Rules for Registration of Firms, Professional Standards Flashcards
- Are you aware of any rules for registering a firm with the RICS?
Rules for registration of firms Version 8 came into effect in Feb 2022
- When is a firm required to register with the RICS?
A. If the Firm provides surveying services
B. If the Firm operates in Regulated Area A
C. If 50% of the Firm principals are RICS members
- Under what circumstances are firms eligible to register?
A. If the Firm provides surveying services
B. If 25% of the Firms principals are RICS members
o Also the head of regulation can allow a firm to enter if they believe that within a reasonable amount of time that regulation 4.1 (B) will be satisfied or that the Firm is fully supported by another firm that meets all the criteria in 4.1 (A)
- What is a locum?
o A firm with a sole practitioner must have arrangements in the event of their death or incapacity. A locum I another professional who will stand in for the sole practitioner if they are unable to work (Holiday cover, illness, incapacity, or death)
- Who can be a locum?
Technically a locum will be another chartered surveyor but could be an accountant or solicitor (a trustworthy professional)
- How does PII cover relate to Locums?
Locums must be covered for any work undertaken. This can be through their own PII or under the firms cover.
- RICS professional standards – What are the various standards and what this their status?
Professional statement – Mandatory requirements along with regulatory interventions if these requirements are not met.
Guidance notes – These are not mandatory but rather “should.” These are recommendations on best practice
Assessment of professional competence (APC) These are the requirements and guidelines relating to entry into the profession
Data standards – These ensure software programmes and technology can adopt RICS standards into their offering
- Why do the RICS publish guidance notes and why do Chartered Surveyors have to follow them?
These are published to promote best practice and provide advice on how to complete certain activities.
They should be followed. Members should remain up to date to ensure they are competent. If there is ever a professional negligence claim and a member has not followed a guidance note the courts or adjudicator may review these documents to determine whether the member has acted competently.
- What is the “black book”?
This is a suite of guidance notes that define good technical standards for quantity surveying and construction professionals.
