RICS Global Red Book 2022 Changes
RICS has maintained its policy of rushing out a new version of the Red Book to coincide with the effective date of the most recent International Valuation Standards, the latest being effective from the end of January 2022. In late September 2021 it issued a consultation draft with a closing date for submissions of 8 November. At the end of November the new edition was published, along with a "Basis for Conclusions" which briefly references some of the comments received on the draft.
The changes are not significant but the opportunity has not been taken to undertake to make some of the various improvements which we have previously identified as being needed. We have produced a summary of the changes and our comments in our Review of the published standard