Definition
The RICS governance structure is the framework of constitutional bodies through which RICS fulfils its Royal Charter obligations: acting in the public interest, setting professional standards, and regulating members and firms. It comprises two main streams: a commercial and representative stream (Governing Council, RICS Board) and an independent regulatory stream led by the Standards and Regulation Board (SRB). Candidates must name each body, explain its duties, and understand why the regulatory stream must operate independently.
Why this matters for Ethics, Rules of Conduct and Professionalism
- Governance knowledge is a standard APC panel question: assessors expect candidates to describe the SRB, Governing Council, and the distinction between them without hesitation.
- Understanding that RICS is a Royal Charter body that must act in the public interest provides the constitutional context for why the Rules of Conduct are framed as they are.
- Rule 5 (Responsibility) requires members to support and cooperate with RICS regulatory processes — knowing which body runs those processes is a prerequisite.
- The structural separation between governance and regulation is itself an ethical design: it prevents commercial interests from corrupting regulatory decisions.
Key principles
Governing Council
Governing Council is the supreme governance body for non-regulatory matters. It sets strategic direction, safeguards the Royal Charter and bye-laws, and holds the Board to account. Council has up to 28 members, comprising elected RICS members, independent governors, and the Presidential team. It has no authority over regulatory decisions; those are reserved to the SRB.
Presidential team
The President chairs Governing Council for a one-year term; the President-Elect serves concurrently and prepares to assume the role; the Immediate Past President remains on Council for a year to support continuity. Check who currently holds these positions on the RICS website before your panel, as assessors sometimes ask.
RICS Board
The RICS Board is responsible for executive management: approving the annual business plan and budget, overseeing financial performance and risk, and appointing and monitoring the Chief Executive. It is chaired by an independent non-executive Chair. The Board delivers strategy set by Governing Council; it does not direct the SRB.
Standards and Regulation Board
The SRB exercises RICS's regulatory functions: setting professional and ethical standards, overseeing the APC, operating the disciplinary framework, and publishing annual regulatory reports. A majority of its members are non-RICS professionals, insulating regulatory decisions from commercial and membership pressures. This independence is the mechanism by which RICS credibly claims to regulate in the public interest.
Supporting governance bodies
The Audit and Risk Committee provides assurance on financial reporting and risk, reporting material risks to Council. The Nominations Committee oversees appointments to governance bodies, supporting succession planning and diversity. Day-to-day management is led by the Chief Executive, accountable to the Board, supported by an Executive Leadership Team.
Relevant RICS guidance and legislation
- RICS Rules of Conduct (effective 2 February 2022)
- RICS Royal Charter of Incorporation — the constitutional basis for RICS's existence and governance obligations
- RICS bye-laws and regulations — available via rics.org/regulation — set out the legal framework for Council, Board, and SRB powers
Ethics and Rules of Conduct angle
The governance structure gives effect to RICS's Royal Charter ethics. Rule 5 (Responsibility) requires members to act in the public interest and to maintain public confidence. The SRB's independence from commercial pressures is the institutional expression of that principle: professional self-regulation requires structural safeguards, not just good intentions. A candidate who can explain this connection demonstrates the professional maturity that Level 3 demands.
APC-style Q&As
Q (Level 1)Name the main governance bodies of RICS and describe their functions in one sentence each.
Governing Council sets strategy and safeguards the Royal Charter. The Presidential team leads and represents the profession globally. The RICS Board delivers strategy through executive management. The SRB sets and enforces professional standards independently. The Audit and Risk Committee provides assurance on finance and risk; the Nominations Committee oversees governance appointments.
Q (Level 1)What is the role of the Standards and Regulation Board, and why does it operate independently?
The SRB exercises RICS's regulatory functions: setting professional standards, overseeing the APC, and managing the disciplinary framework. It operates independently of Council and the Board so that regulatory decisions are made in the public interest, free from commercial pressures. A majority of its members are non-RICS professionals to reinforce that independence.
Q (Level 2)How does the governance structure of RICS reflect its obligations as a Royal Charter body?
As a Royal Charter body, RICS has a constitutional obligation to act in the public interest, not merely in the interests of its members. The structure reflects this through the separation between commercial governance (Council, Board) and regulatory governance (SRB). The SRB's independence ensures that investigatory, disciplinary and standards decisions cannot be softened by commercial considerations, maintaining credibility with governments, clients, and the public.
Q (Level 2)What is the relationship between the RICS Board and Governing Council, and how does it differ from their relationship with the SRB?
Governing Council sets strategic direction and holds the Board to account. The Board handles operational management. Neither has authority over the SRB, which operates with constitutional independence. The SRB reports on its regulatory activities to Council but its decisions on standards, investigations, and sanctions are not subject to override or direction from Council or the Board.
Q (Level 3)A client asks you how they can be confident that RICS will act against a member who has harmed them, given that RICS's income depends on its membership. How do you respond?
(example) I would acknowledge the concern as entirely legitimate. The SRB, which has sole responsibility for investigations and sanctions, operates independently of Governing Council and has a majority of non-RICS members — meaning the people who decide whether to investigate a member are not themselves members with a reputational interest in protecting the profession. RICS also publishes annual regulatory reports, providing a degree of external accountability. No system is perfect, but the SRB model is designed to make regulatory capture substantially harder, and its track record of prosecuting serious misconduct supports its credibility.