RICS Information Flashcards
What is the RICS motto?
“Est Modus in Rebus” Latin which translate to “there is measure in all things”
What is the RICS mission statement?
1) to qualify and equip their members to offer the highest standards of professional service
2) to promote and enforce standards
3) to lead solutions to the major challenges facing the built environment through professional expertise
When was RICS founded?
1868
What’s the RICS leadership team?
President - Tina Pallet
President elect- Justin Sullivan
Chief Executive- Justin Young
What are by-laws?
Are set out in the Royal Charter and determine how the RICS is regulated
There are 10 by-laws for example by-law 4 = “contribution to funds” which states that the governing council are able to set Annual Subscription Fees
What are the 5 principles of better regulation?
Proportionality
Accountability
Consistency
Targeting
Transparency
Why have rules of conduct?
To provide a framework that we can all work to and so that a client knows they are getting a set level of service
What is RICS
A global professional body for people working in the built environment
How is RICS structured?
RICS is governed under the terms of its royal charter, by various internal councils and boards including the standards, regulation and management board who report to the governing council
What’s the difference between RICS ethics and rules?
Ethics are a set of moral values
Rules of conduct are a framework that we work to
Name some parts of the rics governance structure
Governing council
Standards & regulation board
Privy council
Rics board
What are the roles of RICS?
Global leading professional body promoting the highest standards in the property industry
Gold standard of professional regulation
Name some of the RICS regulations ?
There are 10 in total
Egs:
Membership & Registration
Conduct
Accounts & Audit
What are the 3 main roles of the RICS?
1) to maintain the highest standards of education and training
2) to protect consumers through strict regulation
3) to be the leading source of information and advice on land and property
