Nick Morrey says RICS has indirectly been responsible for the torrid time faced by thousands of leasehold flat owners.
Following highly publicised recent departures at the Royal Institution of Chartered Surveyors (RICS), Nick Morrey, product technical manager at John Charcol, has reinforced concerns about the institution's management quality.
Sean Tompkins, Kathleen Fontana, governing council chair Chris Brookes and management board chair Paul Marcuse have lost their jobs as a result of a 167-page report which outlined major faults in the management of the company.
Morrey said: “While a company’s management of its own internal finances is not a reflection of the hard work by many of its staff or its members, it is a possibly worrying indication of the decision-making processes beyond the reported incompetence's of those experienced enough to know better."
Earlier this year, QC Alison Levitt was asked to conduct a review into the crisis at RICS after it was revealed that four non-executive directors had been ousted in 2019 after they discovered the surveyors was at risk of “unidentified fraud, misappropriation of funds and misreporting of financial performance.”
Morrey went on to say that RICS has indirectly been responsible for the torrid time faced by thousands of leasehold flat owners who will feel somewhat aggrieved by this news.
He added: "We can only hope that a new management team is quickly assembled and cladding guidance reviewed apace.
"If it can be brought more in line with recent government statements then maybe RICS can responsibly and trustworthily assist many of these ‘prisoners’.”
