Financial management

Managing a practice places financial obligations on RICS members.

Firms must have suitable professional indemnity insurance and must have rigorous processes for dealing with clients' money.

Failure to manage a practice effectively can lead to insolvency.

This section is maintained by Nick Weller of NW Learning Limited.

Related standards: RICS Rules of Conduct

Related standards: Client money handling

Related standards: Countering bribery and corruption, money laundering and terrorist financing