24. Hot Topics Flashcards
What is the Bichard Review?
The Bichard Review was an independent review commissioned by the RICS Governing board in December 2021 into the purpose, governance and strategy of the RICS.
It was commissioned by RICS governing council in dec 2021 following the Levitt report
Review advised on 36 recommendations that are currently being implemented which include:
- Commercial activity will now be separated from other activities within the RICS and led by a suitable qualified executive with strong commercial experience who reports to the Commercial committee
- RICS Matrics should give younger members a stronger voice through improved structure
-Improvement of technology within the RICS
- Public interest panel will be setup to advise the governing council
What is the RICS’ position on Brexit?
RICS has provided a number of position statements highlighting its concerns and issues with Brexit
RICS thinks that the UK government should be doing more for the construction industry following an exit from EU.
Encouragement of growth and diversity of the construction workforce as potential loss of non UK works could create significant issues as this currently account for 12.6% of workers
What do RICS do for COVID 19?
RICS Covid 19 guide Surveying services with advice on
There is also increased cost of steel per tonne by 22%
products such as plastic piping, plasterboard and labour availability have become increasingly scare
Can you tell me about the building safely act?
What can you tell me about fire safety?
On 5th July 2021, the Building Safety Bill, first published in July 2020, was introduced to Parliament. This is a lengthy document and was subject to change as it worked its way through to gaining Royal Assent as expected in April 2022. The following information may be subject to change.
A higher level of competency will be required for the regulated roles referred to in the Act of Principal Designer and Principal Contractor for residential high-rise buildings (HRBs)
What technologies are you aware of?
Revolutionising Construction: Drones and Technology Insights
Use of drones for surveys
4D Construction
I also read the article on the impacts of AI on the built environment
- Construction workers may soon need to learn how to operate AI enabled machinery
- Building surveyors will benefit from AI for inspections
- Quantity surveyors can automate tasks like cost estimation and project scheduling with AI.
What are you aware of in sustainability?
COP28 is the first substantive and meaningful strategic opportunity RICS has had to be part of this global conversation.
-Loss and damage funds to developing countries who are suffering from climate change
-Fossil fuel phase-out agreement
-Private sector to be supported by the launch of.a £30bn private investment
The COP26 took place in Glasgow in 2021,where RICS highlighted the importance of the real estate and construction sectors in achieving net-zero carbon targets and implementing sustainable building practices
How do you think hybrid working is affecting the industry?
What are the findings of the Levitt Report?
Levitt Report was commissioned by the RICS following a treasury management audit in 2018
Prior to the audit RICS had to extend its overdraft facility by circa £3m due to inaccurate cashflow forecasting
Treasury management audit offered a ‘no assurance verdict’ on RICS internal finanial control procedures and following this, the levitt report was comissioned as an independent review.
Levitt report concluded that there is an internal power struggle due to its two board structure made up of management board and executive board
Recommendations:
- RICS governing council to have more oversight over internal dealings
- Governing council are to oversee executive management bonuses
- No evidence of improper or illegal conduct was discovered
What are the RICS guidances following the Grenfell?
Following the fire, RICS published a guidance note ‘Cladding for surveyors 1st Edition March 2021’
What is ACM cladding?
Aluminium composite material,
What is the significance of ACM in Grenfell?
ACM cladding in use was thought to contain combustible materials that contributed towards the spread of fire across the external
elevation of the building.
As a result the UK government has now banned the use of combustible materials on high rise homes from 29th Nov 2018
What’s EWS1?
An external wall system review certificate
It applies when a multi storey residential property is brought, sold or remortaged
New Fire Safety Act 2021
First Safety Act was introduced in March 2020
Main focus is the amendment of the Fire Safety Order to clarify that it will apply to the structure and external
walls as well as anything attached to external walls such as doors, windows and cladding
Under the previous regime it was unclear who was responsible for fire safety compliance for these elements of
the building
Tell me about the Levitt Report
The Levitt Report was commissioned by the RICS following a Treasury management audit in 2018.
Prior to the Audit the RICS had to extend its overdraft facility by circa £3m due to inaccurate cashflow
forecasting.
The treasury management audit offered a ‘no assurance verdict’ on RICS internal financial control
procedures and following this the Levitt report was commissioned as an independent review.
The conclusion of the Levitt report illuded to an internal power struggle due to its two board structure
made up of a Management Board and Executive Board.
Following the report the RICS accepted each of Levitt’s recommendations including:
- The RICS Governing Council are to have more oversight over internal dealings of the RICS.
2.The RICS Governing Council are to be briefed by the Management Board as opposed to a single CEO
- The RICS Governing Council are to oversee executive management bonuses.
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