Guidance notes and their status Flashcards Preview

Ethics, Rules of Conduct & Professionalism > Guidance notes and their status > Flashcards

Flashcards in Guidance notes and their status Deck (11)
Loading flashcards...

What is the RICS Red Book?

Global Standards with mandatory rules, best practice guidance and related commentary for all members undertaking asset valuations


What is the RICS Black Book?

A suite of guidance notes that define good technical standards for quantity surveying and construction professionals


What matters do the RICS Black Book GNs cover?

Cash flow forecasting

Acceleration (increasing originally planned / current rate of progress of works to complete the project earlier)

Cost Analysis and benchmarking


Management of Risk

Conflict avoidance and dispute resolution



What is an International Standard?

(MANDATORY) High-level standard developed in collaboration with other relevant bodies


What is a RICS Professional Statement?

(MANDATORY) requirements for RICS members and RICS regulated firms


What are Guidance Notes?

(RECOMMENDED GOOD PRACTICE) provides users with recommendations / an approach for accepted good practice as followed by competent and conscientious

Members do not have to follow them however when an allegation of professional negligence is made, a court judge may take this into consideration in his/her decision


What is a RICS Code of Practice (COP)?

(MANDATORY / RECOMMENDED GOOD PRACTICE) Document approved by the RICS and endorsed by another professional body


What is a Jurisdiction Guide (JG)?

(INFORMATIVE) Provides relevant local market information associated with an RICS international standard / RICS professional statement

Will include local legislation, associations and professional bodies to help user understand local requirements connected with the standard / statement

JG = not guidance / best practice material, but rather information to support adoption of the standard / statement locally


What are Practice Notes?

(MANDATORY) Under RICS bye-laws and regulations, members must comply with RICS practice statements, in the interest of maintaining the highest professional standards

Surveyors accepting instructions to provide certain reports (e.g. RICS Building Survey Service / RICS Condition Report Service) must comply with conditions set out in the PN

No departure from the mandatory PN is permitted

In case of professional negligence, court judge will consider use of PNs


What are Information Papers (IP)?

(INFORMATIVE) IPs are intended to provide information and explanations to RICS members on a range of surveying topics.

Their function is not to recommend / advise on professional procedures and should not necessarily be followed by surveyors


What is the name of the RICS publication magazine / journal and what does it do?


RICS Construction Journal

Relevant articles issued monthly

Hot topics;
- Sustainability, PII, Recession, Financial Markets