RICS Knowledgebase

VPS 4 of the Red Book Global Standards 2025 at 3.5 states

 
3.5 To maintain a proper audit trail and be in a position to respond effectively to a future
enquiry, legible notes (which may include photographs or other images) of the findings
and, particularly, the limits of inspection and the circumstances in which it was carried out
must be made. The notes should also include a record of the key inputs and all calculations,
investigations and analyses considered when arriving at the valuation

Questions do get asked if these have to be handed over in their entirety to a client (rather than to e.g. an arbitrator or the RICS in the event of an investigation). The RICS cannot answer that question as it depends on a combination of the Terms of Engagement with client (and any other party like valuation panel manager), Regulatory climate, legislation of the country concerned etc.

#Valuation