RICS random questions

Question 1

What is the Bichard Review and why was it commissioned?

Answer 1

• Commissioned by the GC, following the Livitt Review
• The key reccomendation were:
• More focus on the public interest
• Increased focus on diversity and inclusion
• Empowering young members
• Simplified, accountable governance structure
• Showing greater leadership towards sustainability and climate change

Question 2

What is the Review of RE investment Valuations?

Answer 2

• It’s a report commissioned by the SRB to futureproof valuation practice in light of rapidly changing market dynamics.
• The report was prepared Peter Pereira Gray provided various reccomendations:
• rotation process for valuers
• Adoption DCFs
• Quality Assurance Panel
• Diversity in valuation profession