Articles have 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 has commissioned an Independent Review in relation to these issues. It is being 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 has delivered her report of over 400 pages to the Chair of the Steering Committee of Governing Council. Ms Levitt has 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 would like to hear from as many people as possible who can offer insight into the issues which form the subject of this Review.

She is 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

Timetable update

The Independent Review Team has now moved into the final phase of the Review and it is their hope to be able to deliver the report to the Chair of the Steering Committee of Governing Council by mid-August 2021.

Contact

To make it easy for people to contact Ms Levitt QC and tell her their views, the Review has set up a secure and confidential email address at contact@LevittQCIndependentReview.co.uk.

You may find it helpful to download and complete this questionnaire and attach it to your email.

RICS does not have access to the email address and they will not be given any of the material, which is stored on a confidential platform. It is possible for people to respond to the Review anonymously.

Evidence should be submitted by Wednesday 19th May. Ms Levitt QC is aiming to provide her report by mid-June.