RICS UK Red Book Supplement Updated Edition Webinar

The Red Book UK Supplement update incorporates general updates reflecting market and other technical changes as well as changes based on the Valuation Review.

The Red Book UK Supplement update incorporates, but is not limited to:

• Residential valuation
• Public sector valuations
• Financial reporting and governance changes

A new section, UK VPS 3, has been added, which includes guidance on rotation policy; terms of engagement and instructions; and preliminary advice, draft reporting, and client discussions. These will only apply to regulated purpose valuations.

Valuers and valuation firms may need to update their processes/practices because of this updated edition of the Red Book UK Supplement, which becomes effective 1 May 2024.

This webinar will provide an overview of these important changes and is relevant to all members and regulated firms undertaking the valuation of assets subject to UK jurisdiction.

• Ben Elder, Head of Professional Practice - Valuation and Investment Advisory, RICS [Chair]
• Nigel Sellars, RICS Property, Professional Practice [on residential valuation]
• Jonathan Fothergill, RICS Valuation & Investment Advisory, Professional Practice [on public sector valuation]
• Charles Golding, RICS Valuation & Investment Advisory, Professional Practice [on UK VPS 3 and governance changes]