Ethics Flashcards
Can you describe the structure/ Name the governing bodies of the RICS
- governing council
- management board
- standards and regulation board
- audit committee as required by the royal charter and by-laws
What are the 4 main roles of the RICS?
Regulate and Promote the Profession
- Maintain highest educational and professional standards
- Protect clients and consumers
- Provide impartial advice and guidance
What is the RICS VISION
- Increase presence in intended markets
- To be recognised as the leading body that develops and enforces professional standards
- act with integrity and champion the profession
- be strategically placed in major cities to advise governments
How old is RICS
It was founded in 1972 but can trace history back to 1868 when the surveys club was formed
Who is president of RICS
Clement Lau
What are the recent changes to the rules?
The new rules are a single document which makes it easier for RICS members and firms and the public to understand and we’re effective from Feb 2022
What do the New rules replace
The replace 3 documents
- rules of conducts for members
- rules of conducts for firms
- global professional and ethics standards
What are the new rules
Rule 1 - members and firms must be honest and act with integrity
Rule 2 - members and firms must maintain their professional competence, and that services are provided by competent individuals
Rule 3 - members must provide good quality and diligent service
Rule 4 - members and firms must treat others with respect and encourage diversity and inclusion
Rule 5 - members and firms must act in the public interest and take responsibility for their actions
Give examples of when you have used the rules
Rule 1 - south Kilburn project: advised client it would be unfair to request savings for works that would not be undertaken
Rule 2 - when client asked to advise on party wall matters / I escalated to a member of my team who was better equipped with the necessary info
Rule 3 - communicated clearly with my client and provided good service which secured repeat business
Rule 4 - requested junior member of team assist me on projects and have always been polite and respectful to clients and gained good feedback
Rule 5 - Notifying a contractor on one of the projects that may need to make sure payments are kept clean and free from any materials
What professional obligations for members
- Comply with CPD
- cooperate with RICS
- provide all info promptly that is reasonable requested by the standard and regulation board
What are the professional obligations of firms
- must publish complaints handling procedures and log
- all previous and current work is covered by appropriate PI cover
- firms must make arrangements for works to continue in event of incapacity/ death
- must cooperate with RICS
- provide information requested by stands and regulation board
- display business literature in accordance with RICS
- Must report to RICS any matter that they are required to report
What are the rules for the registration of firms
- They set out which firms are required to register with RICS for regulation
- eligibility criteria for applying for regulation
- the procedure for registration, de re-registration and appeal
What is a professional statement
A document that provides members with mandatory requirements of a role that a member or firm is expected to adhere to.
Give 3 examples of professional statements
- conflicts of interest
- Client money handling
- bribery, corruption, money laundering and terrorist financing
What is a guidance note
A document that provides users with recommendations or approach for accepted good practice
Name 3 examples of guidance notes
- Complaints handling
- Surveying safety (2nd edition, November 2018)
- Change control and management
What is the different between code of practice and guidance notes
COP is approved by RICS where as guidance notes is recommended good practice
What must a complaints handling procedure have?
Effective and transparent procedures
Tell me about the complaints handling procedure at your firm
Two stage process
Stage 1 - respond and acknowledge complaint within 7 days. Within 21 days write with outcome
Stage 2 - Redress scheme which is the RICS DISPUTE RESOLUTION SERVICE
When is the complainants handling procedure issued
A copy is available on request
You declined a social event with the developer - what legislation do you have to consider? How do you access if this is appropriate?
Bribery act 2010
Timing of social event has to be considered
Other then ethical practice, what else would you have to consider when the contractor invited you to a social event
Check that it wasn’t a bribe
Check to see if my client had been invited
Check the gifts and hospitality register at work
If I sure check with senior partner
What is bribery
An Offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust
If someone offered you a bribe, what would you do?
Decline and report to the relevant authorities as well as senior management
What is the bribery act
It covers criminal law to bribery, the 4 areas are:
Offence of bribery
Offence of being bribed
Offence of bribing a foreign public official
Corporate offence of failing to prevent bribery
What is a Conflict of Interest
Where there may be an actual, perceived or potential risk that the professional judgement of an RICS firm or member could be compromised when undertaking an assignment
Give an example of a COI you have experienced?
Personally I’ve not experienced one, but my company procedure is to send internal emails to check for conflicts before engaging on a project.
What is informed consent
Consent giving willingly by a party who maybe affected by a conflict of interest but chose to continue
What is your companies Gifts & Hospitality policy
It needs to comply with local law
It does not include cash or cash equivalents
Details must be given of hospitality received
How do you no if CPD is formal or informal
I used the CPD decision tree
What is the RICS mission statement
To qualify and equip our professionals to the highest level
Promote and enforce standards
To lead solutions to the major challenges facing the built environment through professional expertise
What do registered firms need to send to the RICS every year
Annual return
Type of business and staffing
Nature of clients
Training provisions
CHP and LOG
Any client money held
What is money laundering
Concealing the source of the proceeds of criminal activity to disguise their illegal origin
why do you want to be a member of the RICS?
Recognition
status
market advantage
