M - Ethics, Rules of Conduct and Professionalism Flashcards
(118 cards)
1
Q
What does RICS stand for?
A
Royal Institution of Chartered Surveyors
2
Q
What is the role of the RICS?
A
4 MAIN ROLES
- Regulate and promote the profession
- Maintain the highest educational and professional standards
- Protect Clients and consumers through a strict code of ethics and professional standards
- Provide impartial advice, analysis and guidance
3
Q
How many countries are in the RICS?
A
150
4
Q
Approximately how many RICS Members are there?
A
Over 134,000
5
Q
When was the RICS Formed?
A
1868
151 Years Ago
Originally called the Institution of Surveyors
6
Q
When did the RICS receive Royal Charter?
A
1881
Awarded by Queen Victoria to maintain and promote the usefulness of the profession for the public advantage
Changed its name to The Surveyors’ Institution
Changed name again in 1930 to the Chartered Surveyors’ Institution
7
Q
When was Royal introduced into the name of the RICS?
A
1946
Granted by George VI
The professional body became the Royal Institution of Chartered Surveyors in 1947
8
Q
Where is the RICS headquarters?
A
Parliament Square, London
9
Q
What is the RICS motto?
A
Est modus in rebus
“There is measure in all things”
10
Q
Why do you want to join the RICS?
A
It will bring me great pride and satisfaction to become a member of such a highly regarded organisation
It will enhance my career opportunities
It will also give my clients greater reassurance that i will deliver a high standard of service
11
Q
How will being a Chartered Quantity Surveyor benefit and differentiate you?
A
It will demonstrate to Clients and my employer that I have undergone thorough training and assessment in relation to my profession and will continue to develop my abilities throughout my career.
12
Q
If you become Chartered, how will you become involved in the RICS?
A
- I will attend RICS events
- I will become an APC Supervisor
- I will respond to surveys and consultations
13
Q
What benefits will you gain from becoming MRICS?
A
- International recognition from Clients and peers
- Competitive advantage
- A known level of professional standards
- Quality assurance to my Clients
- Access to information and training resources
14
Q
What is the role of the APC Supervisor?
A
- To advise a candidate on the most appropriate route and competencies
- To offer guidance, support and encourage candidates
- To evaluate candidates structured training
- To guide candidates through the submission
15
Q
Would you like to become an APC Assessor?
A
Yes - I would like to keep learning and broadening my understanding of the profession
16
Q
How do you become an RICS Assessor?
A
Currently a long waiting list - not accepting applications for APC Assessor roles until late 2020.
- 3 years MRICS
- Complete 1 day Assessor training course
17
Q
What do you think about the RICS?
A
- It promotes and enforces the highest professional qualifications and standards
- Brings confidence to the markets it serves as its name promises the consistent delivery of standards
- Globally recognised professional body, ideally placed to influence policy and embed professional standards
- The RICS is proud of its reputation and guard it fiercely, ensuring that clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.
18
Q
How many professional groups are there?
A
17
19
Q
Can you name some of the professional groups?
A
Quantity Surveying and Construction
Building Control Building Surveying Commercial Property Dispute Resolution Environment and Resources Facilities Management Geomatics Machinery and Business Assets Management Consultancy Minerals and Waste Management Personal Property / Arts and Antiques Planning and Development Project Management Residential Property Rural Valuation
20
Q
What are the duties of the RICS professional groups?
A
- To provide best practice guidelines
- To set standards for professional competence
- To provide training, CPD and network opportunities
- Promote and respect
- To undertake research to improve the profession
21
Q
Can you describe the RICS Governing Structure to me?
A
- At the top is the Governing Council
- Below this is the Regulatory Board, the Audit Committee and the Management Board
- Below the Management Board there are 4 sub-boards
- Knowledge Board
- Finance Board
- World Regional Boards
- Renumeration Board
22
Q
What is the Governing Council?
A
Sets the strategic direction of the RICS
Incorporates the Presidential team and member representatives from around the world.
Chaired by the President, meets twice a year
23
Q
What is the Regulatory Board?
A
- Administers the RICS regulation, which is chaired by a non-member to demonstrate regulation of members is independent and at an arms length from the interest of the members.
- The Regulatory board meets regulalry to decide policy on regulatory matters and oversee implementation of the regime.
- Is it responsible to the RICS Governing Council for its decisions
- The chair of the board is Stephen Haddrill
24
Q
What is the Management Board?
A
- Concerned with the day-to-day performance and delivery of the business plan
- The Governing Council has delegated key decision making to the Management Board to assist in the management of operational activities
- Subsidary boards:
1) Knowledge Board
2) World Regional Boards
3) Finance Committee
4) Renumeration Committee
25
Who is the RICS President?
Chris Brooke
Appointed Nov 2018 (Hong Kong Based)
26
Who is the RICS President-Elect?
Tim Neal
27
Who is the RICS Senior Vice President?
Kath Fontana
Clement Lau - Elected in May 19, will take over in December 19
28
What is the relationship between the RICS Senior Vice President, the RICS President-Elect and the RICS President?
Once appointed the RICS Senior Vice President, you serve one year before moving into the President-Elect role for another year and then the President role for one year
29
Who is the RICS Chief Executive?
Sean Tompkins
30
Who is the RICS Board Chairman?
Timothy Fry
31
Who is the RICS Australian Council?
Kevin Brogan
32
What is the difference between Ethics and Rules?
Ethics are moral principle and value
Rules are the framework we work to
33
What are the Global Professional and Ethical Standards?
5 Ethical Standards
- Always act with integrity
- Always provide a high level of service
- Always act in a way that promotes trust within the profession
- Always treat others with respect
- Always take responsibility
34
What does acting with integrity mean to you
Be honest and straightforward in all that you do.
Never prevent the Client from making an informed decision.
- Being trustworthy
- Being open and transparent
- Not taking advantage of those whom you have a duty of care
- Not allowing bias or conflict of interest to override business judgement
- Not offering or accepting gifts
- Acting consistently in the public interest
35
What does providing a high level of service mean to you?
Always ensure your Client gets the best information.
- Ensuring that Clients and those you have a responsibility over receive the best possible advice and support
- Providing clarity on what the client wants, and what you are offering
- Acting within your scope of confidence
- Being transparent about fees
36
What does promoting trust within the profession mean to you?
Act in a manner both professionally and privately that promotes you, your firm and the profession in a professional and positive way
- Acting in a manner to promote you and the organisation you work for and the profession in a professional way
- Promoting what the profession stands for
- Understanding that this should be reflected within your personal life
- Fulfilling obligations, doing what you say you will do
- Meeting the spirit of the standards, not just the words
37
What does treating others with respect mean to you?
Treating others with courtesy, politeness and consideration. No matter their race, religion, size, age, gender, sexual orientation or disability.
Be aware of cultural sensitivities.
- Being courteous, polite and considerate to others
- Being aware of cultural sensitivities
- Never discriminate
- Encourage the firm to work in a fair and respectful manner
38
What does taking responsibility mean to you?
Be accountable for your actions - don't blame others if things go wrong. If you suspect something isn't right be prepared to do something.
- Be accountable for your actions, don't blame others
- Always act with skill, care and diligence
- Where complaints are made against you, respond in an appropriate and professional manner to aim to resolve the issue
- If you don't think something is right be prepared to raise the matter with the appropriate person
39
What is the RICS Definition of Ethics?
Giving one's best to ensure the Client's interests are properly met, whilst also recognising and respecting the wider publics interests
40
What rules set out the standards of professional conduct and practice expected by members and firms registered for regulation by the RICS?
RICS Rules of Conduct for Members
RICS Rules of Conduct for Firms
41
What are the RICS Five Principles for better regulation?
1) Proportionality
2) Accountability
3) Consistency
4) Targeting
5) Transparency
42
What is meant by PROPORTIONALITY in relation to the RICS Five Principles for better regulation?
Make the penalty proportional to the breach
43
What is meant by ACCOUNTABILITY in relation to the RICS Five Principles for better regulation?
To all members and the public
44
What is meant by CONSISTENCY in relation to the RICS Five Principles for better regulation?
Treating all members the same
45
What is meant by TARGETING in relation to the RICS Five Principles for better regulation?
Serious breaches
46
What is meant by TRANSPARENCY in relation to the RICS Five Principles for better regulation?
To all members, clients and the public
47
What is the difference between Ethics and Rules?
- Ethics are moral principles and values
| - Rules are the framework we work to
48
Why does the RICS have rules of conduct?
They provide a framework we can all work to, whilst ensuring a Client understands exactly the service they should be receiving
49
How many Rules of Conduct are there for Members?
9
50
Can you name the Rules of Conduct for Members?
1) General Interpretation (of the RICS and its member types)
2) Communication (with the RICS)
3) Professional & Ethical Behaviour (Integrity and Conflict Avoidance)
4) Competence (carry out work with due skill and care)
5) Service (high standard and client care)
6) Continuing Professional Development (comply with RICS requirements)
7) Solvency (ensure personal and professional finances are managed appropriately)
8) Information to the RICS (submit information required by the RICS in a timely manner)
9) Co-operation (with the RICS
51
How many Rules of Conduct are there for Firms?
15
SIX MORE THAN MEMBERS
52
Can you name the Rules of Conduct for Firms?
1) General Interpretation (of the RICS and its member types)
2) Communication (with the RICS)
3) Professional & Ethical Behaviour (Integrity and Conflict Avoidance)
4) Competence (carry out work with due skill and care)
5) Service (high standard and client care)
6) Continuing Professional Development (comply with RICS requirements)
7) Complaints handling (policy in place)
8) Client Money (Preserve security of Clients money)
9) Professional Indemnity Insurance (in place and correct level)
10) Advertising (promote services in a truthful and responsible manner)
11) Solvency (ensure personal and professional finances are managed appropriately)
12) Arrangements for incapacity of solve practitioner
13) Use of Designations (Business literature must state - 'regulated by the RICS')
14) Information to the RICS (submit information required by the RICS in a timely manner)
15) Co-operation (with the RICS
53
What are the CPD requirements under the RICS?
- Minimum 20 hours per year once qualified
- 10 hours must be formal (50% FORMAL)
- Maintain an understanding of Professional & Ethical Standards
54
When does a firm need to be regulated by the RICS?
If at least 50% of its principles are RICS members
55
What are the procedures for setting up a new practice?
1) Contact the RICS for guidance - provide a company start up pack
2) Inform the RICS and register for regulation
3) Pay the regulatory fees
4) Appoint a contact officer for all RICS communication
5) Prepare a complaints handling procedure
6) Obtain PI Insurance
7) Abide by the Rules of Conduct for Firms
8) Use the designation 'Regulated by the RICS' on all practice material
56
What insurances would be required when starting up your own firm?
1) Professional Indemnity Insurance
2) Employer's Liability Insurance
3) Public Liability Insurance
4) Building insurance for the office
57
What sort of information do registered firms have to provide the RICS annually within their annual return?
1) Type of business and staffing
2) Nature of clients
3) Complaints handling procedures, details and records
4) PI Insurance details
5) Whether the firm holds Clients' money
58
What guidance and advice is available from the RICS for businesses and members?
1) Rules of Conduct
2) Countering Bribery and Corruption, Money Laundering and Terrorist Financing
3) The Global Professional and Ethical Standards
4) Professional Statement - Conflicts of Interest and Confidentiality
5) Professional Indemnity Insurance Requirements
6) Complaints Handling Procedure Guidance
7) Handling Clients' Money
8) The 'Black Book'
59
What is the Black Book?
A suite of guidance notes that define good technical standards for Quantity Surveying and Construction Professionals
60
Can you name some of the guidance notes provided in the Black Book?
- Acceleration
- Appropriate Contract Selection
- Ascertaining loss and expense
- Capital allowances and land remediation relief
- Cash flow forecasting
- Commercial management of construction
- Conflict avoidance and dispute resolution in construction
- Construction cost and commercial management services in the UK and China
- Construction insurances
- Construction sectors and roles for chartered quantity surveyors
- Construction security and performance documents
- Cost analysis and benchmarking
- Cost reporting
- Damages for delay to completion
- Defects and rectifications
- Defining completion of construction works
- Developing a construction procurement strategy and selecting an appropriate route
- E-tendering
- Extensions of time
- Final account procedures
- Interim valuations and payments
- Lender's independent monitoring surveyor
- Management of risk
- Methodology to calculate embodied carbon
- Retention
- Tendering strategies
- Termination of contract, corporate recovery and insolvency
- Value management and value engineering
- Valuing change
61
What is the Red Book?
Similar to the Black Book, but for Valuation
62
What is a complaint?
An expression of dissatisfaction
63
What is the RICS guidance for establishing a Complaints Handling Procedure?
1) Must include an independent redress mechanism
2) Needs to be two stages; senior member of the firm initially, if not resolved passed to an independent third party
3) Notify potential clients that a CHP exists when issuing the Terms of Business
4) CHP must be free to the complainant - the independent review may be paid for by each party
5) Complaints should be acknowledged ASAP and a full response provided within 28 days
6) PI Insurer should be notified of a complaint ASAP to ensure compliance with PII Policy
7) Keep a log of complaints
8) The RICS will only become involved if you fail to respond to the complainant, or prevent them from gaining access to an independent redress mechanism
64
What makes an effective Complaints Handling Procedure?
- Be fit for purpose
- Be available to all staff
- Be understood by all staff
- Be regularly reviewed at a senior management level
- Be agreed with PI Insurers
- Be readily available for complainants
65
What should a complaints log contain?
- Complainants details
- Date received
- Complaint reference number
- Relevant person details (Firm or Individual)
- Details of the complaint
- Investigation and outcome
- Actions taken by firm to prevent recurrence
66
What is your company's complaints handling procedure?
- Discuss with the Director concerned and the Commission Manager
- Commence a Corrective Action Record (CAR) to; identify the problem, the action to be taken and the date it will be rectified. It should also include future preventative action required in order to avoid a recurrence.
- The Director is to issue an acknowledgement letter to the Client, advising the complaint is being dealt with.
- Action plan from the CAR is implemented. Feedback is sought from the Client.
- If the Client still feels aggrieved the issue should be escalated to the Regional MD.
- If the Client remains dissatisfied, the issue can be escalated to the CEO and potentially ADR, if required (in accordance with the contract between T&T and the Client).
67
What is the purpose of Professional Indemnity Insurance?
To provide financial cover in the event a client suffers financial loss as a result of a breach of professional duty
68
What are the RICS requirements for Professional Indemnity Insurance?
1) Must be made on an 'each and every' claim basis
2) Gives minimum wording policy
3) Sets out minimum levels of indemnity
4) Sets out maximum levels of uninsured excess
5) Fully retroactive (all former work carried out needs to be covered. Retroactive date on the policy should state 'none'
6) Underwritten by a listed insurer
7) Should cover for past and present employees
8) Firms must obtain fully retroactive run-off cover, to protect parties in the event a firm ceases to trade
69
What benefits does PII provide the professional?
Protection from financial loss
Does not have to meet the claim from their own assets or resources
70
What benefits does PII provide the client?
Can recover financial loss
71
On what basis is PII underwritten?
On a claims made basis
The claim is made against the insurance policy that is in place when the breach is discovered, not when the breach occurred
72
Tell me about Merrett vs Babb
Court case from 2001
- Babb had done a valuation as an employee of a company for a house purchased by Merrett.
- The valuation letter was found to be negligent
- The original company no longer existed
- The court rules that Merrett could pursue the individual, Babb, for the losses
- Big shock for the industry
73
What is the significance of Merrett vs Babb?
1) Considers the vulnerability of an employee to claims brought directly against them for advice given on behalf of their employer
2) Highlights the importance of run-off cover
3) Professional individuals and firms must ensure that run-off cover is in place after they leave a firm's employment or a firm ceases to trade
74
What are the minimum levels of indemnity directed by the RICS for PI Insurance?
DEPENDS ON FIRMS TURNOVER
Turnover Minimum Limit of Indemnity
£100k or less £250k
£100k - £200k £500k
£200k and above £1m
75
What are the maximum levels of uninsured excess directed by the RICS for PI Insurance?
DEPENDS ON LEVEL OF INDEMNITY
Limit of Indemnity Maximum uninsured excess
Up to £500k - The greater of 2.5% of the sum insured, or £10k
Over £500k - 2.5% of the sum insured
76
What if the loss exceeds the cover provided by PII?
The professional / firm is liable for the difference
77
What measures should be taken to try and avoid PI claims?
1) Keep full detailed records of meetings and conversations
2) Record recommendations and advice given
3) Use proper letters of engagement
4) Follow scope of services and terms of agreement
5) Don't advise on a specialism outside of your experience
6) Use RICS guidelines
7) Avoid poor management and excessive workloads
78
What is meant by the term limit of liability and where is it used?
Used to place a cap on the level of exposure a business signs up to
If cover is for each and every claim, it is that level for each claim
Without a limit, the business and its assets are at risk. Companies try to limit their exposure
79
How would a net contributions clause affect PII?
It ensures the consultants liability is only for the loss they cause
If another party is also responsible for the loss, the client will have to sue them separately
80
What is a conflict of interest?
Anything that impedes, or might be perceived to impede an individual's or firm's ability to act impartially and in the best interest of a client
81
How do you identify conflicts of interest?
Before taking on a new client or work, ask yourself whether your ability to act in the best interest of your client could be potentially impaired by:
- Any financial interest - where you may gain or lose
- A personal relationship
- Commercial relationships - obligation to another commercial entity
- The interests of your firm - where financial interests of your firm conflict with the interests of the client
If you believe your impartiality could be compromised in any way then it is likely that there is a conflict of interest
82
What would you do if you are faced with a conflict of interest?
Deal with it with openness and transparency
- If you identify potential conflicts, or things that may influence you, or that others may think could influence you - DECLARE THEM ASAP
- Offer to stand down from acting for any party - in doing so, you enable the parties to make an informed decision about how to proceed
- If any party objects to you continuing to act then you should step away
83
How would you manage a conflict of interest?
Depending on the facts of the situation, conflicts can be managed
- If after giving all the parties the full facts of a conflict / potential conflict. The parties can then make an informed decision that they still want you to continue to act.
- The final decision is yours - you may find it too difficult to continue
- It is suggested that you get the final confirmation in writing
84
What is bribery?
The offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust
85
What guidance does the RICS provide on bribery?
Countering Bribery and Corruption, Money Laundering and Terrorist Financing
Came into effect Sept 2019
Sets out mandatory requirements for RICS Members & Firms in relation to bribery, corruption, money laundering and terrorist financing
86
What is money laundering?
Concealing the source of the proceeds of criminal activity to disguise their illegal origin
87
What is being done in Australasia in relation to money laundering?
NZ & AUS present two contrasting environments.
NZ - Perceived as one of the most corruption-free countries in the world
AUS - Has been called a 'place of choice' for money laundering by one of the biggest banks (ANZ)
Both countries are at risk due to perceptions that they are easy places to do business
88
What is the Australian legislation in relation to money laundering?
Anti-Money Laundering and Counter Terrorism Financing Act 2006
Amendment Act 2017
Increases power and functions of the Australian Transaction Reports and Analysis Centers (AUSTRAC) CEO
Subjects digital currency providers to the regulations
89
What is the RICS position on gifts and hospitality?
Gifts and hospitality should not be accepted or offered if they are likely to compromise you or your firm's impartiality or integrity or if it gives the impression of doing so
90
What is your company's gift and hospitality policy?
Gifts / hospitality should not be given / accepted from the same source more than once every 3 months
Gifts over USD 160 in value should be declared to the Regional Director
Hospitality over USD 400 in value should be declared to the Regional Director
CASH AND VOUCHERS CANNOT BE OFFERED OR ACCEPTED AS A GIFT
91
What is the RICS guidelines for handling clients money?
1) It should be held in a separate bank account
2) The money should be available on demand
3) Advise the client in writing of bank account details and agree the terms of account handling including arrangements for interest and charges
4) A bank reconciliation must be undertaken at regular intervals
5) Signatories must be agreed
6) All firms holding clients money will be audited by RICS appointed accountants
92
What would you do if a client wanted to pay you in advance for services?
1) Keep money in a separate bank account
2) Provide a statement of account
3) Agree how and when money will be drawn down
4) Prior to drawing down, send a statement to the client notifying how much
5) Once the drawdown is mande, issue an updated account statement
6) Once services are complete, provide a reconciliation of the account
93
What do you do if you have surplus client money in an account?
- Ensure all efforts are made to trace the client
- Hold the surplus money in a client suspense account
- Hold the money for a minimum of 6 years
- If no owner of the money have been found after 6 years it may be donated to a registered charity
- A receipt should be provided from the charity, so that if the claimant does come forward it can be made available to them. Ideally, the charity will provide indemnity to enable the firm to recover the donation in the event of a claim.
94
How many levels of RICS membership are there?
4
95
What are the 4 levels of RICS membership?
1) Trainee
2) Associate
3) Member
4) Fellow
96
How do you become a fellow?
All chartered members are eligible to apply for fellowship.
To qualify, you must show how your career experience demonstrates four out of the 12 professional characteristics
Need to provide a set of written submissions relating to your career
- Career history - 500 words
- Professional characteristics - 500 words
- Third party evidence
Champion - How you have gained recognition from an appropriate authority
1 - Service to RICS
2 - Service to another professional body
3 - Market or industry recognition
Expert - How you have been verified as advancing, sharing or interpreting knowledge
4 - Qualification
5 - Teaching
6 - Dispute Resolution
Influencer - How you have influenced the way professionalism is perceived
7 - Leadership
8 - Management
9 - Development
Role Model - How you have exceeded standards benefitting clients, collegues or the public
10 - Client Care
11 - Operation
12 - Society
97
What is the APC?
Assessment of Professional Competence
A period of structured training followed by a final assessment interview
Required to become a member
98
What different routes can you take to APC?
Structured Training
- Either 12 or 24 months, dependent on experience
- 96 or 48 hours of CPD required
Preliminary Review
- Requires 5 or more years experience
- 48 hours of CPD
- Successful completion of a preliminary review prior to the final assessment
99
What is the route to become an Associate Member?
- 0 to 4 years experience
- 3,000 words Summary of Experience
- 2,500 words Case Study
- 48 hours of CPD in the past 12 months
- Completion of Online Ethics Course
100
How would you deal with a situation such as a friend who asks you to provide them QS advice?
My current employment contract does not allow me to carry out work outside of my contracted role.
- I could not offer advice on my own without PI Insurance
- If I did have PII, any information provided would need to be thoroughly checked, as is required for all information prior to issue, regardless of who it was to
- Inform them they can contact you during working hours to discuss T&C's of appointment
- If you are not comfortable acting for them, advise them to use the RICS 'find a surveyor scheme'
- Adhere to the rules of conduct
101
How many pathways are there for APC candidates?
22
102
Can you provide some examples of the available pathways?
Quantity Surveying and Construction
```
Building Control
Building Surveying
Commercial Real Estate
Corporate Real Estate
Environmental Surveying
Facilities Management
Geomatics
Infrastructure
Land and Resources
Management Consultancy
Minerals and Waste Management
Personal Property / Arts and Antiques
Planning and Development
Project Management
Property Finance and Investment
Research
Rural
Taxation Allowances
Valuation
Valuation of Businesses and Intangible Assets
```
103
What do you do if you find a member working outside of the RICS Rules of Conduct?
- Verify the facts, then politely remind them of their duties as a member of the RICS
- If they persist, I would write to the RICS Head of Regulation and inform them
104
What would you do if a contractor offered to take you to a hospitality event?
- If I had been targeted directly, I would decline, because it could be seen as trying to impair my judgement
- If the gift was directed at the company as a whole, I would secondly consider the timing i.e. will I be awarding any contracts soon, which could be seen as influencing
- Finally, I would consider the proportionality of the gift i.e is it proportional to our business relationship?
- I would record any gifts I receive within the business gift register
105
The RICS is involved with a number of charities and services that support and advise individuals both inside and outside of the organisation. Can you name them?
1) The Chartered Surveyors' Voluntary Service (CSVS)
2) The Chartered Surveyors Training Trust (CSTT)
3) LionHeart
4) Charity Property Help
106
What is the Chartered Surveyors' Voluntary Service (CSVS)?
Provides free property advice to people who would otherwise struggle to receive professional assistance.
Chartered surveyors working for CSVS give their advice on a voluntary basis.
107
What is the Chartered Surveyors' Training Trust (CSTT)?
An independent charity that supports young people who face barriers to entering the surveying profession.
2 year programme - you work 4 days a week and attend university 1 day a week
108
What is LionHeart?
An independent charity run by our professionals, for our professionals. It offers confidential advice, information and other support to past and present members of the RICS who for whatever reason, find themselves in difficulty
109
What is Charity Property Help?
A pro bono service which provides free support and guidance on all property matters to charities and voluntary organisations
110
What is Modus?
A monthly magazine that brings you the latest news and views, expert advice and in-depth features spanning the breadth of the surveying profession around the world
111
What is the construction journal?
Essential reading for quantity surveyors and project managers to support the technical and professional aspects of their day job
112
What is the RICS Matrics?
A division of the RICS dedicated to student surveyor training
Produces a network of charity and networking events
Promotes seminars and lectures
113
What was the outcome of the 2018-19 Annual Review by Sean Tompkins?
The RICS has delivered confidence this year in 4 key areas:
1) TRUSTED BY STAKEHOLDERS AND SOCIETY - Collaboration with key clients around the world - Adoption of IPMS and ICMS2 ensuring consistent standards of measurement and cost management
2) RICS PROFESSIONAL QUALIFICATIONS REMAIN IN DEMAND - Over 22,000 candidates working towards MRICS. Females accounting for almost 30% of new applications, up from 15% just 6 years ago
3) INFLUENTIAL THOUGHT LEADER - All European central banks now use RICS data as key market indicators within commercial real estate
4) SUSTAINABLE 21ST CENTURY PROFESSIONAL BODY - Need greater thought leadership and to remain agile. This year the RICS has begun implementing a series of major reforms to the RICS' governance and bye-laws to position them well for the future.
114
What was the purpose of the proposals put forward by the Governing Council in November 2018 to amend the RICS Royal Charter and Bye-Laws?
To establish a modernised, future-facing governance structure fit for a 21st century professional body.
The changes were proposed to put in place high level governance fit for an agile 21st century profession and ensure the profession remains trusted to set and enforce our own professional standards
The changes will be implemented throughout 2019
115
Over 2019 what will the RICS work towards to implement the Special Resolution put forward by the Governing Council to modernise the governance structure of the RICS?
- Enable a more globally representative and diverse Governing Council
- Introduce a new role of Chair of Governing Council
- Establish a joint Standards and Regulation Board
116
What is the second stage of the governance reforms?
A detailed Bye-Law review.
The second stage will build on the first vote relating to the high-level governance structure.
It will bring forward a wider package of reforms to underpin the high-level structure approved in the first vote.
The vote will occur late 2019.
117
What is the RICS Governed by?
- The Royal Charter
| - RICS Bye-Laws
118
What does the Royal Charter require?
It requires the RICS to promote the usefulness of the profession for the advantage of the public.
It means that important changes to the constitution (the bye-laws) have to be ratified by the UK Government through the Privy Council, even if they are approved by a majority vote of the members.
The Royal Charter is still considered the 'gold standard' of excellence and integrity.
