Ethics - Background / Structure Flashcards
When was the RICS founded?
1868
When was the RICS granted its royal charter?
1881, by the Privy Council
How many qualified members are there?
140,000
What are the levels of membership?
- FRICS
- MRICS
- AssocRICS
- Trainee
How is RICS governed?
Under terms of royal charter
How many members are in the governing council?
20 members and runs the RICS
What boards report to the governing council?
The Standards & Regulation Board and Management Board report to governing council
How many specialist groups are there?
17 specialist groups each with an elected board
Who is the chief executive officer?
Justin Young
Who is now the president?
Nick Maclean. It was Justin Sullivan. But due to his involvement as an expert witness in high court proceedings he stepped down from the role.
What is an expert witness??
A person with specialist knowledge providing court with opinion on matters with expertise to help the court reach a decision
What are the three roles of rics?
- Maintain highest standards of eduction and training
- Protect consumer through strict regulation of professional standards
- Leading source of information and independent advice
What are the benefits of RICS?
- Status
- Recognition
- Market advantage
- Networking
- Knowledge
What is the future of rics?
The Bichard Review, June 2022 due to governance failing. 36 recommendations in 7 areas:
- increase focus on Diversity
- empower and enable members
- increase focus on public interest
What are the rules for registration?
If firm providing surveying advice they must register for regulation
What information is required when registering for RICS?
- type of business
- nature of clients
- will firm be dealing with clients money
- appropriate pii cover
- have a complaints handling procedure
- name of responsible principal
- statutory regulated activity’s
