How does the RICS rebuild its reputation?

By Tom Lowe2021-02-01T10:15:00

A disagreement with four directors has turned into a wider dispute about the institution’s purpose and direction that has left its members angry and disillusioned. Tom Lowe analyses the issues

It was on 13 December last year that the first details of a scandal that has since engulfed the RICS began to surface. The Sunday Times revealed that a financial report into the RICS’s treasury management processes had not been shared beyond its audit committee.

After months of wrangling with the RICS management board, four non-executive directors, who had learnt of the existence of the report in early 2019, obtained a copy. The report, by accountant BDO, turned out to be damning. But, when the four directors raised concerns about how it had been handed, they were abruptly dismissed.

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