STANDARD 2 outlines requirements for what aspect?

STANDARD 2 specifically addresses the requirements for appraisal report content, focusing on what information must be included in an appraisal report to ensure it is comprehensive, clear, and useful to the intended users. This standard provides guidelines on how appraisals should be documented, including the necessary elements such as purpose, scope of work, data analysis, conclusions, and any assumptions or limiting conditions that may affect the appraisal.

By adhering to these guidelines, appraisers can ensure that their reports convey the necessary information effectively, allowing clients and other users to understand the reasoning behind the appraiser's conclusions and the support for the value estimate. This emphasis on proper documentation and clarity is crucial in the appraisal process, as it helps protect both the appraiser and the client by providing a clear audit trail of the appraisal work conducted.