Our regulatory model applies globally to all individual members of the profession and all RICS regulated firms.
14 NOV 2018
In July and August, RICS and our partner Research by Design, an independent research company, concluded the initial phase of our first thematic review.
We collected information on the profession’s implementation of the Conflicts of Interest Professional Statement, 1st Edition, March 2017.
In particular, we looked into the extent of recognition, use and understanding of the Professional Statement, the types of processes in place within certain types of firms, and how conflicts are identified, recorded and communicated. We asked firms to provide us with information on these matters through a questionnaire. A great number of firms from around the world and active in different sectors responded. This provided us with a comprehensive dataset.
Those firms who have agreed to share their details with us have received preliminary findings.
The second phase of the research is currently being planned. This will involve RICS asking more in-depth questions of a small representative cross-section of firms to follow up on the key themes identified in the initial research and draw out areas of risk and best practice. The results will be publicised early next year, and details will be available on the RICS website. This will give all firms more insight into how to remain compliant with the Professional Statement and how to manage conflicts of interest in practice.
RICS regulation is going to undertake its first thematic review: research into a specific area of risk in surveying work, practice, or the implementation of a standard.