What is meant by scope of work?
According to USPAP, 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 results; and 3) Disclose the scope of work in the report. An appraiser must properly identify the problem to be solved in order to determine the appropriate scope of work. This means that appraisers have broad flexibility and significant responsibility in determining the appropriate scope of work for an appraisal, appraisal review, and appraisal consulting assignment. Prior to July 2006, scope of work was referred to via the concepts of a complete or a limited appraisal. A complete appraisal meant that all applicable approaches to value would be considered and potentially completed, and a limited appraisal meant only one approach would be completed. The appraiser and the client typically consulted with each other to determine which type of appraisal to complete. Eff
