RICS /General questions Flashcards
How is the Privy council Associated with RICS?
Government organisation that Grants and awards royal charter
When was RICS founded, when did it receive its royal charter?
- Founded 1868 ,
* Royal charter 1881
What is the aim of the RICS?
- Regulate and promote the profession.
- Maintain the highest educational and professional standards.
- Protect clients and consumers through a strict code of ethics.
- Provide impartial advice, analysis and guidance
What are some key facts?
- 500 staff, 140k members globally.
- Annual turnover of £50m
- Over 140 countries (146)
- For MRICS there is 22 pathways
Who is the current president, Vice president and their role?
Clement Lau FRICS (Development and valuations)
Tina Paillet – RICS Senior Vice President (asset management, sustainability investment)
Ann Gray FRICS – RICS President-Elect
Sean Tompkins stepped down
Can you tell me a recent CPD event you attended and why it was relevant?
- Equality and Diversion week –
- Enforeced how everyone needed to be treated with respect, uncounsius biases.
- How this increases productivity
- Makes it a better place to work.
Are you aware of the New ethical standards?
- I am aware that the new ethical standards which are in a simpler structure and are for both Firms and members rather than split with the current rules
- They are 5 ethical standards
- One example is Rule 3 members and firms must provide good-quality and diligent service
- Comes into force February 2, 2022.
- Changes include for firms to encourage diversity, fair and inclusive profession and support all surveyors regardless of differences
What was the Alison levitt report about?
- An audit in 2019 was not shared and 4 members raised their concerns and we wrongly dismissed from the management board
- Chief executive (Sean Tompkins) resisted on being challenged and share the report
- He used the structure of RICS to defend themselves
- In the 2019 report The RICS’ extended its overdraft facility without informing the management board. The report found unidentified fraud, misappropriation of funds and misreporting of financial performance
- Alison Levitt reported the findings and RICS has fully taking it on.
What has been some of the recommendation of the Alison levitt report?
- Greater oversight for governing council
- Financial bonuses at senior executive level to be reviewed
- Whistle-blowing procedures should be overhauled
- External legal advice should be given in the basis that RICS is the client, not its senior management.
What has changed in the industry since Grenfell?
Fire safety Bill
- Introduces a ‘responsible person who could be the owner for multi-occupied, residential buildings. The responsible person is to manage fire risk of:
- The structure and external walls of the building (e.g. cladding, balconies and windows)
- Entrance doors to individual flats that open into communal areas
If not complied you will get a fine.
Fire and Rescue Authorities can now better identify the Responsible Person for these parts. This will clear the path for enforcement action against and/or prosecution of any Responsible Person who fails to comply with the FSO
How will brexit affect the industry?
- Less EU workers (1/3 of London construction workers)
- Points based systems particularly for commonwealth countries
- Training initiatives for UK workers
- Utilize MMC which should bring down number of labour requirements
- Supply of materials may be affected by delays, tariffs and taxes
- Potential for less foreign investment
What is the RICS doing about Covid19?
- Section on the RICS website
- Assessments by skype
- Free training and CPD
- Advice for professions to return to work
- Providing research on Covid-19 (for eg. rethinking city centre living and reopening for businesses)
How has Covid 19 affected the construction industry?
- Before government action, delays due to sickness or self-isolation
- Only essential utilities connections
- Not rendering projects impossible to complete.
- Slowing projects down,causing delay and disruption
- Supply chains disrupted - many suppliers stopped manufacturing completely
- Many overseas supplies have stopped
- Many projects have even stopped, usually with the intention to resume work at a later date.
- Redundancies are being made
- Clients pulling out of work
- Contractors starting to put clarifications regarding corona in their tenders
- Many staff been furloughed.
What is the UKs target to achieve carbon zero?
- The UK already passed a framework law for cutting emissions in 2008, so setting a net zero target is as simple as replacing 80% with 100%.
Net Zero by 2050
How has Covid affected your role as a QS?
- Offices closed - using Microsoft teams and skype to communicate
- Sites closed - nil valuations
- Sites closed - force majeure claims ( no tried and tested case in courts yet)
- RICS article about accelerating change with regards to BIM usage, offsite manufacturing (to reduce issues with workmanship, social distancing, health and safety and wastage).
Can you give me an overview of the RICS governance structure?
- Privy council that awards the royal charter to the governing council
- Then the regulatory tribunal independently reports to the governing council
- Several other bodies such as the management board and the audit committee report to the governing council
- Under the management board you have the finance committee
