In the context of reporting the scope of work, what must an appraisal or appraisal review report include?

The requirement for an appraisal or appraisal review report to include sufficient details for user understanding is essential for several reasons. The primary function of the report is to communicate findings clearly to its intended audience, which may include clients, stakeholders, or other interested parties. By providing sufficient details, the report enables users to grasp the rationale behind the appraiser's conclusions, the methodologies employed, and the relevance of the data presented.

Including sufficient details enhances transparency, allowing users to understand the process and reasoning leading to the final appraisal value or findings. It ensures that the report is not only informative but also defensible if challenged. Clear explanations of the analysis and evidence lend credibility to the report, fostering trust in the appraiser's work.

While graphs and charts can be helpful in illustrating findings, they are not mandatory components of the report. Similarly, a signature may be required for authentication purposes, but it does not contribute to the report's content in a way that enhances understanding. Comparative market analysis, while a useful tool in many appraisals, is not a universal requirement for all reports.