Articles appeared in the press alleging that RICS tried to suppress a critical internal report into its finances in 2018/19 and then unfairly dealt with those who sought to explore the issue.
RICS commissioned an Independent Review in relation to these issues. It was led by a senior barrister, Alison Levitt QC. On 14 April 2021, Ms Levitt QC set the revised Terms of Reference for the Review.
12 August 2021
THE INDEPENDENT REVIEW OF RICS TREASURY MANAGEMENT AUDIT ISSUES DELIVERS ITS REPORT
Alison Levitt QC delivered her report of over 400 pages to the Chair of the Steering Committee of Governing Council. Ms Levitt advised the Steering Committee that the members of Governing Council should take time to consider her report before deciding what action to take in relation to it.
Ms Levitt QC said: “I would like to express my personal thanks to all those who have contributed to the important work of the Independent Review, including the many members of RICS who responded to my call for evidence: I was struck by the passion about RICS expressed by all those to whom I spoke. RICS’ Governing Council will now need an opportunity carefully to consider my report and recommendations before making any decision about next steps.”
Call for Evidence
On 30 April 2021, Ms Levitt issued a call for evidence.
She invited submissions from as many people as possible who could offer insight into the issues which formed the subject of the Review.
She was particularly keen to hear from:
- Current and former members of RICS
- Current and former Directors and Officers of RICS
- Journalists
- Others with an interest in the governance of RICS
Contact
During the call-for-evidence period, the Review operated a secure and confidential email address at [email protected]. RICS did not have access to this address, and material submitted to it was stored on a confidential platform. Respondents were invited to complete a questionnaire prepared by the Review team and attach it to their submission, and were able to participate anonymously.
Evidence was submitted by Wednesday 19th May 2021. Ms Levitt QC delivered her report on 12 August 2021.