Definition

In an APC context, RICS policy documents are the suite of publications through which RICS sets and enforces standards. They range from documents with the force of regulatory obligation, such as the RICS Rules of Conduct (effective 2 February 2022), to technical guidance that carries weight without being strictly mandatory. Compliance with a Mandatory Professional Statement is not optional; a Guidance Note sets out best practice that members should follow unless they can justify an equally sound alternative.

Why this matters for Ethics, Rules of Conduct and Professionalism

  • Assessors regularly ask candidates to name specific RICS documents and explain whether they are mandatory or advisory; knowing the hierarchy is a baseline expectation.
  • Citing the wrong category (treating a Guidance Note as binding) signals a fundamental gap in professional knowledge.
  • Rule 2 (Competence) requires members to keep up to date with RICS professional standards, making awareness of the policy landscape a direct regulatory obligation.

Key principles

Mandatory Professional Statements

Mandatory Professional Statements set out the minimum standards that members and firms must meet. Non-compliance is itself evidence of a breach of the Rules of Conduct. Examples include the RICS Rules of Conduct, the Conflicts of Interest global professional statement and the client money handling rules. Members have no discretion to depart from an applicable Mandatory Professional Statement.

Guidance Notes

Guidance Notes provide practical advice on applying good professional practice. They are not mandatory but a departure requires justification that the alternative approach was equally appropriate. In disciplinary or legal proceedings, failure to follow a Guidance Note without good reason may be cited as evidence of substandard practice.

Rules of Conduct and bye-laws

The Rules of Conduct establish the five high-level principles every member and firm must meet. They are supplemented by RICS bye-laws and regulations, which form the constitutional framework for governance, membership categories, disciplinary procedures and the powers of RICS bodies.

Information Papers and other publications

RICS also publishes Information Papers, research reports and market surveys. These carry no formal regulatory status but contribute to technical knowledge. Candidates must distinguish between these and regulatory documents higher in the hierarchy; an Information Paper is not binding, though it may be relevant to how a competent professional approaches the situation.

Relevant RICS guidance and legislation

Ethics and Rules of Conduct angle

Rule 2 (Competence) requires current awareness of documents governing practice. Rule 1 (Honesty and Integrity) is engaged when a member misrepresents a document's status. Rule 5 (Responsibility) requires upholding the standards RICS documents are designed to maintain.

APC-style Q&As

Q (Level 1)What is a Mandatory Professional Statement, and how does it differ from a Guidance Note?

A Mandatory Professional Statement sets out requirements that RICS members and firms must comply with; non-compliance is itself evidence of a breach of the Rules of Conduct. A Guidance Note sets out recommended best practice; departure from it is permissible but must be justifiable. The key distinction is one of obligation: Mandatory Professional Statements are binding, Guidance Notes are strongly persuasive.

Q (Level 1)Name two examples of RICS Mandatory Professional Statements.

The RICS Rules of Conduct (effective 2 February 2022) and the RICS Conflicts of Interest global professional statement (1st edition, 2017, effective 1 January 2018) are both Mandatory Professional Statements. In the valuation field, the RICS Red Book Global Standards (effective 31 January 2022) is another well-known example.

Q (Level 2)A colleague tells you that because a particular RICS document is a Guidance Note, they are not required to follow it. How would you respond?

Guidance Notes cannot simply be ignored. They set the standard of good professional practice, and departing without a defensible reason risks being characterised as substandard conduct, particularly if a complaint arises. The profession treats Guidance Notes as the expected benchmark; a member who departs must be able to articulate why their approach was equally appropriate.

Q (Level 2)How does the RICS policy document hierarchy relate to a member's obligations under Rule 2 (Competence)?

Rule 2 requires members to maintain the professional knowledge and skills necessary to provide services competently. This includes remaining aware of changes to RICS professional standards that apply to the member's area of practice. If a new Mandatory Professional Statement comes into effect and a member continues to practise as if the old standard applied, they are likely in breach of Rule 2. Keeping up to date with the policy document landscape is therefore a direct regulatory obligation, not merely a matter of professional development.

Q (Level 3)You are advising a junior colleague who is about to deliver a valuation. They are unaware that an updated RICS Mandatory Professional Statement has been in effect for three months and their methodology does not comply with it. What are the implications, and what steps do you take?

(example) Delivering a non-compliant valuation likely breaches Rule 2 (Competence) and exposes the firm to a professional indemnity claim. I would pause the work, brief the colleague on the updated standard and review the draft to identify necessary changes. I would also flag to the compliance lead whether the firm's processes for tracking RICS standards updates are adequate, as a systemic issue under Rule 5.