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Our expenditure

As a member-led, Royal Charter body working for the public advantage we have an obligation to demonstrate the highest possible standards of openness and transparency. We are committed to meeting that obligation by providing timely, relevant and accessible information about the Institution and our work.

The distribution of RICS expenditure laid out here shows how our spend, which is set every year by our Management Board, is split across key functional areas within the organisation. This split represents the 2020/21 financial year and will be updated annually.

Showing this split of expenditure is amongst a range of steps being taken by RICS to be more transparent, acting on key feedback received from members as part of the consultation exercise conducted in the Spring of 2021 and subsequent Surveys of the Profession.

During the year we will be making further improvements to the timeliness and transparency of our financial and performance reporting to members. This will include presenting our audited accounts and financial statements to our AGM immediately following our year-end, rather than the subsequent one as has been the previous practice.

Nicholas Maclean - Chair of Governing Council (Interim)

RICS Expenditure Split - Pie Chart
RICS Expenditure Split by Functional Area

We aim to establish RICS members as experts on topics impacting the future of the built and natural environment.

Thought leadership, influence and advocacy
Thought leadership, influence and advocacy

Thought leadership, influence & advocacy

Through collaboration with key influencers, policymakers, market players and other stakeholders, we aim to establish RICS members as experts on topics impacting the future of the built and natural environment, creating a higher demand for the profession.

Based on data analysis, we demonstrate the vitality of our profession by focusing on important issues such as sustainability, technology, diversity and markets. This includes analysis of public policy and development of RICS’ policy positions, regulation and assurance of competence, as well as shaping the future for dispute avoidance, management and resolution.

Along with securing adoption of our standards, qualifications, regulation and thought leadership around the world,  the World Built Environment Forum (WBEF) is used to promote discussions of critical importance, inspiring positive and sustainable change for a prosperous and inclusive future.

Member and stakeholder engagement activities involve gathering insights in order to ensure that the prioritisation and decisions made by RICS reflect member, firm and wider market needs.

Member and Stakeholder Engagement
Member and Stakeholder Engagement

Member & Stakeholder Engagement

Member and firm engagement activities involve regularly gathering market insights, including through involved member groups, such as the World Regional Boards, national / regional boards and other member working groups and forums, in order to ensure that the prioritisation and decisions made by RICS reflect member, firm and wider market needs.

This direct engagement is further supported by the likes of the bi-annual Survey of the Profession, which all members are invited to participate in, and more focused research enabling the development of standards, guidance, products, market and sector plans, and much more.

Member engagement activities also include RICS’ marketing and communications to members and stakeholders through different digital channels such as, email, social media, and the insight communities, as well as the provision of local engagement events allowing members to network and interact with each, driven by members and enabled by RICS.

In addition to engagement with our members and regulated firms, RICS also engages directly with a wide range of stakeholders, from central government to universities, opinion formers and influencers to further gather insights and promote opportunities for the profession. 

Our members services activities are focused on the critical support provided to our members and firms, ensuring their day to day needs are being met.

Member Services
Member Services

Member Services

Our Member Services activities are focused primarily on meeting the key day-today needs of our members and firms. We ensure there is a two-way flow of communication, through various channels, with candidates, qualified professionals, employers and other key stakeholders, and that the support we provide meets the needs of these groups.

These activities include support for members throughout their careers:

  • responding to all inbound enquiries from members, public and press
  • processing of readmissions, resignations and deceased members
  • managing membership subscription renewals
  • encouraging potential new trainees / apprentices to join the profession
  • assisting our major member firms with supporting their staff, e.g. through induction activities
  • working with our Matrics structure to support young professionals

RICS offers a large portfolio of learning and training products developed by specialists and delivered by leading subject matter experts through various channels.

CPD Product Development and Delivery
CPD Product Development and Delivery

CPD/Product Development & Delivery

RICS offers a large portfolio of learning and training products supporting students, candidates and members in mitigating risk, upholding RICS’ professional standards and remaining compliant, as well as meeting their career and professional development goals.

The knowledge and competence curricula are aligned to RICS’ standards, provide the necessary assurance and are comprehensive, relevant and future-focused. They are developed by specialists and delivered by leading subject matter experts through various channels, either live or on demand.

The product portfolio includes:

  • training qualification programmes 
  • eLearning, web classes, webinars
  • conferences and summits
  • dispute resolution and conflict avoidance education
  • isurv – online knowledge tool
  • RICS Recruit – recruitment hub and job board
  • Find a Surveyor
  • Home Survey Licence Scheme
  • Awards – recognising the social impact of the profession
  • Building Cost Information Service (BCIS) – the leading source of independent building cost information

We ensure RICS members are compliant, equipped and supported to deliver the best possible services to markets and clients, now and in the future.

Standards and Regulation
Standards and Regulation

Standards & Regulation

Standards and Regulation form the foundation of RICS’ work as a professional body. They support and ensure that RICS members and regulated firms around the world practice to the highest professional standards delivering the best possible service to markets and clients, now and in the future. Stakeholders, clients and the public can be assured of the quality, technical ability and professional ethics of RICS members which are upheld through the range of RICS’ regulatory activities. 

Key areas of activity include:

  • Developing and promoting robust professional standards that address risks, maintain public confidence and are relevant to current and future needs.
  • Supporting members with professional education to encourage effective implementation of RICS standards, shared through a range of channels.
  • Ensuring RICS’ professional regulatory framework is in line with best practice, coordinated with emerging external regulation and responding to areas of risk.
  • Encouraging and upholding compliance with RICS standards through our regulatory operation, by:
    • firm registration and consumer protection schemes
    • providing analysis, intelligence and education to members regarding areas of regulatory risk
    • undertaking proactive assurance, thematic programmes and quality monitoring of members and regulated firms in respect of higher-risk activities
    • investigating concerns about regulated members and firms
    • RICS Regulatory Tribunal.

RICS’ work which supports entry to the profession, standards, regulation, Dispute Resolution Services and thought leadership are all overseen by RICS’ independently-led Standards and Regulation Board.

Each year, RICS is joined by more than 7,500 new members worldwide. Consistency of assessment standards is paramount.

Entry to the profession
Entry to the profession

Entry to the profession

Each year more than 7,000 future members start their journey to become professionally qualified with RICS. We are also joined by over 4,000 new AssocRICS and MRICS members. Candidates and trainees are supported by their counsellors, mentors, and a dedicated RICS candidate support team. Future and recently-qualified members of RICS are also supported through RICS Matrics.   

Future members join through a variety of routes relevant to school leavers to senior professionals. These routes include our work with universities to accredit undergraduate and postgraduate degree programmes around the world.

RICS assessments are conducted throughout the year involving hundreds of RICS assessors. We provide training for members who wish to become an assessor.

Consistency of assessment standards is paramount and is assured through constant quality assurance mechanisms under the remit of the Standards and Regulations Board.

Everything from ensuring legal compliance to providing the support and tools for our employees to work, and general maintenance of our offices.

Central Services
Central Services

Central Services

RICS has the usual supporting team functions such as HR, Finance, Technology etc. as well as specialised teams ensuring legal compliance, providing the support and tools for our employees to work, and general maintenance of our global offices.

The Governance team is responsible for implementing governance arrangement and facilitating key decision-making. The function also overseas and manages the legal entity structure across the RICS Group.

This functional area also includes internal communications functions, sharing important updates and insights with RICS employees on how their important work benefits the profession.