Question

Which of the following is/are not procedural safeguards against bias? 

1. Acting in fraudulent manner 
2. Peer-review of valuation if needed 
3. Disclosure of prior association with client 
4. Disclosure of conflict of interest source 
 

• A. Only (2)
• B. Only (4)
• C. (2) and (4)
• D. (3) and (4)

Hint:

Procedural fairness relies on disclosure of interest, not peer review.

Answer 1

The Correct Option is A

Step 1: Safeguards aim.
To minimize bias and ensure fairness.

Step 2: Exclusion.
Peer review is a quality mechanism, not bias safeguard.

Step 3: Conclusion.
Thus, option (1) is correct.