More trouble at RICS uncovered by newspaper investigation

first_imgFollowing The Negotiator’s report on RICs agent member unhappiness over the handling of 140 redundancies at the venerable trade body, a major newspaper has alleged further unrest within the organisation.Last month we were contacted by agents who were disappointed that a plan to offload staff had been executed with only minor pay cuts for senior staff.But Sunday Times business column Prufrock has now revealed that four non-exec directors of RICs recently had their contracts ended abruptly after they questioned how the organisation’s finances were being run.They had worried back in 2018 that an unflattering report into its treasury management had been buried by senior management following reports that RICs had extended its overdraft without informing the organisation’s board.Treasury controlsTreasury controls are the checks and balances larger businesses employ at board level to ensure they have the day-to-day cash to operate.The quartet then spent many months demanding on behalf of its 134,000 members that it be published and finally gained access to a copy, Prufrock journalist Liam Kelly claims.The four NEDs discovered that the report was critical of RICs internal financial regulation and they then sought answers from then president Chris Brooke, who stepped down in December last year.Kelly says the four NEDs all had their contracts terminated. RICS has denied this was linked to their probe into the report and has told The Sunday Times it is financially sound and that it does not comment on contractual matters.prufrock RICS Sunday Times December 14, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Associations & Bodies » More trouble at RICS uncovered by newspaper investigation previous nextAssociations & BodiesMore trouble at RICS uncovered by newspaper investigationSunday Times column Prufrock uncovers internal unhappiness at the way the organisation is being run.14th December 202007,542 Viewslast_img

first_imgFollowing The Negotiator’s report on RICs agent member unhappiness over the handling of 140 redundancies at the venerable trade body, a major newspaper has alleged further unrest within the organisation.Last month we were contacted by agents who were disappointed that a plan to offload staff had been executed with only minor pay cuts for senior staff.But Sunday Times business column Prufrock has now revealed that four non-exec directors of RICs recently had their contracts ended abruptly after they questioned how the organisation’s finances were being run.They had worried back in 2018 that an unflattering report into its treasury management had been buried by senior management following reports that RICs had extended its overdraft without informing the organisation’s board.Treasury controlsTreasury controls are the checks and balances larger businesses employ at board level to ensure they have the day-to-day cash to operate.The quartet then spent many months demanding on behalf of its 134,000 members that it be published and finally gained access to a copy, Prufrock journalist Liam Kelly claims.The four NEDs discovered that the report was critical of RICs internal financial regulation and they then sought answers from then president Chris Brooke, who stepped down in December last year.Kelly says the four NEDs all had their contracts terminated. RICS has denied this was linked to their probe into the report and has told The Sunday Times it is financially sound and that it does not comment on contractual matters.prufrock RICS Sunday Times December 14, 2020Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Associations & Bodies » More trouble at RICS uncovered by newspaper investigation previous nextAssociations & BodiesMore trouble at RICS uncovered by newspaper investigationSunday Times column Prufrock uncovers internal unhappiness at the way the organisation is being run.14th December 202007,542 Viewslast_img

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