Ethics Flashcards
What is the RICS
The RICS is the world leading professional body specialising in land, property construction and represents 130k qualified professionals
When was the RICS founded
1868 and got the royal charter in 1881
What are the rules of conduct
“1. Be honest, act with integrity and comply with professional obligations
- Maintain professional competence and ensure that services are provided by individuals with competence and expertise
- Provide a good quality and diligent service
- Treat other with respect and encourage diversity and inclusion
- Act in the public interest, take responsibility and maintain public confidence”
Why were the codes of conduct updated?
Replace rules for individuals & firms and rules of conduct
Based on behaviours & sustainability
Simpler structure Clear examples Focus on respect, diversity and inclusion Understand evolving technology Tackling global challenges
Who is the RICS CEO
Richard Collins
Who is the president of the RICS
Clement Lau
Who is the president elect of the RICS
Anne Grey
Who is the senior vice president
Tina Paillet
What are your professional obligations
“Comply with the CPD requirements
Cooperate with the RICS
Promptly provide all reasonably requested information”
What is a conflict of interest
A COI is when a person or company become unreliable due to a clash of interests.
How would you deal with a conflict of interest
“1. Decide if you will proceed and layout concerns in writing
- Advise of the circumstances and how you will deal with conflict
- Advise to obtain independent advice
- get written confirmation ok to proceed
- If withdrawing provide written notification”
What is the RICS advice on conflict of interest
Avoid where possible
RICS Conflict of Interest Professional Statement
What is the ethics decision tree
The ethics decision tree is a tool used by the RICS to provide surveyors with several ethical questions to answer to ensure that they meet ethical standards
What are the CPD requirements
“To record 20 hours per year 10 formal 10 informal
must be recorded by 31st January
Understanding of ethical standards must be renewed every three years”
Why would the gift affect your impartiality
It would present an ethical decision by accepting it could be seen as swaying my impartiality to the contractor and it could affect my ability to make clear decisions
How do you deal with a complaint
I advise them of our complaints handling procedure and notify the complaints handler (director)
What is your companies complaints handling procedure
"Acknowledge within 24hr Respond within 5 working days Face to face meeting within 15days Give client 15days to respond If client not satisfied refer to independent redress e.g. property ombudsman or financial ombudsman's service"
What insurance would you need to take out to if you started your own firm
PI Professional Indemnity Insurance, along with employers liability and public liability
What must your firm do if you want to register with the RICS
“Offer services in surveying
25% of directors RICS qualified
Observe rules of conduct”
What are the Professional obligations for firms?
- Have complaints handling procedure which refers complainants to ADR provider and keep complaints log
- Previous and current work covered by insurance
- Make arrangements for works to continue in the event of incapacity
- Cooperate with RICS
- Provide any information requested by the RICS
- Display business literature in accordance with RICS policy
- Report any matters required under the rules of registration of firms
What must you have to be a regulated company
“Have insurance
complaints handling procedure
clint money handling procedure
QA/QC”
What is PII
Professional Indemnity Insurance
What is negligence
When the delivery of your service falls below the recognised standards to prevent risk or harm
What levels of PII do the RICS require
“It is all related to your previous years turnover;
£0-£100k - £250k
£100-£200k - £500k
£200k+ - £1m”
If you were winding up a company what would you need to do
Notify the RICS take out run off cover
What is run off cover
Covers you for the prior to the end of liability under the contract
What is the RICS and what does it mean to you
“The RICS is a professional body that represents 125k construction professionals.
The RICS is the benchmark for professionalism of surveyors.
It is a guarantee of the surveyors skill and competence”
What are the discipline procedures
“When a complaint or concern is raised against a member
It is investigated and when serious enough and supported by evidence the standards and regulatory board consider disciplinary action
For less serious actions the Head of Regulation may impose a consent order to ensure compliance with future standards May include fine, caution or conditions on the membership.
It may need to go to disciplinary panel and may impose fine or expulsion”
What is a consent order
“A compliance order is an agreement between the RICS and a regulated member.
The regulated member agrees that;
- Accepts they have fallen short of standards
- Accept sanctions
- Accept steps to prevent it happening again
They compliance order will consist of one of the following;
- Caution
- Reprimand
- Member gives one or more undertaking to future conduct
- Requirement for member to stop certain actions within a period of time
- Conditions on continued membership
- Conditions on registration
- Fine up to £2k”
Are you aware of any RICS initiatives
Inspire future Surveyors
RICS Inspire programme is a catalyst for showcasing the profession to the next generation.
It attempts to inspire young people and influencers about surveying’s role in shaping our world and equipping young people with the skills needed to pursue a professional surveying career.
What is the RICS new arbitration service
“New RICS arbitration services
It aims to provide unrivalled service to meet expectations of parties during arbitration
Uses highly qualified arbitrators with specialist knowledge to ensure independence in dispute”
What is Lion Heart
“Lion heart independent charity to support past and present RICS Professionals and families though any of liges challenges from start to retirement
APC support Work Life balance & Stress management Presentation practice Workshops & webinars Counselling Coaching APC Ambassadors"
Where is the RICS head office
12 Great George Street London, SW 1P 3AD
What other professional groups are included in the RICS
“Building Surveying
Building Control
Commercial real estate
Facilities management
Planning and development
PM
QS
Valuation surveyor”
What is the RICS governing structure
“Governing Council - Sets overall strategy for RICS and provides high level assurance around standards and professionals.
Management Board - Inform and oversee RICS affairs under delegated authority. Report directly to governing council and accountable for approving business plan
Standard and regulation board - Responsible for overseeing/setting and upholding standards through global assurance, providing independent oversight and public-interest perspective across standards and entry to profession and regulation
Audit committee - Monitors integrity and effectiveness of financial reporting, internal control and risk management”
What is the RICS matrics
supports new members
working with RICS to share future of surveying
and grow size and respect
What other memberships are their other than MRICS
Student member
APC Candidate
AssocRICS - Recognises work based experience and vocational qualifications. Shows you are qualified regulated and trusted. SOE & Case Study & CPD record
FRICS”
How do you become FRICS
” - You have to demonstrate four out of the twelve characteristics. There are 3 core principles;
- Demonstrate intent to further RICS and the profession.
- Act for the benefit of a third party to reflect RICS’ public interest mandate.
- Promote RICS objectives and the profession.
submit application for assessment which is reviewed and decided by RICS”
what levels of PII insurance are required by the RICS?
"£0-100 = 250k £100-200= 500k £200+ = £1m+"
Why do we require PI insurance?
it covers professionals for claims made against them for negligence
In professional Indemnity Insurance, what is the difference between each and every claim and aggregate?
“Each and every claim - means the limit is payable each in respect to every claim
Aggregate - the limit is only claimable once and for however many claims are made on it
Each and every hard to get
cladding contractors struggle due to Grenfell “
What the difference between formal and informal CPD?
“Formal CPD Formal CPD can be any form of structured learning that has clear learning objectives and outcomes - Professional Course, Seminars, conferences
Informal CPD Informal CPD is any self-managed learning that is relevant or related to a member’s professional role - Study and learning”
What is your RICS Membership number
7374935
What is the royal charter
Awarded in 1881
“maintain and promote the usefulness of the profession for public advantage.”
changes to constitution must be ratified by government
What is the role of thee RICS
Regulate and promote the profession
Maintain educational and professional standards
Protect clients and consumers through codes of ethics
Provide impartial advice analysis and guidance
What are the principles of better regulation
Proportionality
Accountability
Consistency
Targeting
Transparency
Who is the privy council
They grant and award the royal charter
Who administers the rules and codes of conduct
RICS Standards and regulation board
What are different types of RICS document
Guidance note - Recommended best practice
Professional stastement - Mandatory
Code of practice - Best practice or mandatory (will state in document)
What is the black book
A series of guidance notes for technical standards
Cashflow Acceleration Cost Analysis and bench marking Retention E-Tendering
Do the RICS provide any guidance on conflicts of interest
COI RICS Professional statement
What is the bribary act
Bribary act 2010
Makes it illegal to give or take bribe
Fine or imprisonment
If you were approached to provide surveying services for a friend would you
No. I would not hold PI i would only be able to under the umbrella of my company
What is FRICS
‘An honoured class of membership awarded on the basis of individual achievement within the profession
How many countries do the RICS cover
146 countries
What are the routes for RICS APC submission
Built Environment
Land & Property
How many people in the RICS governing council
25
How would you limit your liability on appointments
Sign the appointments under hand
What are the hot topics RICs have recently looked at that impact you as a QS?
- Changes to NRM (in line with RIBA stages, Code of measurement & ICMS (International Cost Management Standards)
- Ethics Rules changing in Feb 2022
- Lord Bichard Report - 36 recommendations
What is the Carsberg report?
A third party review of how the RICS regulates itself.
Recommended greater separation of regulatory and representational functions.
Recommended chartered surveyors should still be regulated by the RICS but that this should involve separate regulatory and conduct boards.
How many RICS professional groups are there?
18
What is the name of the RICS journals?
MODUS
What complaints can the RICS investigate?
Any breach of their conduct
They will not investigate whether a high level of service is provided
What are your company’s Ethical standards?
Results Driven
Client Focussed
Team Player
Innovative
Principled
What is the RICS mantra?
Est Modus Rebus’ = There is measure in all things
What are the RICS requirements that PI insurance must have?
It provides minimum wording
It sets out minimum levels of indemnity
It sets out the maximum levels of uninsured excess
Run off cover must be in place for at least 6 years
It should include for past and present employees, directors and partners
If an estimate is incorrect, can the client claim damages against the QS?
Not necessarily, only if they can prove that the QS did not act with reasonable skill and care
What would your approach be if client wanted to pay you in advance for works
Advise clients who pay fees in advance that this money is not covered by the Client Money Protection scheme.
Provide a receipt
RICS advises against cash payments & request made by transfer & held in a client account.
What are Bye-Laws?
A law or rule governing the internal affairs of an organization. A secondary law. e.g. 1. Definitions set out by RICS 2. Membership & registration 3. Designations 4. Contributions to Funds 5. Conduct 6. Governing council, officers & staff 7. Subordinate boards, officers & staff 8. Procedure for general meetings 9. Accounts & Audit 10. General
chair of gov council?
Nick McClean - interim (post levitt report) - Oct 2021 for 12 months
What is the difference between Professional integrity & Professional ethics?
a. Prof integrity – what we do – open honesty & transparency
b. Prof ethics – how we behave & framework of how we act
How does the RICS promote sustainability?
a. RICS SKA rating for internal fitouts - rating helps landlords and tenants assess fit-out projects against a set of sustainability good practice criteria
b. Sustainability reports
c. ICMS - International Cost Management Standard
d. New rules of conduct.
When are the new rules of conduct effective from?
2nd February 2022
What do the new rules of conduct replace?
Rules for member, Rules for Firms & global professional and ethical standards
What sort of information do registered firms have to provide RICS with annually?
Annual Return (on-line) - Types of business and staffing.
Nature of clients Training Provisions Complaints procedure & log PI insurance details Details on whether any client moneys are held
What is the Royal Charter?
The ROYAL CHARTER is a document issued by a Monarch as letters patent granting right of power to an individual or a body corporate
The Royal Charter requires us to promote the usefulness of the profession for the public advantage
Important changes to RICS’ constitution - its bye-laws - have to be ratified by the UK Government, through the Privy Council,
What does RICS Stand for
Royal Institute of Chartered Surveyors
MARK OF PROFESSIONALISM WORLDWIDE
What should fees be?
Open and transparent - Client should understand what they have paid for
What CPD have you recently attended
Formal - Internal APC sessions.
Informal - APC Revision. Reading around the Part L&F upgrades and Future homes and building standards 2025
Are you aware of industry specific publications?
Modus
Building Magazine
Construction News
Are you aware of industry specific publications?
Modus
Building Magazine
Construction News
What was the Levitt review
The Independent Review to investigate articles in the press that alleged that RICS ‘tried to supress a critical internal report into its finances in 2018/2019 and then unfairly dealt with those who sought to explore the issue’
What happened following the Levitt Review
The RICS accepted all recommendations
RICS commissioned the Bichard report
What is the Bichard Report & why was it conducted
The Bichard Review was commissioned by the Governing Council in December 2021
Following a recommendation in the Levitt Review that a “wide-ranging examination of purpose, governance and strategy” should be conducted by an external reviewer, replacing the previous internal review ‘Defining our Future’
What was the conclusion of the Bichard report
It makes 36 recommendations for implementation.
Place renewed focus on public interest and the role of members in leading the institution, and span regulation, diversity and inclusion, sustainability, member engagement, inspiring the next generation of surveyors and leadership on major issues of societal importance
What was the timescale for the Bichard report recommendations
Lord Bichard recommends the reforms are implemented quickly and in three phases.
- Phase one would focus on transitioning the Chair of Governing Council’s responsibilities to the President; recruiting a new Chair of the Board, a permanent leader for the Executive and a Chair of the combined Nominations and Recruitment Committee. There would be a consultation over changes to professional groups and a framework document.
- Phase two would focus on transitioning Management Board responsibilities to the new Management Board; recruiting a Senior Independent Governor and independent member and appointing Board members; and conducting elections for geographic Governing Council seats in early 2023.
- Phase three would focus on the establishment and population of the five key Committees; the new Professional Group Panels; and World Regional Boards. Elections for the new disciplinary Governing Council seats.
Can you provide an example of a COI
A consultant working on a tender then moves to a contractor or visa versa. It could affect impartiality.
Ethics decision tree
