Our News

**1. Organization Overview:**
– Founded in London in 1868 as the Institution of Surveyors.
– Received Royal charter in 1881 and became the Chartered Surveyors Institution in 1930.
– Renamed the Royal Institution of Chartered Surveyors in 1947.
– International presence with headquarters in London and regional offices worldwide.
– Accredited professionals in nearly 150 countries.
– Founding member of the International Federation of Surveyors.

**2. Membership and Professional Designations:**
– Entry via academic, graduate, technical, or senior professional routes.
– Continuing Professional Development required for all members.
– Designations include AssocRICS, MRICS, FRICS, and HonRICS.
– MRICS requires Assessment of Professional Competence interview.
– Specializations include Chartered Building Surveyor and Quantity Surveyor.

**3. International Standards and Governance:**
– Founder member of the coalition for International Property Measurement Standards.
– Developed standards for office space and residential buildings.
– Published International Construction Measurement Standards.
– Founder member of the International Valuation Standards Committee.
– Governed by a council, management board, standards and regulation board, and an audit committee.

**4. Financial Challenges and Leadership Changes:**
– Reported a pre-tax loss of £4.7m in 2019.
– Trust among members dropped significantly.
– Several resignations including the CEO, president, and chair of the governing council.
– Governance review initiated in response to financial difficulties.
– Calls for restructuring of leadership and new governance practices.

**5. Reviews, Recommendations, and Future Direction:**
– Levitt review highlighted governance failures and lack of scrutiny.
– Recommendations included a focus on public interest, diversity, and inclusion.
– Implementation of recommendations crucial for permanent improvement.
– Review led by Michael Bichard recommended significant reforms.
– Focus on increasing influence overseas and creating a new sense of purpose for RICS.