Conduct Rules, Ethics and Professional Practice Flashcards
If you are successful with your APC and you decide to start your own business as a chartered surveyor what sort of things will you need to consider and do?
(1) Advise the RICS that you are starting a business;
(2) register for regulation;
(3) meet the requirements of the rules;
(4) understand the need for insurances (employers liability, public liability etc.), a health and safety policy, equal opportunities policy etc.;
(5) Use the RICS logo as set out by the RICS.
What is clients money and how can a firm preserve the security of this?
Assessors are looking for you to show that you have systems in place to ensure that clients money can be clearly linked to the clients to whom it belongs and is protected on their behalf in all circumstances.
You should be able to explain that clients money is any money received and held by a firm that does not solely belong to it e.g. tenants deposits, rents, service charges, arbitration fees etc.
You should explain the systems that you would need to have in place e.g. keeping clients money in a separate account and include the name of the firm and client in the account name, set out written terms with your client.
If you are successful in undertaking a project for a client and they send you a case of wine as a thank you, what should you do?
State whether or not this could be a conflict of interest or could introduce a conflict of interest in the future. Refer to the firms gift register and policy surrounding this. Make explicit reference to future conflicts and how you would handle this.
As a qualified surveyor you are working for a surveying practice and a friend asks you to conduct a valuation as a favour because you are a surveyor, what should you do?
Identify that you would not give this advice as you do not have PII and would encourage your friend to seek advice through your company, being careful that you acknowledge any conflict of interest for yourself.
What are the principles of the UK legal system?
Common law - developed by court judgments (case law)
- Contract - must have offer, acceptance and consideration
- Tort - Civil law which does not arise form contractual obligations eg trespass, negligence etc.
Statutory law - legislative, written law
Can you accept a gift from a client?
Depends upon the type/value of the gift - is it reasonable/proportional?
Is it likely to impare my professional opinion or independence?
Can it be seen as an inducement or bribe?
Have regard to:
- Rules of Conduct for Members
- 12 Core Values
- RICS Maintaining Professional and Ethical Standards 2010
- Consider Money Laundering 2007 and tax implications of gifts
What is the Bribery Act 2010
Makes bribery a criminal offence
Being bribed, bribing of foreign officials, failure of a commercial organisation to prevent bribery
What is a conflict of interest?
Professional, financial or business interest with another who is involved with the firm I work for
Your independence is threatened due to existence of a conflict
Loyalty to two different clients
How would you deal with a conflict of interest?
Conflict avoidance = inform the client, and withdraw yourself from the instruction
Conflict management = Disclose the nature of the conflict, recommend they obtain professional advice, establish proposals for dealing, get written permission to continue acting, set up an information barrier, the firms compliance officer must oversee all actions.
What is integrity?
Integrity is a concept of consistency of actions, values, methods, measures, principles, expectations and outcomes
It can be regarded as the quality of having an intuitive sense of honesty and truthfulness in regard to the motivations for ones actions
You are informed by a client that he considers that you may have acted negligently in respect of a valuation instruction. What actions would you undertake?
I would treat this as a complaint.
I would ask for the complaint to be submitted in writing and that this would be investigated within 28 days.
Refer it to the complaints handling officer
Wht parts of the RICS deal with disciplinary matters?
Stages:
- Action by Head of Regulation - low level breaches
- Disciplinary Panel - serious breaches - Consent Order/Conditions on membership
- Appeal Panel - against fixed penalty notice, disciplinary panel, registration panel
Governed by Disciplinary, Registration and Appeal Panel Rules 2008
What does Acting as an Expert Witness 2008 say?
Has a duty of care to the court or other ADR panel, rather than the client
Duty to court to share knowledge
Fee on a time-basis not incentives
P.35 Civil Procedure Rules - experts in court
What does Acting as an Advocate 2008 say?
Advocate represents his client at a judicial hearing/tribunal
Duty to maintain integrity of the judicial body/tribunal as well as acting in the best interests of client
Must be competent to act as an advocate
