RICS Information Flashcards
What is the RICS Motto?
Est Modus in Rebus
What is the RICS mission statement?
- To qualify and equip their members to offer the highest standards of professional service.
- To promote and enforce standards.
- To lead solutions to the major challengers facing the built environment.
When was RICS founded?
15th June 1868
How is the RICS structured?
Royal Charter being granted by the privy Council in 1881.
The RICS is self-regulated and internally monitored meaning that it is not regulated by the government.
The Bye-Laws determine how the RICS is regulated.
The governing council manage and agree the strategy for the RICS.
The Regulatory board, audit committee and management board are beneath the governing council and execute the strategy set by them.
What is the RICS governing council?
The Governing Council is the highest governing body and sets RICS global strategy and ensures RICS fulfils its Royal Charter obligations.
Who is the president of RICS?
Ann Grey
Who is the president elect of RICS?
Tina Pailliet FRICS
Who is the chief executive of RICS?
Justin Young
What are regulations?
The regulations add further detail to the bye-laws and sets out the different classes of membership and contains further details of when fees are payable ect
There are 10 regulations in total
What are Bye Laws?
The Bye-Laws are set out in the Royal Charter and determine how the RICS is regulated.
There are 10 Bye-Laws in total for example, Bye-Law 4 ‘Contributions to Funds’ grants that the Governing Council are able to set Annual Subscription fees.
What are the five principles of better regulation?
- Proportionality
- Consistency
- Accountability
- Transparency
- Targeting
Why have rules of conduct?
To provide a framework that we can all work to and so the client knows they are getting a set level of service.
As well as being an important tool for the institution, the Rules of Conduct are also a useful professional guide for individual institution members.
