You have no items in your shopping basket.
Key facts and statistics
- Global reach - RICS operates in over 150 countries with more than 134,000 qualified and trainee professionals.
- Membership - Over 91,000 RICS-qualified professionals worldwide.
- Standards - RICS standards are internationally recognised, influencing global practices in land, property, and construction.
- Economic Impact - The UK construction industry, where RICS is highly influential, contributed £117 billion to the economy in 2020.
Key definitions
- Chartered surveyor - A chartered surveyor is a professional member of RICS who has completed the requisite education and training and has passed rigorous assessments to achieve this status. They are bound by RICS standards and ethical guidelines.
- RICS standards - RICS standards encompass a range of guidelines and codes of practice that ensure professionals perform to the highest level of competence and integrity. These include the RICS Valuation – Global Standards (Red Book), RICS Code of Measuring Practice, and RICS Property Measurement.
The importance of RICS in the industry
RICS ensures that its members adhere to stringent professional standards, which include:
- Ethics and conduct - Upholding the integrity of the profession by adhering to a code of ethics.
- Competence - Ensuring that professionals maintain and enhance their skills and knowledge through continuous professional development (CPD).
- Consumer protection - Providing reassurance to consumers and stakeholders that RICS members operate to high standards of professionalism.
Recommended best practices for compliance
Organisations should adopt the following best practices to align with RICS standards and comply with relevant legislation and regulations:
- Regular training and CPD - Ensure that all staff involved in surveying and property management undertake regular training and CPD. This keeps them updated on the latest industry standards and regulations.
- Adherence to RICS standards - Implement RICS standards across all relevant operations. This includes the Red Book for valuations and the Code of Measuring Practice for property measurements.
- Ethical practices - Maintain high ethical standards in all dealings. This not only enhances the organisation's reputation but also ensures compliance with RICS ethical guidelines.
- Quality assurance - Regularly audit and review practices to ensure they meet RICS standards. Use internal and external audits to identify and rectify any areas of non-compliance.
- Use of technology - Leverage technology such as ComplyPlus™ to manage compliance. This software helps track legislative changes, manage training, and ensure that all practices align with RICS and other regulatory requirements.
The role of RICS in professional development
RICS provides a structured framework for professional development through its assessment of professional competence (APC) process. This ensures that individuals entering the profession are well-equipped with the necessary skills and knowledge.
Ensuring standards in valuation
The RICS Red Book is a comprehensive guide that outlines mandatory practices for RICS members undertaking valuations. Adhering to these standards is crucial for maintaining valuation accuracy and reliability, which is essential for market stability and consumer confidence.
The impact of RICS on the built environment
By promoting best practices in construction and property management, RICS contributes to creating safe, sustainable, and efficient buildings and infrastructure. This has a direct impact on public safety and environmental sustainability.
RICS and legislative compliance
RICS standards often complement and enhance legislative requirements. Adherence to RICS standards can help organisations meet requirements set out by the Health and Safety Executive (HSE) and other regulatory bodies.
Recommendations
- Engage in regular training - Invest in RICS-accredited training programmes to ensure all staff are up-to-date with the latest standards and practices.
- Implement compliance software - Utilise tools like ComplyPlus™ to manage and track compliance with RICS and other regulatory requirements efficiently.
- Adopt a culture of continuous improvement - Regularly review and update practices to ensure ongoing compliance and improvement.
Conclusion
The Royal Institution of Chartered Surveyors plays a critical role in ensuring that the property and construction industries operate to the highest standards. By adhering to RICS standards, organisations can enhance their professionalism, ensure compliance, and contribute to creating a safer and more sustainable built environment. For comprehensive support in meeting these standards, consider using ComplyPlus™, our premier compliance management software.
Click here for more information on how ComplyPlus™ can help your organisation achieve compliance with RICS standards and other regulatory requirements.
About the author
Dr Richard Dune
With over 20 years of experience, Richard blends a rich background in NHS, the private sector, academia, and research settings. His forte lies in clinical R&D, advancing healthcare tech, workforce development and governance. His leadership ensures regulatory compliance and innovation align seamlessly.
