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APC QS Civil Eng Pathway SRH > Conduct rules, ethics and professional practice > Flashcards

Conduct rules, ethics and professional practice Flashcards

1
Q

What is RICS Definition of Ethics?

A

Giving one’s best to Ensure the client’s interest are properly met, whilst also recognising and respecting the wider publics’ interests.

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2
Q

What teams make up the RICS Governance?

A

It is made up of 4 Teams.

  • Governing Council - Simon Prichard UK Chair
  • Presidential Team - Chris Brooke RICS President
  • Executive Team - Sean Tomkins CEO
  • Regulatory Board - Stephen Haddrill Global Reg Chair
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3
Q

What are the RICS Global Standards?

A
  1. Service - Always provide a high standard of service
  2. Integrity - Always act with integrity
  3. Respect - Treat Others with respect
  4. Responsibility - Take responsibility
  5. Trust - Act in a way that promotes trust in the profession.
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4
Q

What rules set out the standards of professional conduct and practice expected of members and firms registered for regulation by RICS.

A

RICS rules of conduct for members

RICS rules of conduct for firms

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5
Q

What are the RICS Five Principles for better regulation?

A
  1. Proportionality
  2. Accountability
  3. Consistency
  4. Targeting
  5. Transparency
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6
Q

What are the rules of conduct for members (9 in total)?

A
  1. Interpretation of a member; Chartered, Non-Chartered, Honorary, Members of attached classes.
  2. Communication used by RICS; Post, Fax, email, In person, Telephone
  3. Ethical Behaviour
  4. Competence
  5. Service
  6. Continuing Professional Development (CPD)
  7. Solvency
  8. Information to RICS Submission; timely manner
  9. Cooperation; with RICS Staff and Reg Board
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7
Q

What are the rules of conduct for firms (15 in total)?

A
  1. Interpretation of a member; Chartered, Non-Chartered, Honorary, Members of attached classes.
  2. Communication used by RICS; Post, Fax, email, In person, Telephone
  3. Ethical Behaviour
  4. Competence
  5. Service
  6. Training and CPD
  7. Solvency
  8. Information to RICS Submission; timely manner
  9. Cooperation; with RICS Staff and Reg Board
  10. Compaints Handling;
  11. Clients’ Money; preserve security
  12. Professional Indemnity Insurance;
  13. Advertising
  14. Arrangements to cover the incapacity or death of a sole practitioner
  15. Use of Designations
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8
Q

What are the CPD requirements for a MRICS?

A

A min of 20 hours every year. 10 formal, 10 informal.

Formal - structured training, learning that has objectives or an assessment afterwards.

Informal- Private Study and reserach

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9
Q

When must CPD be recorded by?

A

End of December, record on online CPD portal.

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10
Q

What are ethics CPD requirements?

A

One CPD on ethics per year.

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11
Q

How should a complaint be dealt with?

A

Should be acknowledged within 7 days of receipt and responded to in full between 20-28 days.

If a complaint is issued to independent third-party then Inurers need to be notified of complaint.

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12
Q

Who manages complaints at the RICS?

A

Head of regulation

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13
Q

What does a firm need to do to conform with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017?

A
  • Money Laundering and terrorist financing risk assessment
  • Implement systems, controls and procedures to address terrorist financing risk assessment
  • Apply above across firms structure
  • Adopt appropriate internal controls
  • Provide training for staff
  • Comply with CDD EDD and SDD
  • Comply with regulations for PEP
  • Record keeping and data protections are compliant
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14
Q

Why would you want to be a member of the RICS?

A
  • Part of a large network of around 130k other members
  • international recognition by clients and peers
  • competitive advantage
  • known mark of quality
  • consumer protection for clients due to strict rules of conduct
  • global professional ethical standards
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15
Q

Where are hearings posted for claims/cases against surveyors?

A

In the back of Modus.

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16
Q

Why should a chartered surveyor remain solvent?

A
  • It’s a rule for members and firms (rules of conduct) - Could be vulnerable to bribery - Doesn’t promote trust in the profession.
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17
Q

Why do firms have to have PI insurance?

A
  • To protect the client in the case of poor advice. - It’s a rule for regulated firms (rules of conduct)
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18
Q

Why do chartered surveyors have to do CPD?

A
  • It’s a rule of conduct - Market, technology, economy, regulations change, need to keep up to date to offer client informed advice
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19
Q

How much PI cover must a regulated firm have?

A

Turnover £ 100,000 or less = £ 250,000 limit of indemnity £ 100,001 to £ 200,000= £ 500,000 limit of indemnity Over £ 200,00 = £ 1,000,000 limit of indemnity

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20
Q

Where can you find out more about PII requirements for RICS firms?

A

RICS regulation - Professional indemnity insurance requirements (Version 5 with effect from 2 July 2019)

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21
Q

What must you do if you were to set up a firm of chartered surveyors?

A
  • State if you are to handle clients money. If so, confirm arrangements for handling clients money - Complaints handling procedure - PII (estimate turnover to calculate) - 50% must be MRICS (until Feb 2020, reduces to 25%) - Company name, number - What the professional service you are offering - Provisions in place for incapacity or death of sole practitioner
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22
Q

What would handlings client money procedures have to state?

A
  • Bank account must have “client” in the name - Account must be separate - State arrangement for interest - Transparent with reconciliation - Fast access
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23
Q

What are your company’s complaints handling procedure?

A

@@@@@@@@@@@@@@@@@@@ Complaint made Sent to complaints handling person for review Acknowledged Respond Third party organisation used should complainer not be satisfied

24
Q

What is the RICS complaints handling procedure?

A

@@@@@@@ 28 days

25
Q

What are the RICS global professional and ethical standards?

A
  • Take RESPONSIBILITY - Treat others with RESPECT - Act with INTEGRITY - Provide a high level of SERVICE - Promote TRUST in the profession
26
Q

Give an example of a high level of service.

A
  • Prepare comprehensive handover notes before annual leave, always be available to take a call or reply to an email - Client commendation
27
Q

What does promoting trust in the profession?

A
  • Be careful of your actions outside of the workplace, social media etc. - Promote the profession to external acquaintances
28
Q

What would you do if your colleague was acting outside of the Global Professional and Ethical Standards?

A
  • Ascertain the facts to ensure they are acting outside of the rules - Use ethical decision tree to confirm - Remind them of the rules - If no change, report to RICS
29
Q

What is your company’s gift policy?

A

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30
Q

What does the RICS say about bribery?

A

RICS have just released: RICS professional standards and guidance GLOBAL “Countering bribery and corruption, money laundering and terrorist financing February 2019.”

31
Q

How do you undertake conflict checks?

A

@@@@@@@@@@

32
Q

What are examples of information barriers?

A
  • Clear desk policy - Take calls in private - Password protection on files
33
Q

What does the RICS publish on the conflict of interest?

A

RICS professional standards and guidance, global Conflicts of interest 1st edition, March 2017

34
Q

What is informed consent?

A

Informed Consent may be sought only where the RICS member or regulated firm is satisfied that proceeding despite a Conflict of Interest is: (a) in the interests of all of those who are or may be affected and (b) is not prohibited by law, and that the conflict will not prevent the member or regulated firm from providing competent and diligent advice to those that may be affected.

35
Q

How would you carry out a money laundering check?

A
  • Customer Due Diligence - Simplified Due Diligence - Enhanced Due Diligence (done by compliance team for detailed investigation required out of my scope of confidence)
36
Q

What is tipping off?

A

Alerting the client you suspect them of something/give them an early warning of the investigation

37
Q

What is the maximum amount of cash allowed to be taken?

A

Most firms don’t accept cash, request for it to be paid into an account and transferred across. Maximum allowed is EU10,000 in cash, counted and receipted.

38
Q

What work can you do prior to agreeing your terms of engagement with a client?

A

Anything, so long as you do not advise the client.

39
Q

What constitutes acting with integrity?

A

• Being trustworthy in all that you do. • Being open and transparent in the way you work. • Sharing appropriate and necessary information with your clients and/or others to conduct business and doing so in a way so they can understand that information. • Respecting confidential information of your clients and potential clients. • Don’t divulge information to others unless it is appropriate to do so. • Not taking advantage of a client, a colleague, a third party or anyone to whom you owe a duty of care. • Not allowing bias, conflict of interest or the undue influence of others to override your professional or business judgements and obligations. • Making clear to all interested parties where a conflict of interest, or even a potential conflict of interest, arises between you or your employer and your client.

40
Q

What constitutes providing a high level of service?

A
  • Be clear abotu what aservice your client wants and the service you are providing. - Act within scope of confidence - Be transparent about fees and other costs/payments - Communicate in a way that allows them to make informed decisions - if your service requries third party involvement pay parties within timescales agreed
41
Q

What constitutes promoting trust in the profession?

A

• Promoting what you and the profession stand for – the highest standards globally. • Understanding that being a professional is more than just about how you behave at work; it is also, about how you behave in your private life. • Understanding how your actions affect others and the environment and if appropriate questioning or amending that behaviour. • Fulfilling your obligations. • Doing what you say you will. • Always trying to meet the spirit of your professional standards and not just the letter of the standards.

42
Q

What is meant by treating others with respect?

A

• Always being courteous, polite and considerate to clients, potential clients and everyone else you come into contact with. • Never discriminate against anyone for whatever reason. • Always ensure that issues of race, gender, sexual orientation, age, size, religion, country of origin or disability have no place in the way you deal with other people or do business. • As much as you are able, encourage the firm or organisation you work for to put the fair and respectful treatment of clients at the centre of its business culture.

43
Q

What is meant by taking responsibility?

A

• Always act with skill, care and diligence. • If someone makes a complaint about something that you have done then respond in an appropriate and professional manner and aim to resolve the matter to the satisfaction of the complainant as far as you can. • If you think something is not right, being prepared to question it and raise the matter as appropriate with your colleagues, within your firm or the organisation that you work for, with RICS, or with any other appropriate body or organisation.

44
Q

What would you do if presented with a gift by a Contractor or Client?

A
  • To avoid being compromised perhaps the best solution is to refuse all, but in practice this is difficult without disrespecting the contractor/client. - All gifts should be noted in firms gift register - Ensure the gift is proportional in value and not given at a sensitive time e.g. final account negotiations or tender period
45
Q

What is the FCPA?

A

The US Foreign Corrupt Practices Act

46
Q

What does the FCPA do?

A

Prohibits corrupt giving, offering or promising of money or anything else of value to government officials in foreign countries to influence them for obtaining or retaining business

47
Q

What is active vs passive bribary?

A

Active = offering or giving Passive = receiving

48
Q

What’s the difference between the FCPA and UKBA (UK Bribary Act)?

A

FCPA only relates to public officials and active bribes, and permits facilitation payments for routine government actions. FCPA requires listed companies in the US and their subsidiaries to keep accurate books and records. UKBA does not - this is covered under other UK legislation.

49
Q

What are the penalties under the FCPA?

A
  • Up to 5 years inprisonment - $250,000 fine per violation for individuals - $2,000,000 fine per violation for companies
50
Q

Who is a public official?

A
  • Anyone that holds a legislative, administrative or judicial position - Anyone who exercises a public function - An official agent of a public international organisation e.g. UN, World Bank, IMF
51
Q

What is your company’s policy with regards to accepting gifts?

A
  • I may accept and offer business hospitality such as meals and entertainment provided it has a legitimate business purpose and the expense is reasonable, proportionate and transparent - Hospitality must not be offered if it could be seen to influence the recipient improperly - No hospitality when bidding for a tender or dealing with a public official - The host must be present when giving hospitality, otherwise it becomes a gift - Anyone giving or hosting entertainment must sign a statement - Hopsitality above the threshold (£100) as defined in the Company’s Gift Policy in the “Register of Interests”.
52
Q

What is tax evasion?

A

When people or businesses deliberately failing to declare the taxes that they owe

53
Q

What is tax avoidance?

A

Not illegal, but a way of paying less tax

54
Q

What UK legislation is in place to promote equality and diversity?

A

Equality Act (2010)

55
Q

What does the Equality Act do?

A

It is unlawful to discriminate if it is related to the nine protected characteristics: - Age - Disability - Gender reassignment - Marriage & civil partnership - Pregnancy & maternity - Religion and belief - Sex - Sexual orientation

APC QS Civil Eng Pathway SRH (22 decks)

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