RICS draws up 21st century governance model

The Royal Institute of Chartered Surveyors (RICS) has announced it is modernising its governance model to become a more effective and business-like professional body. In Europe the implementation of this new structure is well on track ensuring consistency across all countries as well as a better quality of services to members and the general public, RICS said.

RICS has developed rapidly as a large and fast-moving international organisation with a single global vision: to be 'the mark of property professionalism worldwide'. To support this vision the organisation is redefining its legal and operational structures to ensure optimum compliance with tax, financial and employment requirements in every geographical area where it is active.

Under the new RICS governance model, RICS' Governing Council, the representative strategic member body within RICS, will consider and approve the overall strategic direction of the Institution, while the day-to-day operational accountability of RICS will be managed by a Management Board composed of nominated members operating in a non-executive capacity, independent non-executives from the wider business world, and executive staff.

Moreover, RICS will have six world regions consisting of RICS Americas, RICS Asia, RICS Europe, RICS MENEA (Middle East, Near East and Africa), RICS Oceania and RICS UK. In all of these regions, the World Regional Boards made up of small groups of members acting as non-executives together with executive staff will deliver the global RICS business plan in their respective geographical areas.

In RICS Europe, with approximately 4,000 qualified members, such a move implies that those locally registered legal entities that in the past were governing RICS national groups in about 20 European countries are now being replaced by more effective RICS common legal structures.

Based upon the decision taken in July 2008 by an overwhelming majority of the RICS global membership to modernise the RICS governance system, a new RICS Europe Board, covering a broad skills range, was set up in December 2008. This Board is working with the different European countries to move towards the new more harmonised model ensuring that the same RICS brand and high standards apply everywhere across continental Europe.

RICS Europe is also collaborating with the National Groups to set up new National Boards, identifying through a transparent and objective process the most skilled and competent group of members in each country. New boards have been set up to-date in Russia, Cyprus, Poland, Romania, Switzerland, Czech Republic, Netherlands, with the others following in the coming weeks and months.