Find out the latest updates on the independent review into the events that took place in 2018 and 2019
On 21 January 2021 RICS Governing Council voted unanimously to proceed with an independent review into the events that took place in 2018 and 2019.
Alison Levitt QC has been appointed to conduct this independent review, which focuses on issues raised following the commissioning by the RICS Audit Committee of a Treasury Management Audit in 2018. Independent Reviewer Alison Levitt QC will be assisted by barrister Christopher Foulkes, also of 02 Hare Court Chambers. They are instructed by Kingsley Napley, Solicitors to the Independent Review.
A Steering Committee drafted the terms of reference. This committee is made up of members of Governing Council who took up their positions more than a year after the events, which form the subject of the independent review, took place. They are Nick Maclean (Chair), Marion Ellis, Uche Obi, Martin Eberhardt and Rob Wilson.
The findings and recommendations of the independent review will be published here when the review is complete.
The Governing Council of RICS has established a steering group to lead on progress in delivering Alison Levitt QC’s recommendations following the independent external review published in September.
The steering group is currently comprised of members of Governing Council and a representative from the independent Standards and Regulation Board, with David Sandbrook FRICS serving as chair.
"I'm honoured to chair this team of professionals dedicated to the timely, transparent implementation of Alison Levitt QC's 18 recommendations for the RICS. We have already acted swiftly to deliver progress on many of the recommendations, with our initial focus being the establishment of an independent review into RICS’ purpose, vision and strategy."
Alongside members of the RICS staff, this steering group will deliver the remaining recommendations from the independent review, which include a new whistleblowing policy; updates to governance documents; embedding the new Values Statement; and external reviews into governance, purpose and strategy and senior executive reward.
The Royal Institution of Chartered Surveyors (RICS) is today announcing the appointment of its new interim leadership team to drive the further modernisation of the Institution.
RICS Governing Council has made the appointments for a period of up to 12 months to lead the institution in delivering necessary reforms, following Alison Levitt QC’s report. The team’s focus will be to work with Governing Council, members and staff to rebuild trust in the Institution through the implementation of the Levitt review recommendations.
The team will work with Governing Council, which is comprised of elected members of the profession, to commission the review of governance, purpose and strategy, consider its findings and begin to implement the review’s recommendations.
Nicholas Maclean, RD, FRICS, has been appointed interim Chair of Governing Council.
Richard Collins, who joined RICS in 2019 as Executive Director of the Profession, has been appointed interim CEO.
Isobel O’Regan, FRICS, an elected member of Governing Council, has been appointed interim Chair of the Management Board.
Please see the Leadership Update Press Release included in the Latest Documents below for more details.
Today, Governing Council have provided a detailed update on progress made in response to all 18 recommendations in Alison Levitt QC’s review. They have also published a Values Statement, emphasising the culture and behaviours expected of all who represent RICS, as well as the public apology letters to the former non-executives and members of Governing Council 19 (GC19). All of these updates are available under “Latest Documents.”
Alison Levitt QC was commissioned to conduct an independent review into historic treasury management matters and subsequent actions at RICS.
The Levitt Report will be formally published today (Thursday 9 September) at midday BST.
We are fully committed to transparency, in both the process of publication and RICS responses to the finding.
To this end, the press event will be delivered by Nick Maclean FRICS, Chair of RICS Governing Council Steering Committee and member RICS Governing Council Advisory Group, and Alison Levitt QC. Ms Levitt will also be joined by her Senior Counsel, Christopher Foulkes.
The press conference will allow members of the Press to pose questions to Nick Maclean and Alison Levitt QC. All RICS employees and members are welcome to view the press conference too by clicking on this link: https://app.sli.do/event/lgefwlsq
If you cannot view the conference in real time, it will be available to watch at any time via the RICS YouTube channel: https://www.youtube.com/user/ricsmediacentre
The Governing Council of RICS is now in receipt of the Independent Review delivered by Alison Levitt QC and is in the process of carefully considering its findings and recommendations. We will issue a formal response once this process has concluded.
The Governing Council of RICS has today published the Independent Review by Alison Levitt QC into the events that took place following the commissioning of a Treasury Management audit in 2018 and has voted to accept all her recommendations.