RICS Flashcards
Who are the current RICS officials?
(President, President Elect, CEO, Senior Vice President)
President - Tina Paillet
President Elect - Justin Sullivan
CEO - Justin Young
Senior Vice President - Nick Maclean
What is the RICS Motto
There is measure in all things
What year was the RICS Founded
1868
What is the structure of the RICS
Privy Council sits at the top
Followed by the Governing Council below
Tribunals, Boards and Committees sit below (Regulatory Tribunal, Regulation Board, Management Board, Audit Committee)
What is the role of the Governing Council
They set the Global Strategy
They ensure the RICS complies with Royal Charter requirements
What is the Royal Charter
It was granted in 1881 by the Monarchy
To promote the use of the profession to the public
Bichard Review
What is it & what are its outcomes
An independent review commissioned by the RICS Governing Board
It was commissioned following the Levitt Review and aimed to create a new sense of purpose and direction of the RICS
The review advised 36 recommendations. Some are
- Commercial activity will be separated from other RICS activities
- RICS Matrics should give younger members a stronger voice and a young member seat created on the Governing Council
- A D&I and Sustainability Panel will be set up
What RICS initiatives are you aware of?
Lion heart - is the charity for RICS professionals, past and present, and their families
What RICS Memberships are there
Trainee (BSC)
Chartered Member
Associate
Fellow
Where do the Bye Laws sit?
There are 10 Bye Laws which sit under the Royal Charter
The 10 regulations sit under the Bye Laws
What do Bye Law and Regulation 5 relate to
The Rules of Conduct for firms and members
What are the 5 Rules of Conduct
They came into effect on 2nd Feb 2022
1. They must be honest, act with integrity and comply with professional obligations including obligations to RICS
2. They must maintain their professional competence and ensure services are provided by competent individuals
3. They must provide good quality and diligent service
4. They must treat others with respect and encourage diversity & inclusion
5. They must act in the public’s interest, take responsibility for actions and act to prevent harm and maintain public confidence in the profession
Explain your understanding of Rule Number 1
They should not allowa themselves to be influenced through gifts and hospitality
Identify conflicts of interest
Explain your understanding of Rule Number 2
They should only act for clients where they have the necessary skills and resources to carry out the work competently
Explain your understanding of Rule Number 3
They should understand the client’s requirements and agree scope of services prior to signing up to formal terms of engagement
Explain your understanding of Rule Number 4
Treat all fairly and elimate discrimination against protected characteristics
Firms should have anti-bullying and harassment policies in place