Question:

In order to satisfy the Record Keeping section of the ETHICS RULE, must an appraiser retain a complete photocopy of the finished appraisal report that was sent to the client?

Response:

The workfile must contain a “true copy” of the report. A photocopy or an electronic copy of the entire signed appraisal report that was sent or delivered to a client satisfies the USPAP requirement of a true copy.