Ethics Flashcards
What includes key background to the RICS?
- Established in 1868
- Gained its Royal Charter in 1881
- Governed by various by-laws and regulations
- 130,000 global members
- 4 levels - Trainee/Student -> FRICS
What is the RICS Motto?
There is measure in all things
What is the address of the RICS?
125 Great George Street, Parliament Square, London
What is Lionheart?
Charity set up for RICS members, for RICS members. Provides advice and suppport on matters including:
- Well-being and mental health
- Financial support
- Illness & legal advice
What is Modus and Matrix?
Modus - RICS publication (magazine)
Matrix - division for young surveyors - provides events, networking, seminars etc
How much is RICS membership?
£354 for first 2 years, £539 afterwards
What are the professional groups?
- Divisions of the RICS providing technical advice and contributing to policy in relevent discipline
- 17 groups
- E.g. PM, Valuation, Rural etc
What is the governance structure of the RICS?
- Governing council - 25 members, runs RICS
- Regulatory Board, Management Board & Various Committees reporting to gov council
17 specialist professional groups
Who makes up the professional team?
- Nick Maclean - Head of Governing Council
- Richard Collins - CEO
- Anne Gray - President
What is the role of the Standards and Regulation Board?
Responsible for the Strategy, Policy, Operation and admissions into the profession
What is the role of the Governing Council?
Responsible for global strategy and ensures obligations under the Royal Charter are met
What is the role of the Audit Committee?
Maintain the effectiveness and integrity of RICS functions?
What is the role of the managing board?
Directs RICS affairs under delegated authority from the governing council
How would you become a RICS Fellow?
Provide assessors:
- Evidence of
- 5+ years at MRICS
- leadership role
- professional and technical achievement
- raising the profile of the RICS
- Portfolio of professional achievement to support application and CPD record
What is the key role of the RICS?
- Promote and enforce the highest professional standards and qualifications in the development and management of property, real estate and the enviro
- Be accountable to members and the public
- Involved in policy influence and political engagement
What are the three main roles?
- Maintain highest standards of education and training
- Protect customers through strict regulations and professional standards
- Be a leading source of information and expert advice on land property and construction
What were the aims of the Bichard Review?
- Clarify purpose of the RICS
- Make recommendations on the governing structure
- Provide proposals on incoming leadership and governing body on future culture and strategy
What are the 5 benefits of being a RICS member?
- Status
- Recognition
- Market advantage
- Knowledge
- Networking
What are the 3 key benefits for firms regulation?
- Confidence - from clients
- Professionalism
- Security
What is the Royal Charter?
- Passed in 1881 by Queen Victoria
- Established the independent legal identity of the RICS, while defining its constitution and powers to govern its own affairs
Who is the current RICS president?
Anne Gray
What are the 5 principles of better regulation?
TPACT
- Transparent
- Proportional
- Accountable
- Consistent
- Targeted
What is a bye-law?
Regulation made by an organisation (RICS last updated theirs in Feb 2021)
What are the 5 professional and ethical standards?
- Act with integrity
- Provide a high standard service
- Act in way that promotes trust in the profession
- Treat others with respect
- Take responsibility