The second edition of the RICS Code has been in effect since April 2007 and it is now anticipated that the next edition will be published in May 2011.

The soon to be published SCOR Report for offices (Service Charge Operating Report) jointly researched with Kingston University will show some significant improvements in the timeliness of the production of Certificates and Budgets.  However, more forensic accounting research shows that there is still substantial room for improvement.

In light of this, it could be argued that current industry and RICS initiatives will, in time, bring about substantial and significant improvements in service charge processes.

What are your views?