RICS Matters Flashcards
(25 cards)
What is the RICS Motto?
Est Modus in Rebus
There is measure in all things
When was RICS Founded?
1868
Where is the RICS headquarters?
12 Great George Street. Parliament Square, London
What is a Royal Charter?
A 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.
The charter means that important changes to our constitution – its bye-laws – have to be signed off by the UK Government.
What is Lionheart?
An independent charity run by the RICS professionals for RICS professionals
The services include financial support, health & well being packages, free professional counselling, work related support and legal advice
What is RICS matrics?
RICS Matrics is a community within the RICS specifically for early career members, including students, apprentices, trainees, and those newly qualified (up to 10 years).
It provides support, networking opportunities, and professional development
What is the role of the Standards and Regulation Board?
- Exclusive responsibility for exercising RICS regulatory proceedings
- Oversees the activities of RICS professional standards
- Independently lead and independent members
What were the key objectives of the Levitt Review?
Alison Levitt was commissioned to conduct an independent review into historic treasury management matters and subsequent actions at RICS
Key conclusions of the Levitt Review?
- Sound governance principles were not followed by the RICS
- The review found that non executive board members concerns were legitimate and that they were wrongly dismissed from their roles
- A lack of clarity around the roles and responsibilities of the various RICS boards, senior leadership and management
What is the Bichard Review?
Bichard Review was commissioned by the Governing Council following the recommendations of the Levitt Review, focusing on its purpose, governance, and strategy
What did the Bichard Review recommend?
- Increased focus on the public interest remit of RICS. Creating a Public Interest Board
- Increased focus on Diversity & Inclusion
- Increased focus on Sustainability and Climate Change.
- Regional boards should have greater autonomy and more devolved powers to support members
- Maintaining Self Regulation, through greater independence for regulatory functions
What is the RICS Governance structure?
Governing council:
- responsible for approving RICS strategy and vision
- overseeing effective delivery of the strategy
Privy Council - body of advisors to the UK monarch
Governing Council
Regulatory Tribunal - Standards & Regulation Board - RICS Board
What is the Role of the Governing Council?
The Governing Council is the main decision-making body of the RICS.
Sets global strategy
Ensure RICS fulfills Royal Charter obligations
Provides strategic oversight of professional standards.
Sets the direction for the organisation, and ensures that the RICS achieves its goals and objectives.
What is the role of the RICS board?
RICS Board has delegated responsibility for delivery of the business plan and oversight of operations (excluding standards and regulation).
What does RICS stand for?
Royal Institution of Charted Surveyors
What is the RICS Modus?
Official Magazine published by the RICS
What was the last Modus Article you read?
Can 3D printing make lunar construction a reality?
NASA plans to build a landing pad on the moon in 2027 and habitable structures on the moon by 2030 with a 3D printer.
They plan to melt the dust and gravel on the moon to create the building material
What is the RICS annual return policy?
RICS) Annual Return Policy is an annual reporting requirement, serving as a regulatory requirement for all RICS-associated firms.
Each year, these firms must provide an annual return, addressing specific quality assurance checks and queries
Non-compliance or failure to submit an Annual Return can result in disciplinary measures from RICS.
Who is the RICS president?
Nick McClean - Acting president
Who is the RICS president elect?
Nick McClean
Who is the RICS CEO?
Justin Young
Who is the London Chair
Richard Garland but he is stepping down soon.
What is the purpose of the RICS bye-laws?
The bye-laws determine how the RICS is regulated
Justin Sullivan issue
Justin Sullivan stepped down as RICS president following his role as an expert witness in a case concerning a moth-infested mansion
Justin Sullivan has referred himself to the RICS’ Standards and Regulation Board and requested an independent regulatory review into the High Court judgment handed down last month.
The judge was “unimpressed” with Sullivan’s grasp of the case details and described his judgment as “flawed” in several instances.
