4. RICS Structure Flashcards
What is the meaning of the RICS Motto?
There is a measure in all things
What is the Mission Statement of the RICS?
- To qualify and equip their members to offer the highest standards of professional service.
- To promote and enforce standards
- To lead solutions to the major challenges facing the built environment through professional expertise.
When was the RICS founded?
- It was founded in 1868.
How is the RICS Structured?
- The RICS was founded in 1868 with the Royal Charter being granted by the Privy Council in1881.
- Under the royal charter The Governing council manage and agree the strategy for the RICS.
- The RICS Board and Standards and Regulation board are beneath the governing council and execute the strategy set by them.
- The RICS is self-regulated and internally monitored (meaning that it is not regulated by the Government or external parties.)
- The Bye-Laws determine how the RICS is regulated.
What are the RICS’ 5 principles of better regulation?
- Proportionality.
- Accountability.
- Consistency.
- Targeting.
- Transparency.
What is the RICS Board
The RICS board sits under the governing council and RICS Board has delegated responsibility for delivery of the business plan and oversight of operations
What are the laws and regulations that govern the RICS?
RICS are governed by bye-laws with are laws applied internally granted by the powers of royal charter.
How many Professional Groups are there and how many of them can you join for the full membership fee?
There are total of 18 professional groups which cover the broad spectrum of surveying services. All of them can apply for a full membership
Who is the BCIS and what is its relationship to RICS?
Building cost information service is a database system that provides cost and price data for the UK construction industry. It was founded as part of RICS but it is now a standalone company
What is Governing Council and how is it elected?
The governing council is the RICS’s highest governing body which set global strategy and ensure RICS fulfils its Royal Charter obligations.
It is elected where there are vacancies available and the election is taking place in the second half of 2024.
Elections are held every two years and are open to all FRICS, MRICS and AssocRICS members
Comprises of members from world regions, specific countries, regions of England, the professional groups, Matrics and members as a whole
All Members can vote in the whole membership category
For geographical seats, only Members based in that geographical area may vote
In broad terms, what are the RICS Byelaws?
A list of laws applied internally using powers granted by the Royal Charter (aka the RICS’ constitution)
What is Matrics and how does it create social value?
RICS Matrics is an early career community designed to support students, apprentices, trainees and those who are newly qualified (up to 10 years), as they move into the industry. It gives the community a platform to influence the profession, as well as an opportunity to network and gain support as they go through the assessment.
What is Lion Heart and how does it create social value?
LionHeart is an independent charity specifically designed for past, present and future RICS professionals and their families.
Their aim is to support members through difficult times, whether personal or professional, from the beginning of their career as an APC candidate or apprentice, right through to retirement.
Explain the function of the Professional Groups?
Drafting, reviewing and maintaining professional guidance internationally
Setting up the standard of professional competence required for successful qualification into RICS membership and the different designations (e.g. chartered building surveyor, chartered facilities management surveyor etc.)
Contribute to policy formation
Commission and undertake specialist research
Contribute to CPD events
Why do we have Guidance Notes, and do you have to follow them?
This is to ensure members and firms follow best practise when it comes to their surveying roles.
What is a Professional Standards, and do you have to comply with it?
These are mandatory guidances we have to comply with. Examples include conflict of interest and client money handling
Who regulates members of the RICS and ensures they comply with the rules?
The Standards and Regulation Board
How are disciplinary matters dealt with by RICS?
The RICS Charter and Bye-Laws authorise the Standards and Regulation Board to make Rules about the exercise of disciplinary powers.
Where a complaint or concern about a Regulated Member (RICS professional or RICS-regulated Firm) is investigated by RICS and is considered serious enough and supported by evidence, Head of Regulation will consider taking disciplinary action.
How does RICS communicate with its members?
RICS will communicate with Members by any of the following: post fax email telephone in person.
Explain to your client the main benefits of employing a chartered surveyor?
CPD knowledge, if for example I can’t deal with an issue, I can use my networking skills to get in touch with someone who has the expertise.
Trust in profession, my obligation to RICS ensures that what I do is fully ethical
What are the benefits of being ‘regulated by RICS’?
Status
Recognition
Market advantage
Network
Knowledge - International practise standards, professional guidance, CPD
How is the RICS Structured?
The RICS was founded in 1868 with the Royal Charter being granted by the Privy Council in1881.
Under the royal charter The Governing council manage and agree the strategy for the RICS.
The RICS Board and Standards and Regulation board are beneath the governing council and execute the strategy set by them.
The RICS is self-regulated and internally monitored (meaning that it is not regulated by the Government or external parties.)
The Bye-Laws determine how the RICS is regulated
How can a disciplinary proceeding be triggered?
- Someone complaining to the RICS.
- An allegation by a client or third party.
- Information received or established by the RICS.