General Flashcards
(15 cards)
What is the role of RICS?
Advancing the highest ethical and technical standards for professionals in land, property and the built environment.
Protecting and providing benefits to consumers by enforcing standards and codes of best practice. Providing expert impartial advice to governments, businesses and the public. Equipping RICS members with leading edge advice, market insight and professional training. Promoting RICS status and standards in key worldwide markets as the mark of property professionalism.
What is the Royal Charter?
Awarded in 1881 by Queen Victoria.
The Royal Charter requires RICS to promote the usefulness of the profession for the advantage of the UK public and in other parts of the world.
Where are RICS’ international headquarters located?
12 Great George Street, Parliament Square, London.
What is the motto of RICS?
‘Est modus in rebus’ - there is measure in all things.
What is Lionheart?
An independent charity run by RICS professionals, for RICS professionals.
Benevolent fund established over 100 years ago. The services include financial support, health and wellbeing packages, free professional counselling, work-related support and legal advice if a member or loved one becomes seriously ill.
Why do you want to be a Chartered Surveyor (MRICS)?
RICS is the largest international property institution in the world.
Joining provides global recognition, elite professional status, guidance, information, support, and promotes best practice in the profession.
What is RICS Matrics?
Supports new members entering the profession and works with RICS to shape the future of surveying.
Aims to grow the size and respect of the profession across industries globally.
What is the role of the Standards and Regulation Board?
Has exclusive responsibility for exercising RICS’ regulatory functions, including strategy, governance, structure, policy and operational oversight in the public interest.
Oversees professional standards, entry and admission, education and qualification standards, regulatory operations, dispute resolution services, and the Regulatory Tribunal.
Can you give an overview of RICS’ governance structure?
The Governing Council is responsible for approving RICS strategy and vision, overseeing effective delivery, and approving changes to RICS’ constitution.
Supported by the Executive Board and expert governance bodies made up of RICS members, employees, and independent non-executives.
Why was the Levitt Review commissioned?
To conduct an independent review into historic treasury management matters and subsequent actions at RICS.
What were the key objectives of the Levitt Review?
To consider:
* The way the internal report was commissioned and dealt with
* Any shortcomings
* Whether shortcomings represented a failure of governance
* Recommendations for the future.
What were the key conclusions of the Levitt Review?
Sound governance principles were not followed by RICS.
Non-Executive Board members’ concerns were legitimate and wrongly dismissed. There was a lack of clarity around roles and responsibilities of RICS Boards and leadership.
What is the Bichard Review and why was it commissioned?
Commissioned by the Governing Council in December 2021 for a wide-ranging examination of purpose, governance and strategy.
This followed a recommendation in the Levitt Review.
What was Lord Bichard’s remit?
To clarify the purpose of RICS, propose changes to its governing structure, and suggest future culture and strategy.
What are the key recommendations from the Bichard Review?
The report’s recommendations include:
* Renewed focus on public interest
* Maintaining self-regulation with greater independence
* Increased focus on Diversity and Inclusion
* Empowering members with greater support for regional boards
* Independent review of governance every five years
* Simplified, clear governance structure
* Greater leadership on societal issues.
