RICS Professional Content - review

Question 1

Using examples, outline the different types of professional content produced by the RICS?

Answer 1

• International standards (Internal Ethics Standards).
• Professional statement (Conflicts of Interest).
• Code of practice (Services Charges in Commercial Property).
• Guidance note (Reinstatement Cost Assessment of Buildings, Dilapidations in England and Wales).
• Information Paper (Japanese Knotweed and Residential Property).

Question 2

What is the status of the different types of professional content produced by the RICS?

Answer 2

• International standards (mandatory).
• Professional statement (mandatory).
• Code of practice (mandatory or recommended best practice).
• Guidance note (recommended best practice).
• Information paper (information or recommended best practice).

Question 3

Do you need to comply with RICS guidance notes?

Answer 3

• RICS guidance notes are recommended best practice and so are not mandatory.
• However, following guidance within the guidance notes will provide at least partial defence against claims of negligence.