Which of the following can be part of the scope of work in an appraisal review assignment?

In an appraisal review assignment, the scope of work can indeed encompass multiple elements, including checking the mathematical accuracy, determining regulatory compliance, and developing an opinion of value. Each of these components plays a vital role in the thoroughness and validity of the review process.

Checking the mathematical accuracy ensures that the calculations and financial analyses conducted in the original appraisal are correct. This step is crucial because errors in basic arithmetic can lead to significant misrepresentations of value.

Determining regulatory compliance involves assessing whether the original appraisal adheres to relevant laws, regulations, and professional standards. This ensures that the appraisal meets established guidelines and can therefore be relied upon by stakeholders, such as lenders or regulatory bodies.

Developing an opinion of value can also be part of an appraisal review. While the primary purpose may be to evaluate the quality and accuracy of another appraiser's work, an appraiser reviewer may also arrive at their own value conclusion based on the data and analyses reviewed.

Including all these elements within the scope of work highlights the comprehensive nature of the appraisal review process, allowing for a robust evaluation of the original appraisal’s credibility and accuracy. This holistic approach is essential for ensuring that all bases are covered, thereby protecting the interests of all parties involved.