Activities
Please select the surveying activities undertaken by your firm. Once you have selected all the activities undertaken by your firm, please state the top five surveying activities in order of importance e.g. 1, 2, 3, 4, 5 with 1 being the most important.
Please select all activities that your firm carries out. You can select as many, or as few, activities as is appropriate to your firm, provided that you select at least one option from the list. If your firm does not carry out any of the listed activities please select "other".
You must rate at least one activity with the importance value 1. Importance values must be entered in sequence 1, 2, 3, 4, 5.
We require this information so that we can send targeted regulatory information, particularly regarding legislative changes.
You may wish to review the firm's professional indemnity insurance proposal form to assist you in completing this section.
Professional Indemnity Insurance
What was the firm's annual turnover in the last completed accounting period? Please provide an estimate if this is your first year of trading.
We require this information so we can monitor firms effectively by taking into account their size and turnover.
Does your firm have professional indemnity insurance in place that complies with the rules?
Rule 9 of the Rules of Conduct for Firms states:
A Firm shall ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity insurance cover which meets standards approved by the Regulatory Board.
The nature and extent of the insurance or other indemnity need neither meet nor exceed current UK requirements but must be adequate and appropriate having particular regard to:
- The nature and extent of the risk incurred in local practice
- The local conditions in the jurisdiction in which the firm is practising
- The terms upon which insurance or other indemnity is available locally
- Any local requirements and legislation applicable in the jurisdiction relating to the purchase of such insurance.
If no, please provide details including any alternative cover the firm has.
Complaints
How many complaints has the firm received in the last 12 months, including those notified to your insurers? If none please enter 0.
We require this information so we can monitor firms effectively by taking into account how many complaints a firm has received and giving assistance if required.
Have any allegations/instances of fraud and/or dishonesty been made against the firm or its employees?
RICS needs to be informed of allegations/instances of fraud and/or dishonesty. This applies to the firm, its principals, and employees.
Please note that information concerning the above will not necessarily lead to action from RICS - if in doubt please ask RICS Regulation.
We require this information in line with Professional and Ethical standards.
If yes, please provide brief details
Please provide details of the allegations/instances of fraud and/or dishonesty, and those involved in the matter who are connected to your firm.
Does your firm have a complaints log?
The first line of Rule 7 of the Rules of Conduct for Firms states: "A Firm shall operate a complaints handling procedure and maintain a complaints log." You should have a log ready, even if you have not yet received any complaints.
Does the firm have a Complaints Handling Procedure (CHP)?
A CHP is a process that a complainant can use to resolve their issue. The CHP should comply with the Rules and must include a redress mechanism that is approved by the Regulatory Board. Please note that the 2007 rules have changed in that there must be free redress available to consumers.
Please provide more information
Please provide details of the redress mechanism you use.
What percentage of your work is for consumer clients (ie for clients who are not operating in a business capacity)?
This information is useful to RICS when looking at appropriate redress mechanisms in the future.
Clients' Money
Does the firm hold clients' money?
Clients' money can be defined as any money held or received by the firm, which does not solely belong to the firm. This is money held in trust by a member on behalf of third parties and which is not due to the member or his firm (received by cash, cheque, bankers' draft, electronic transfer).
Examples of clients' money are: tenant's deposits, rents, service charges, interest and proceeds from sales at auction etc. If you hold fees in advance of completing work this may also be categorised as clients' money.
If your firm ceased holding clients' money in the last twelve months, please enter the date clients' money was last held.
This must be a date in the past. If your firm is going to stop holding clients' money in the future, please inform RICS Regulation at the time of the change.
If your firm started holding clients' money in the last twelve months, please enter the date clients' money was first held.
This must be a date in the past. If your firm is going to begin holding clients' money in the future, please inform the regulation department at the time of the change.
What is the maximum amount of clients' money held at any one time in the last 12 months?
Having this information will help us plan when we conduct regulatory review visits and will help the visiting accountant to understand the extent of clients' money activity within the firm.
What is the estimated average amount of clients' money held per month in the past 12 months?
Having this information will help us plan when we conduct regulatory review visits and will help the visiting accountant to understand the extent of clients' money activity within the firm. An approximate figure is acceptable for this entry.
How many clients does the firm hold money for?
Having this information will help us plan when we conduct regulatory review visits and will help the visiting accountant to understand the extent of clients' money activity within the firm.
How many client bank accounts does your firm operate?
General client bank accounts
This needs to include all general client accounts held at the time you are completing this return.
Discrete or designated client bank accounts
Discrete client accounts are those held and used for one client only. A discrete account will usually incorporate the name of the client in the title.
Auction or farm sale bank accounts
In an auctioneering context, clients' money is the amount received from purchasers and held by the auctioneer on behalf of vendors, less any amount due to the auctioneer for commissions and costs incurred.
Bank accounts not wholly controlled by the firm
This usually occurs when both the firm of Chartered Surveyors and the client can withdraw funds from the account. The money held in such an account is not classed as clients' money.
What was the approximate total number of receipts and payments processed through all client accounts in the last twelve months?
Approximate figures can be estimated from the bank statements.
Having this information will help us plan when we conduct regulatory review visits and will help the visiting accountant to understand the extent of clients' money activity within the firm.
Has there been any loss of clients' money as a result of theft, misappropriation or accounting errors within the last twelve months?
If there has been any loss to clients' money as a result of: banking errors, overdrawing on client ledgers, incorrect withdrawals, administration errors, theft, 'cyber' crime, etc the firm should immediately reimburse it from office funds and notify RICS of the loss.
If yes provide details of the loss.
Please provide brief details of the loss, including the amounts concerned and the circumstances surrounding the loss.
Has the clients' money been reinstated from the office account or other source?
The firm should immediately reimburse losses from office funds.
Is there, or has there been, any surplus money in the client account relating to clients who cannot be traced?
If there has been surplus identified as a result of: banking errors, administration errors, etc the firm should immediately attempt to identify the client(s) concerned.
If yes, please provide details of the surplus and what action has been taken.
Please provide brief details of the surplus, including the amounts concerned, the circumstances surrounding the surplus and action taken to resolve it.
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