraisal Institute of Canada (AIC) is a leading real property valuation association with over 5,000 members across Canada and around the world. Established in 1938, the AIC works collaboratively with its 10 provincial affiliated associations to grant the distinguished Accredited Appraiser Canadian Institute (AACI™) and Canadian Residential Appraiser (CRA™) designations.
The AIC is a self-regulating organization that is guided by a Code of Conduct and Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) to ensure that our members:
• Maintain the highest level of integrity and professionalism;
• Engage in conduct that will instill confidence and protect the public interest;
• Provide quality services within their areas of competence; and,
• Commit themselves to principles that reflect high standards of professionalism.
AIC Designated Members are highly qualified, respected professionals who undertake comprehensive curriculum, experience and examination requirements. They are committed to ongoing continuing professional development to maintain the highest level of competency within an evolving marketplace. Our members provide unbiased appraisal, review, consulting and reserve fund planning services on all types of properties within their areas of competence.
Mission
AIC's mission is to promote and support our members in providing high quality property advisory services for the benefit of clients, employers, and the public.
Principal Areas of Policy
AIC's 2015-18 strategic plan focuses on four key result areas:
• A Vibrant and Engaged Membership
• Strengthen the AIC through the implementation of effective recruitment and retention strategies
• Advocacy on Behalf of the Membership
• Be the leading voice for the appraisal profession
• Diversification of the Appraisal Professional's Value Proposition
• Facilitate efforts for members to strengthen and diversify their skills sets to seek expanded markets
• Recognition of AIC Members as Professional of Choice
• Promote AIC members and the full range of valuation services they offer
Principal Activities
AIC's key activity areas are as follows:
• Marketing and Communication
• Admissions and Accreditation
• Professional Practice
• Administration and Operations
Each of these areas produces annual operational plans / budgets in support of the objectives and goals outlined in the AIC Strategic Plan.
Organisation
The current AIC (National) Board of Directors includes fourteen (14) directors - every Canadian province elects at least one Director to the Board. Larger provinces (in membership numbers) such as BC, Alberta and Ontario elect more than one representative to the Board. The AIC National Office has twelve (12) full time staff.
In addition, AIC has affiliated provincial organizations in each of the ten (10) Canadian provinces. Each of these organizations is an independently incorporated not-for-profit association; each elects its own Board of Directors, establishes and maintains its own budgets and plans.
The AIC and the provincial affiliates have signed agreements outlining the respective responsibilities of both organizations.
Membership
Membership levels have remained relatively stable over the last 5 - 10 years; in the last two or three years some modest growth has been noted. Members belong both to the National organization and to their respective Provincial affiliate. Designated members - holding an AACI or CRA designation - are entitled to vote; Candidate members are not entitled to vote.
Publications
AIC Publishes Canadian Property Valuation magazine on a quarterly basis and also produces various publications (Guides to the Appraisal Process etc.) from time to time. All publications are available for free download at www.aicanada.ca.
Other
AIC maintains a professional liability insurance program for all members. The program has been in place for nearly 25 years and is mandatory; in other words, all members must participate and no member can be denied coverage. The program provides $2.0 Million (CDN) of professional liability coverage for all work (as defined by CUSPAP) completed by members. The program is a significant benefit for members and helps to stabilize membership numbers for the AIC.