The certification in a business or intangible asset appraisal report must NOT include a reference to what?

The correct choice emphasizes that the certification in a business or intangible asset appraisal report should not include a reference to the inspection of the subject property. This is because business and intangible asset appraisals typically do not involve physical inspections of the assets, unlike real estate appraisals. Instead, appraisals for these types of assets largely rely on financial records, market conditions, and other analytical methods to determine value. Including inspection references could be misleading or incorrect since the nature of the asset does not lend itself to a traditional inspection as you might find in real property appraisals.

The other elements mentioned, such as compliance with USPAP, biases of the appraiser, and the preparation of analysis are essential components of an appraisal report. Compliance with USPAP ensures that the appraisal adheres to recognized professional standards. Acknowledgment of any potential bias is also crucial for transparency and maintaining the integrity of the appraisal process. Moreover, the analysis preparation is integral to substantiating the appraiser's conclusions and findings. Thus, the assertion about inspection is the only aspect that should not be referenced in the report for business or intangible assets.