An appraiser must perform assignments ethically and competently, in accordance with Canadian Personal Property Appraisers Group supplemental standards.
An appraiser must perform assignments with impartiality, objectivity, and independence, and without accommodation of personal interest.
Appraisal assignments cannot be contingent on reporting of a predetermined result or a direction in assignment results that favors the cause of the client.
The payment of undisclosed fees, commissions, or things of value in connection with the procurement of an assignment is unethical.
An appraiser must not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorized by the client.
An appraiser must prepare a work file for each appraisal, appraisal review, or appraisal consulting assignment.
The file must contain data, information, and documentation necessary to support the appraiser’s opinion and conclusions and show compliance with the Canadian Personal Property Appraisers Group rules and standards.
An appraiser must retain the work file for at least 5 years after preparation or at least 2 years after final disposition of any judicial proceedings.
Prior to accepting an assignment (and if discovered at any time during the assignment), an appraiser must disclose to the client and in the report certification; any services regarding the subject property performed by the appraiser within the prior 3 years, as an appraiser or in any other capacity.