RICS Standards and Regulation Board releases Risk outlook 2024 report

The RICS Standards and Regulation Board (SRB) has released its first Risk outlook report, providing key insights into the economic and structural forces affecting the surveying profession. This comprehensive report aims to support RICS members, regulated firms, and the public by outlining the regulatory trends that will affect the surveying industry in the year ahead, and how members and regulated firms can anticipate and respond to them effectively.

As part of its commitment to uphold professional standards and protect public interest, the SRB has identified 14 priority topics that are shaping the industry. The report sets out work that is ongoing to address risks ranging from attracting talent to the profession, maintaining the competence of the profession to handle issues like climate change,  technological advancements, and the review of the Home survey standard. The report is structured in two parts: a global risk outlook and a UK-specific risk outlook, reflecting the distinct contexts within different regions.

Nigel Clarke, Chair of the RICS Standards and Regulation Board, said: “Understanding and mitigating the risks facing our members and firms is crucial for us as a regulator. By sharing this report, we aim to provide valuable insight into the evolving regulatory landscape, supporting our members in their professional practice and contributing to strengthening trust in the profession.”

The SRB’s Risk outlook 2024 report not only highlights major areas of risk but also provides an update on RICS’ efforts to support members and firms in addressing these challenges. It provides resources and content to assist members in maintaining compliance and safeguarding their practices.

As an independent regulator operating within RICS, the SRB remains committed to understanding and responding to the evolving risks faced by members, and to gathering insights from members, regulated firms, the public, and all RICS stakeholders. This feedback, alongside regulatory data and thematic reviews, will inform the SRB’s future work and strategy.

For further information or to share your thoughts on the report, please contact riskoutlook@rics.org.