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RICS prepared instructions regarding Due Diligence

The publication, prepared by RICS, describes the instructions and gives examples of the best practices related to the technical audit Due Dilligence.

The increase in the popularity of technical audit Due Diligence during commercial real estate evaluation was the basis for the publication by RICS, which describes the best practices during writing this type of documents.

 

Due Diligence is one of the most difficult stages of real estate evaluation. These reports are characterized by detailed information, extensive structure and they involve high risk. RICS presents a document the aim of which is to help both these who are counsellors and these who make use of professional advice concerned with the technical audit Due Diligence.

 

It is important both for the customers of audit services and the consultants providing them to be certain of the high quality of the documents which are prepared. The instructions published in this document were made on the basis of expertise and experience of the members of RICS from around the world, and they will allow to conduct the technical audit Due Diligence at the highest level, comments Iain Leyden, FRICS.

 

The publication prepared by RICS enables the consumers of the service Due Diligence in the real estate sector to understand its scope. The instructions of RICS regarding the technical audit Due Diligence allow institutions and people who order the audit to precisely determine their expectations and scope in which the audit should be conducted, explains Piotr Rusinek, MRICS. The document prepared by RICS is also important when choosing the company conducting Technical Audit. It gives information which allows to choose the institutions which enable to choose a professional who provides services of the highest quality, he adds.

 

The Polish version of the publication by RICS, entitled “Najlepsze praktyki i wytyczne RICS w zakresie Audytu Technicznego „Due Diligence” nieruchomości komercyjnych, przemysłowych i mieszkaniowych w Europie kontynentalnej” (Best Practices and Instructions Regarding Technical Audit “Due Dilligence” for commercial, industrial and residential real estate in continental Europe) was presented on 15 April in Warsaw.


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