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Article 12
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To draw a conclusion of its opinion, an expert shall evaluate by the applicable circumstances whether each of the following complies with relevant regulations in order to examine the degree of consistency and reliability between the work executed and the opinion:
- whether the opinion fully reflects the scope of work which should be covered by the engagement.
- completion, correctness, and reasonableness of the operation procedures.
- adequacy and relevance of the information used and examinations, inquiries, calculations, or other necessary analyses conducted.
- relevance and reasonableness of material assumptions made.
- appropriateness and reasonableness of the method of appraisal or valuation employed and parameters used.
- pre-adjustment value and reasons, basis, relevance and appropriateness of any adjustment to a discount or premium.
- appropriateness and reasonableness of analysis, judgement, inference procedures, and conclusions conducted or reached, and whether they can be substantiated.
- reasonableness of a revision to a conclusion made upon an explanation with the principal or an approved related party prior to the issuance of an opinion.
- completeness of the contents of a working paper, the appropriateness and reasonableness of raw data used, and the degree to which the expert supports the opinion.
- whether any material subsequent events and their impact which exist after the record date of evaluation and before the issuance of the opinion have been appropriately addressed.
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