Which statement best reflects the importance of an appraisal review report?

An appraisal review report is primarily important for ensuring compliance with regulations, which relates to maintaining standards set by governing bodies and organizations within the appraisal profession. This aspect underscores the necessity of verification processes in appraisal work, confirming that appraisals adhere to accepted guidelines and are prepared by qualified individuals. Effective compliance contributes to the credibility and integrity of the appraisal profession overall.

While reviews can convey the reviewer's opinions on value, this is not their primary importance. The assertion that all appraisals are always accurate and need no reviews contradicts the fundamental nature of professional scrutiny and peer review in any field, including appraisal. Moreover, characterizing appraisal reviews as a redundant step overlooks their vital role in upholding quality and reliability in real estate assessments. Therefore, the emphasis on compliance accurately encapsulates the primary function of an appraisal review report.