RICS Background and Role

Question 1

What is the historical origin of the RICS?

Answer 1

RICS was founded on 15 June 1868 as the Institution of Surveyors and received its Royal Charter on 26 August 1881.

Question 2

What significant changes occurred to the RICS governance in 2018-2019?

Answer 2

In November 2018, members voted to modernize the governance structure, including creating a globally diverse Governing Council and establishing a new role of Chair of the Governing Council.

The changes were ratified by the Privy Council on 13 March 2019 and updated in February 2020.

Question 3

What are the key components of the RICS governance structure?

Answer 3

The key components include the Governing Council, Management Board, Standards and Regulation Board, and Audit Committee. The Governing Council sets strategic direction, the Management Board implements strategy, the Standards and Regulation Board oversees regulatory policy, and the Audit Committee monitors financial integrity.

Question 4

What are the membership levels within RICS?

Answer 4

Membership levels include
FRICS (Fellow),
MRICS (Member),
AssocRICS (Associate), and
Trainee/Student.

Each level signifies different stages of professional qualification and experience.

Question 5

What are the primary roles of RICS according to its website?

Answer 5

RICS aims to
advance ethical and technical standards,
protect consumers by enforcing standards,
provide expert advice,
equip members with training and insights, and
promote RICS status and standards globally.

Question 6

What is the principle of better regulation

Answer 6

Proportionality
Accountability
Consistency
Targeting
Transparency
P A C T T

Question 7

Who is the curent President of RICS

Answer 7

Tina Paillet

Question 8

Who is CEO of RICS

Answer 8

Justin Young

Question 9

What is the RICS Motto

Answer 9

Est Modus in Rebus
(there is measure in all things)