ADVISORY OPINION 28 (AO-28)

This communication by the Appraisal Standards Board (ASB) does not establish new standards or interpret existing standards. Advisory Opinions are issued to illustrate the applicability of appraisal standards in specific situations and to offer advice from the ASB for the resolution of appraisal issues and problems.

SUBJECT: Scope of Work Decision, Performance, and Disclosure

APPLICATION: Real Property, Personal Property, Intangible Property

THE ISSUE:

The SCOPE OF WORK RULE states:

For each appraisal, appraisal review, and appraisal consulting assignment, an appraiser must:

1. identify the problem to be solved;

2. determine and perform the scope of work necessary to develop credible assignment results; and

3. disclose the scope of work in the report.

How are the requirements in the SCOPE OF WORK RULE incorporated into the process of developing and reporting assignment results?

ADVICE FROM THE ASB ON THE ISSUE:

Problem Identification

Determining and Performing the Scope of Work

Disclosing the Scope of Work Performed

Illustrations

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