The report’s correctness and reliability depends on the availability of highly qualified experts, the careful selection of these experts for the specific proceedings, and an appropriate level of monitoring by all participants in the proceedings.
An expert report is a well-founded opinion formed by an expert regarding uncertain points. It contains presentations of empirical judgements, and derivations of consequences for the actual judgement of an event or circumstance, given by one or more experts.
However, an “expert report” must be differentiated from an “expert opinion”, although the two are often (mistakenly) used interchangeably in the vernacular of business transactions. Unlike an expert report, an expert opinion can concentrate on the key issues of the judgement without having to precisely document the findings of the results, nor how they came about. In an expert opinion—whether oral or written—one can concentrate on existing studies without having to examine them in detail.