Bribing & Conflict of Interest

Question 1

What is a conflict of interest?

Answer 1

• Where someone in a position of trust has a competing professional or personal interest which makes it difficult to act impartially

Question 2

Different types of bribes?

Question 3

What must RICS firms do in relation to bribery and corruption?

Answer 3

• Not offer or accept, directly or indirectly, anything that could constitute to a bribe
• Have plans in place to comply with applicable laws governing bribery and corruption, and ensure that these are followed
• report any activity that they are aware of that breaches anti-bribery and corruption laws to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager
• act with due diligence to perform periodic written evaluations of the risks that face the firm and that may lead to the facilitation of bribery or corruption; in determining the appropriate level of due diligence, the firm may consider the type of business activities they engage in and the environment in which they operate
• retain information detailing how the firm has met the requirements of this professional statement

Question 4

What must RICS members do in relation to bribery and corruption?

Answer 4

• not offer or accept, directly or indirectly, anything that could constitute a bribe
• ensure that they have adequate knowledge of bribery and corruption to be able to comply with the requirements of this professional statement
• report any activity that they are aware of that breaches anti-bribery and corruption laws to the relevant authorities (as specified in local legislation); where there is no local legislation the activity should be recorded and, if possible, reported to a senior manager