Background To RICS

Question 1

Background to RICS

Answer 1

1972 Surveyor Club
Founded 15th June 1868 as the Institution of Surveyors
The President at the time was John Clutton
Occupied offices were on the corner of 12 Great George Street (Parliament Square) and still are as till date as HQ’s
Received Royal Charter on 26th August 1881 as the Surveyors Institution
1930 Changed the name to Chartered Surveyor Institution
1946, King George IV granted the title “Royal”, and in 1947 the professional body became the Royal Institution of Chartered Surveyors

Question 2

Royal Charter

Answer 2

RICS is incorporated by the Royal Charter - issued by the Monarchy on the advice of the privy council.

The objectives of the institution are to

” Promote the usefulness of the profession for the advantage of the UK and in other parts of the world”

The institution is governed by bye-laws which allow for self-regulation

Any changes to the bye-laws need to be ratified through the Privy Council.

Question 3

Recent vote for change - Charter / Byelaws

Answer 3

On November 2018, members voted in favour of a series of changes to the RICS charter and
byelaws.

To establish a modernised, future-facing governance structure fit for a 21 st century.
Ratification by the Privy council was on the 13th Day of March 2019 and updated in February 2020.

Question 4

These changes were included:

Answer 4

Enabling a more globally diverse Governing council, drawn from members around the world
and across the different sectors of the profession.

Introduction of a new role of chair of Governing Council – separate from the ambassadorial
role of RICS President.

Establishing new joint standards and regulation Board.

Question 5

Governance Structure

Answer 5

Governance structure is shaped by the Royal Charter, Bye Laws and Regulations
Privy council – ratifies byelaws and awards Royal Charter.

Question 6

Governing Council

Answer 6

o Top decision-making body sets strategic direction and monitors performance of the
organisation. Ensures the RICS fulfils its Royal charter obligation.
o Interim chair of Governing council – Chris Brooke FRICS
o RICS President – Kathleen Fontana (2020)
o RICS President Elect – Clement Lau (2020)
o RICS Senior Vice President – Anna Gray (2020)
o All RICS members are elected from around the world (6 Strategic Seats, 15 Market
Seat)
o Total number of seats 25

Question 7

The Governing Council has set out an ambitious vision:

Answer 7

“Through our credential and our professional standards, we will create confidence in markets and be known for effecting positive change in the built and natural environments.”

Question 8

Management Board

Answer 8

o Advises on and implements the strategy and prepares business plan and overseas
delivery.
o Reports back to Governing Council – on activities when the GC next meets.
o Delegates powers and monitors and manages risk and resources.
o The Board is comprised of non-members (independent), members of RICS, and RICS
Executives totalling 8 board members.
o Chair, Paul Marcuse
o Sean Tompkins – Chief Executive Officer [CEO]
o Violeta Parylo – Chief Operating Officer
o Anurag Mathur FRICS
o Edgar Li MRICS
o Kath Fontana FRICS
o Natalie Cohen FRICS
o Rebecca Best FRICS

Question 9

Vision

Answer 9

To achieve the vision, the RICS is pursing the following long term strategic goals (Business Plan 2018-
2918) :
1. Influential thought leader - collaboration with others to make changes in response to the
major challenges the world faces.
2. Trusted by out stakeholders – trusted globally to set and enforce consistent standards for
the profession.
3. RICS professional qualifications remain in demand – continue demand for the RICS
qualification by highly talented individuals committing to the high level of standards and
remain relevant.
4. Sustainable 21st century professional body – continue to generate financial ability to invest
in the vision – professionals and employees continue to be engaged with the vision and
purpose – and with those consuming the products and services to be satisfied that they add
value.

Question 10

Governing council currently reviewing strategic direction – recognises that the world in which its 133,000 members work in has evolved since its last strategic review in 2018 – and believes it’s time to review the key pillars of its business plan.

Answer 10

 Standards and Regulation Board
o Approves and sets regulatory policy and Rules, ensures a fair regulatory process, and publishes
regulatory guidance.
o The Board is comprised of non-members (5 + independent) and (4 members of RICS)
o Dame Janet Paraskeva (Chair) Independent
o Reports to Governing Council.
 Audit Committee
o Monitors the integrity and effectiveness of the financial reporting, internal controls, and risk
management, and reviews the effectiveness.
o recommends the appointment of an external auditor.
o Reports to Governing Council every year at its oversights meeting on how it has discharged
its duties.
o The Board is comprised of non-members (2 + independent) and (2 members of RICS), and
reports to Governing Council.
o The Chair is Amit Shah

Question 11

Memberships

Answer 11

 FRICS
MRICS members – subject to rules of conduct are eligible to apply – but need to demonstrate 4 out
of the 12 characteristics.
1. Champion – how you have gained recognition - service to RICS/ service to another
professional body/ market or industry recognition.
2. Expert – How you have been verified as advancing, sharing, or interpreting knowledge –
qualification / Teaching / Dispute resolution
3. Influencer – how you have influenced the way professionalism is perceived – leadership /
Management / diversity and inclusion.
4. Role model – how you have exceeded standards benefitting clients, colleagues, or the public
- client care / Operation / society and environment.

 MRICS
MRICS demonstrates that RICS-qualified professionals have a chartered qualification and work to the
highest industry standards – Passed the APC.
 AssocRICS
Associate is the entry-level RICS qualification. The qualification recognises the skills of an individual
with relevant work experience and vocational qualifications.
 Trainee / Student
RICS student status is free for those on their way to a professional career in surveying within land,
real estate, construction, and infrastructure. This includes full and part-time students, as well as
apprentices.

Question 12

Bodies within RICS

Answer 12

 Matrics
All student members are automatics members of Matrics who supports new commers new members
entering the profession.
o Events include CPD seminars,
o Networking and support through the APC.
 Lion Heart
o Independent charity run by professionals for professions.
o Offers confidential advice, information, and support to past / present members of the
organisation who find themselves in difficulty.
o Financial support /health and wellbeing packages, free professional counselling, work
related support and legal service.

Question 13

Role of the RICS

Answer 13

 The RICS website states on its website that the main role of the RICS is to:
o Advancing the highest ethical and technical standards for professionals in land, property,
and the built environment.
o Protecting and providing benefits to consumers by enforcing standards and codes of
best practice.
o Providing expert impartial advice to governments, business, and the public.
o Equipping RICS members with leading edge advice, market insight and professional
training
o Promoting RICS status and standards in key worldwide markets as the mark of property
professionalism.