RICS in general Flashcards
What matter might the RICS investigate?
- Failure to use a Complaints Handling Procedure
- Conflicts of interest
- Misuse of Client’s money
- Failure to answer correspondence
- Allegation or a conviction of a criminal offence
What is the role of the Standards and Regulation Board?
The Standards and Regulation Board has exclusive responsibility for strategy, policy and operational oversight of the standards, entry and admission to the profession (through RICS education and qualification standards) and regulatory functions of the RICS.
What is the Royal Charter?
- Awarded in 1881 by Queen Victoria.
- The Royal Charter requires the RICS to promote the usefulness of the profession for the advantage of the UK public and in other parts of the world.
- In practice, the charter means that important changes to the constitution - its bye-laws - must be ratified by the UK Government, through the Privy Council
Where are the RICS’ international headquarters location?
12 Great George Street, Parliament Square, London.
What is the motto of the RICS?
‘Est modus in rebus’ - There is measure in all things.
What is the RICS?
- Royal Institution of Chartered Surveyors
- The world’s leading professional status in land, real estate, infrastructure and construction.
- One of the most respected and high-profile international institutions that offers advice on property, construction, project management, dispute resolution and environmental issues to various clients and the public.
What is the role of the RICS?
- Regulate and promote the profession
- Maintain the highest education and professional standards.
- Protect clients and consumers through a strict code of ethics and professional standards.
- Provide impartial, advice, analysis, and guidance
What is Lionheart?
- Lionheart is an independent charity run by RICS professionals, for RICS professionals.
- Benevolent fund established over 100 years ago.
- Offers advice and in certain circumstances financial assistance.
- It is independent to the RICS.
- Provides support to current and past members of the RICS and their families.
What was the Carsberg Report, 2005?
- Carsberg was invite to carry out a review of the RICS regulatory framework.
- The reasons for wanting a review were both external and internal. Several reviews of other professional bodies suggested that public expectations had changed and there was some evidence that members were unhappy with some aspects of RICS regulation.
What are the RICS 5 principles for better regulation?
- Accountability
- Consistency
- Proportionality
- Targeting
- Transparency
What benefits for RICS membership / Why did you want to be an MRICS?
- RICS is the largest international property organisation in the world. By joining I will get global recognition and will become part of an international professional community.
- I will get elite professional status, guidance, information and support.
- Technical resources to support my profession.
- I will be part of promoting best practices in the profession.
- Benefit to our clients.
Who is the Governing Council?
The Governing Council set strategy, direction and manages the royal charter obligations.
What are the RICS byelaws?
RICS bye laws are set by the privy council, and set the skeleton that RICS regulation (rules for firms and members) is set from. There are 10 byelaws. Bye law 5 is where the rules for Firms and Members comes from. The bye laws are:
1 – Application and definition
2 – Membership and registration
3 – Designations
4 – Contributions to funds
5 – Conduct
6 – Governing Council offices and staff
7 – Subordinate boards committees and groups
8 – Procedure for general meetings
9 – Accounts and audit
10 – General
is there anything the RICS cannot do?
- They cannot deal with concerns or complaints about anyone who is not a member of the RICS
- Pay compensation or instruct a member to do so (this is for redress scheme, refer to CHP)
- Determine whether a member or firm has acted negligently (this is for the courts to decide)
- Interfere with or become involved in court action against a member or firm
What is the RICS Matrics?
RICS Matrics aim to help those who have just joined the profession by providing a network for those to connect between and providing training opportunities to students, trainees and those newly qualified.
